Tuesday 10 May 2016 by FIIG Research New issues list

New Issues

New issues for the period 3 May – 10 May 2016 including: Bank of Queensland, International Finance Corporation, KfW Bankengruppe and National Australia Bank

Bank of Queensland (BOQ)

BOQ priced a new, five year senior unsecured benchmark bond on 9 May 2016. The issue will be BOQ’s second senior unsecured deal of the year, after the issuer priced A$400m of 2018 floating rate notes at 100bps over the bank bill swap rate (BBSW) in February. The forthcoming transaction, which will take fixed or floating format, is in the area of 148bps over the three month BBSW.

International Finance Corporation (IFC)

IFC priced a tap to its July 2026 bond.

Issue date: 6 May 2016
Volume: A$50m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re-offer price: 104.531% 
Issue yield: 2.8%
Maturity date: 22 July 2026 

KfW Bankengruppe (KfW)

KfW noted an increase to its September 2026 bond on 9 May 2016. The tap will add to the A$200m priced when KfW introduced this line in March 2016, at 66bps over Australian commonwealth government securities.

National Australia Bank (NAB)  

NAB priced a new, senior unsecured five year benchmark bond on 6 May 2016.

Tranche: Fixed
Volume: A$300m
Coupon rate: 3%
Issue/re-offer price: 99.448%
Issue yield: 3.12%
Maturity date: 12 May 2021

Tranche: Floating
Volume: A$2.9bn
Coupon rate: 3m BBSW +117bps
Issue/re-offer price: par 
Margin to swap: 117bps/3m BBSW
Maturity date: 12 May 2021