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Tuesday 22 November 2016 by FIIG Research New issues list

New Issues

New issues for the period 15 November – 22 November 2016 including: Bank of Queensland, Bendigo and Adelaide Bank, Central American Bank for Economic Integration, KfW Bankengruppe, ME Bank and Western Australian Treasury Corporation

Bank of Queensland (BOQ)

BOQ priced an increase to its February 2018 domestic bond on 16 November 2016.

Volume: A$150m
Outstanding volume in this line: A$550m
Coupon type: floating rate note
Coupon rate: 3m BBSW +100bps
Issue/re offer price: 100.238% (plus 0.106% accrued)
Margin to swap: 80bps/3m BBSW
Maturity date: 5 February 2018

Bendigo and Adelaide Bank (BEN)

BEN issued a new benchmark domestic bond on 15 November 2016.

Volume: A$400m
Outstanding volume in this line: A$400m
Coupon type: floating rate note
Coupon rate: 3m BBSW +110bps
Issue/re offer price: par
Margin to swap: 110bps/3m BBSW
Maturity date: 21 February 2020

Central American Bank for Economic Integration (CABEI)

CABEI issued its debut kangaroo bond for A$75m on 17 November 2016.

Volume: A$75m
Outstanding volume in this line: A$75m
Coupon type: fixed
Coupon rate: 4.42%
Issue/re offer price: par
Issue yield: 4.42%
Margin to swap: 180bps
Margin to ACGB: 188bps/April 2026
Maturity date: 25 November 2026

KfW Bankengruppe (KfW)

KfW priced an increase to its September 2026 kangaroo bond on 18 November 2016.

Volume: A$100m
Outstanding volume in this line: A$700m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re offer price: 99.664%
Issue yield: 3.24%
Margin to swap: 54bps
Margin to ACGB: 58.5bps/April 2026
Maturity date: 11 September 2026

ME Bank (ME)

ME priced an increase to its July 2019 domestic bond on 22 November 2016.

Volume: A$125m
Outstanding volume in this line: A$350m
Coupon type: floating rate note
Coupon rate: 3m BBSW +145bps
Issue/re offer price: 100.132%
Margin to swap: 140bps/3m BBSW
Maturity date: 18 July 2019

Western Australian Treasury Corporation (WATC)

WATC issued a new, eight year syndicated benchmark bond on 18 November 2016.

Volume: A$525m
Outstanding volume in this line: A$525m
Coupon type: fixed
Coupon rate: 2.5%
Issue/re offer price: 96.100% (plus 0.849% of accrued interest)
Issue yield: 3.075%
Margin to EFP: 38bps
Maturity date: 23 July 2024

Source: KangaNews/FIIG Securities

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