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Tuesday 21 February 2017 by FIIG Research New issues list

New Issues

New issues for the period 14 February – 21 February 2017 including: African Development Bank, Asian Development Bank, Central American Bank for Economic Integration, GPT Funds Management, Greater Bank, KfW Bankengruppe and Northern Territory Treasury Corporation

African Development Bank (AfDB)

AfDB priced an increase to its July 2027 kangaroo bond on 14 February 2017.

Volume: A$25m
Outstanding volume in this line: A$100m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re offer price: 99.040%
Issue yield: 3.41%
Margin to swap: 51bps
Margin to ACGB: 66.25bps/April 2027
Maturity date: 27 July 2027

Asian Development Bank (ADB)

ADB priced an increase to its January 2022 kangaroo bond on 14 February 2017.

Volume: A$350m
Outstanding volume in this line: A$650m
Coupon type: fixed
Coupon rate: 2.75%
Issue/re offer price: 99.85%
Issue yield: 2.7825%
Margin to swap: 40bps
Margin to ACGB: 53.25bps/July 2022
Maturity date: 19 January 2022

Central American Bank for Economic Integration (CABEI)

CABEI priced an increase to its November 2026 kangaroo bond on 16 February 2017.

Volume: A$65m
Outstanding volume in this line: A$140m
Coupon type: fixed
Coupon rate: 4.42%
Issue/re offer price: 98.944%
Issue yield: 4.6971%
Margin to swap: 175bps
Margin to ACGB: 194.25bps/April 2026
Maturity date: 25 November 2026

GPT Funds Management (GPT Funds)

GPT Funds – the responsible entity of GPT Wholesale Office Fund No.1 – priced a new Australian domestic bond on 15 February 2017.

Volume: A$200m
Outstanding volume in this line: A$200m
Coupon type: fixed
Coupon rate: 4.52%
Issue/re offer price: par
Issue yield: 4.52%
Margin to swap: 160bps
Maturity date: 22 February 2027

Greater Bank

Greater Bank priced a new three year domestic bond on 17 February 2017.

Volume: A$30m
Outstanding volume in this line: A$30m
Coupon type: floating rate noteCoupon rate: 3m BBSW +145bps
Issue/re offer price: par
Margin to swap: 145bps/3m BBSW
Maturity date: 24 February 2020

KfW Bankengruppe (KfW)

KfW priced an increase to its March 2024 kangaroo bond on 17 February 2017.

Volume: A$150m
Outstanding volume in this line: A$1.55bn
Coupon type: fixed
Coupon rate: 5%
Issue/re offer price: 111.498%
Issue yield: 3.17%
Margin to swap: 55bps
Margin to ACGB: 57.5bps/April 2024
Maturity date: 19 March 2024

Northern Territory Treasury Corporation (NTTC)

NTTC priced an increase to its October 2024 benchmark bond on 15 February 2017.

Volume: A$200m
Outstanding volume in this line: A$500m
Coupon type: fixed
Coupon rate: 2.75%
Issue/re offer price: 96.962% (plus 0.937% accrued)
Issue yield: 3.2%
Margin to EFP: 37.5bps
Maturity date: 21 October 2024

Oversea-Chinese Banking Corporation Sydney Branch (OCBC Sydney)

OCBC Sydney released pricing details for its new one year bond on 15 February 2017.

Volume: A$500m
Outstanding volume in this line: A$500m
Coupon type: floating rate note
Coupon rate: 3m BBSW +49bps
Issue/re offer price: par
Margin to swap: 49bps/3m BBSW
Maturity date: 22 February 2018

Source: KangaNews/FIIG Securities

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