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Tuesday 15 November 2016 by FIIG Research New issues list

New Issues

New issues for the period 8 November – 15 November 2016 including: Bendigo and Adelaide Bank, European Investment Bank and Inter American Development Bank

Bendigo and Adelaide Bank (BEN)

BEN’s forthcoming domestic benchmark bond has progressed to launch on 15 November 2016. The issue has a minimum volume of A$300m, with price guidance in the area of 107 to 110 basis points (bps) over three month bank bill swap rate (BBSW).

European Investment Bank (EIB)

EIB priced an increase to its August 2026 kangaroo bond on 14 November 2016.

Volume: A$100m
Outstanding volume in this line: A$350m
Coupon type: fixed
Coupon rate: 3.1%
Issue/re offer price: 98.816% (plus 0.842% accrued)
Issue yield: 3.2425%
Margin to swap: 59bps
Margin to ACGB: 64.25bps/April 2026
Maturity date: 17 August 2026

Inter American Development Bank (IADB)

IADB priced an A$30m increase to its April 2027 kangaroo bond on 14 November 2016.

Volume: A$30m
Outstanding volume in this line: A$285m
Coupon type: fixed
Coupon rate: 2.5%
Issue/re offer price: 93.628%
Issue yield: 3.2275%
Margin to swap: 49bps
Margin to ACGB: 56.75bps/April 2027
Maturity date: 14 April 2027

Source: KangaNews/FIIG Securities

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