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Tuesday 31 January 2017 by FIIG Research New issues list

New Issues

New issues for the period 24 January – 31 January 2017 including: Export Development Canada, International Finance Corporation, KommuneKredit, Province of Ontario and Swedish Export Credit Corporation

Export Development Canada (EDC)

EDC priced an A$475m increase to its June 2021 kangaroo bond on 25 January 2017.

Volume: A$475m
Outstanding volume in this line: A$775m
Coupon type: fixed
Coupon rate: 2.4%
Issue/re offer price: 98.359%
Issue yield: 2.805%
Margin to ACGB: 65.5bps/May 2021
Margin to swap: 46bps
Maturity date: 7 June 2021

International Finance Corporation (IFC)

IFC priced an increase to its July 2026 kangaroo bond on 27 January 2017.

Volume: A$50m
Outstanding volume in this line: A$925m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re offer price: 98.964%
Issue yield: 3.345%
Margin to swap: 49bps
Margin to ACGB: 61.75bps/April 2026
Maturity date: 22 July 2026

KommuneKredit

KommuneKredit priced an increase to its November 2026 kangaroo bond on 24 January 2017.

Volume: A$50m
Outstanding volume in this line: A$535m
Coupon type: fixed
Coupon rate: 2.9%
Issue/re offer price: 94.863%
Issue yield: 3.523%
Margin to swap: 68bps
Margin to ACGB: 87.5bps/April 2027
Maturity date: 27 November 2026

Oesterreichische Kontrollbank (OKB)

OKB issued a new August 2027 kangaroo bond on 23 January 2017.

Volume: A$25m
Outstanding volume in this line: A$25m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re offer price: 99.370%
Issue yield: 3.5725%
Margin to swap: 68bps
Margin to ACGB: 81.75bps/April 2027
Maturity date: 3 August 2027

Province of Ontario (Ontario)

Ontario priced an increase to its January 2027 kangaroo bond on 25 January 2017.

Volume: A$30m
Outstanding volume in this line: A$60m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re offer price: 98.925%
Issue yield: 3.6375%
Margin to swap: 80bps
Margin to ACGB: 91bps/April 2027
Maturity date: 27 January 2027

Swedish Export Credit Corporation (SEK)

SEK priced an increase to its September 2026 kangaroo bond on 25 January 2017.

Volume: A$25m
Outstanding volume in this line: A$160m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re offer price: 98.878%
Issue yield: 3.4375%
Margin to swap: 65bps
Margin to ACGB: 80bps/April 2026
Maturity date: 18 September 2026

Source: KangaNews/FIIG Securities

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