Tuesday 01 March 2016 by FIIG Research New issues list

New issues

New issues for the period 24 February – 1 March 2016 including: two floating rate note transactions from Rabobank Australia and Westpac

CNH Capital

On 26 February, CNH Capital priced a new asset backed securities (ABS) transaction, the total deal volume was A$350m.

Note class A2 B C
Tranche volume A$198m A$11.3m A$10.5m  A$6.2m 
WAL 1.8 years 2.4 years 2.4 years  2.4 years 
Margin to swap 3m BBSW+130bps 3m BBSW+200bps 3m BBSW+250bps  ND 

Nederlandse Waterschapsbank

On 25 February, Nederlandse Waterschapsbank priced a new fixed rate bond at 77 basis points (bps) over the Australian Commonwealth Government Bond (ACGB).

Volume: A$50m
Coupon rate: 3.15%
Issue yield: 3.18%
Maturity date: 2 September 2026

Rabobank Nederland Australia Branch (Rabobank Australia)

On 26 February, Rabobank Australia priced a new floating rate note transaction. 

Volume: A$800m
Coupon rate: 3m BBSW+150bps
Issue/re-offer price: par
Maturity date: 4 March 2021

Westpac Banking Corporation (Westpac)

Westpac priced a new floating rate note transaction on 25 February 2016.

Volume: A$525m
Coupon rate: 3m BBSW+310bps
Issue/re-offer price: par
Maturity date: 10 March 2026

Please note that FIIG may not trade in all of the above securities, contact your FIIG representative for more information.

Source: KangaNews, FIIG Securities