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Wednesday 15 May 2019 by Facilitation New issues list

New Issues - 29 April to 10 May 2019

New issues for the week ending Friday 10 May 2019, including: BNG, CEB, Citibank, IFC, NAB, NWB, Westpac.

BNG BANK (BNG)

BNG Bank adds A$25 million to July 2028 Kangaroo

Volume: A$25m
Total outstanding in the line: A$1.22bn
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.67%
Issue yield: 2.365%
Margin to swap: 53bps/s-q
Margin to ACGB: 63bps/May 2028
Maturity date: 17 July 2028

BNG BANK (BNG)

BNG Bank prices A$30 million increase to April 2029 Kangaroo

Volume: A$30m
Total outstanding in the line: A$415m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.807%
Issue yield: 2.4125%
Margin to swap: 54bps/s-q
Margin to ACGB: 67bps/April 2029
Maturity date: 26 April 2029

Citibank (Citibank)

Citibank prints A$1.25 billion senior-unsecured global deal

Volume: A$1.25bn
Total outstanding in the line: A$1.25bn
Coupon type: FRN
Coupon rate: 3m BBSW +75bps
Issue/re-offer price: par
Margin to swap: 75bps/3m BBSW
Maturity date: 20 May 2022

Council of Europe Development Bank (CEB)

CEB prices A$35 million August 2029 Kangaroo Tap

Volume: A$35m
Total outstanding in the line: A$85m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re-offer price: 104.337% (plus 0.865% accrued)
Issue yield: 2.4175%
Margin to swap: 52bps/s-q
Margin to ACGB: 68.25bps/April 2029
Maturity date: 1 August 2029

International Finance Corporation (IFC)

IFC prices A$25 million June 2029 Kangaroo

Volume: A$25m
Total outstanding in this line: A$550m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 107.627%
Issue yield: 2.3%
Margin to swap: 42bps/s-q
Margin to ACGB: 56.25bps/April 2029
Maturity date: 26 June 2029

National Australia Bank (NAB)

NAB prices A$1 billion domestic tier-two transaction

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: FRN
Coupon rate: 3m BBSW +215bps
Issue/re-offer price: par
Margin to swap: 215bps/3m BBSW
Maturity date: 17 May 2029

NWB Bank (NWB)

NWB bank prices A$15 million May 2029 Kangaroo Tap

Volume: A$15m
Total outstanding in the line: A$560m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 108.139% (plus 0.126% accrued)
Issue yield: 2.3775%
Margin to swap: 54bps/s-q
Margin to ACGB: 66.5bps/April 2029
Maturity date: 2 May 2029

NWB Bank (NWB)

NWB bank adds A$35 million to May 2029 Kangaroo

Volume: A$35m
Total outstanding in the line: A$595m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 107.929% (plus 0.135% accrued)
Issue yield: 2.4%
Margin to swap: 55.5bps/s-q
Margin to ACGB: 68bps/April 2029
Maturity date: 2 May 2029

Westpac Banking Corporation (Westpac)

Westpac prints A$3.5 billion multi-tranche domestic deal

Three-year FRN tranche
Volume: A$1.5bn
Total outstanding in this line: A$1.5bn
Coupon rate: 3m BBSW +62bps
Issue/re-offer price: par
Margin to swap: 62bps/3m BBSW
Maturity date: 16 May 2022

5.25-year FRN tranche

Volume: A$1.7bn
Total outstanding in this line: A$1.7bn
Coupon rate: 3m BBSW +88bps
Issue/re-offer price: par
Margin to swap: 88bps/3m BBSW
Maturity date: 16 August 2024

5.25-year fixed-rate tranche
Volume: A$300m
Total outstanding in this line: A$300m
Coupon rate: 2.25%
Issue/re-offer price: 99.152%
Margin to swap: 88bps/s-q
Maturity date: 16 August 2024

New issues for the week ending Friday 3 May 2019, including: CIBC, IFC, Suncorp.

Canadian Imperial Bank of Commerce Australia Branch (CIBC)

CIBC Australia prints A$400 million May 2020 FRN deal

Volume: A$400m
Total outstanding in this line: A$400m
Coupon type: FRN
Coupon rate: 3m BBSW +41bps
Issue/re-offer price: par
Margin to swap: 41bps/3m BBSW
Maturity date: 6 May 2020

International Finance Corporation (IFC)

IFC prints A$25 million June 2029 Kangaroo Tap

Volume: A$25m
Total outstanding in this line: A$525m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 107.294%
Issue yield: 2.3375%
Margin to swap: 42bps/s-q
Margin to ACGB: 55.15bps/April 2029
Maturity date: 26 June 2029

Suncorp-Metway (Suncorp)

Suncorp prints A$500 million April 2022 FRN deal

Volume: A$500m
Total outstanding in the line: A$500m
Coupon type: FRN
Coupon rate: 3m BBSW +70bps
Issue/re-offer price: par
Margin to swap: 70bps/3m BBSW
Maturity date: 6 April 2022

Source: KangaNews

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