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Tuesday 26 April 2016 by FIIG Research New issues list

New Issues

New issues for the period 18 April – 26 April 2016 including: BNG Bank, Inter-American Development Bank, Macquarie Leasing, Rentenbank, Tasmanian Public Finance Corporation and Western Australia Treasury Corporation

Bank Nederlandse Gemeenten (BNG Bank)

BNG Bank priced a ten year fixed rate bond on 21 April 2016.

Volume: A$20m
Type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 100.085% (plus 0.571% accrued)
Issue yield: 3.24%
Maturity date: 24 August 2026

Inter-American Development Bank (IADB)

IADB priced a new, nine year fixed rate bond on 21 April 2016.

Volume: A$50m
Type: Fixed
Coupon rate: 2.75%
Issue/re-offer price: 98.215% (minus 0.015% accrued)
Issue yield: 2.965%
Maturity date: 30 October 2025

Macquarie Leasing (Macquarie)

Macquarie priced its first auto asset backed bond on 21 April 2016.

Note class: A
Tranche volume: A$765.0m
Tranche rating: Aaa/AAA (Moody’s/Fitch)
WAL: 1.94 years
Margin to swap: 1mBBSW +140bps
Initial credit support: 15%

Note class: B
Tranche volume: A$22.5m
Tranche rating: Aa2/AA
WAL: 2.55 years
Margin to swap: ND
Initial credit support: 12.5%

Note class: seller notes
Tranche volume: A$112.5m
Tranche rating: unrated
WAL: 2.55 years
Margin to swap: ND
Initial credit support: N/A

Nederlandse Waterschapsbank (NWB)

NWB priced a ten year fixed rate bond on 22 April 2016.

Volume: A$20m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 98.779% (plus 0.496% accrued)
Issue yield: 3.29%
Maturity date: 2 September 2026

Province of Québec (Québec)

Québec priced a new ten year fixed rate bond on 21 April 2016.

Volume: A$60m
Coupon type: fixed
Coupon rate: 3.70%
Issue/re-offer price: 101.237%
Issue yield: 3.5525%
Maturity date: 20 May 2026

Rentenbank

Rentenbank priced a ten year fixed rate bond on 21 April 2016.

Volume: A$60m
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 114.073%
Issue yield: 3.095%
Maturity date: 6 May 2026

Tasmanian Public Finance Corporation (Tascorp)

Tascorp priced a new 30 year fixed rate bond on 22 April 2016.

Volume: A$55m
Coupon type: fixed
Coupon rate: 4.35%
Issue/re-offer price: 98.638%
Issue yield: 4.4325%
Maturity date: 2 May 2046

Western Australian Treasury Corporation (WATC)

WATC priced a new six year fixed rate benchmark bond on 19 April 2016.

Volume: A$1.1bn
Type: fixed
Coupon rate: 2.75%
Issue/re-offer price: 99.426% (plus 0.53% accrued)
Issue yield: 2.8475%
Maturity date: 20 October 2022

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