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Tuesday 07 March 2017 by FIIG Research New issues list

New Issues

New issues for the period 28 February – 7 March 2017 including: African Development Bank, Asian Development Bank, Australian Office of Financial Management, Coca Cola Amatil, Inter-American Development Bank and more

African Development Bank (AfDB)

AfDB priced an increase to its July 2027 kangaroo bond on 22 February 2017.

Volume: A$25m
Outstanding volume in this line: A$125m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re offer price: 99.04% (including 0.365% accrued)
Issue yield: 3.4525%
Margin to ACGB: 65bps/April 2027
Margin to swap: 51bps
Maturity date: 27 July 2027

Asian Development Bank (ADB)

ADB issued a new, 10.5 year kangaroo bond on 3 March 2017.

Volume: A$250m
Outstanding volume in this line: A$250m
Coupon type: fixed
Coupon rate: 3.4%
Issue/re offer price: 99.563%
Issue yield: 3.45%
Margin to swap: 49bps
Margin to ACGB: 64.5bps/April 2027
Maturity date: 10 September 2027

Australian Office of Financial Management (AOFM)

The AOFM has issued an A$700m syndicated increase to its August 2040 bond on 28 February 2017.

Volume: A$700m
Outstanding volume in this line: A$2.65bn
Coupon type: fixed
Coupon rate: 1.25%
Issue/re offer price: ND
Real yield to maturity: 1.2425%
Maturity date: 21 August 2040

Bank of Tokyo Mitsubishi UFJ Sydney Branch (BTMU Sydney)

BTMU Sydney priced a new, four year dual tranche domestic bond on 1 March 2017.

Floating rate tranche
Volume: A$650m
Outstanding volume in this line: A$650m
Coupon rate: 3m BBSW +100bps
Issue/re offer price: par
Margin to swap: 100bps/3m BBSW
Maturity date: 9 March 2021

Fixed rate tranche
Volume: A$150m
Outstanding volume in this line: A$150m
Coupon rate: 3.25%
Issue/re offer price: 99.656%
Issue yield: 3.3425%
Margin to swap: 100bps
Maturity date: 9 March 2021

Coca Cola Amatil (CCA)

CCA issued and priced a new, five year euro medium term note on 1 March 2017.

Volume: A$200m
Outstanding volume in this line: A$200m
Coupon type: fixed
Coupon rate: 3.375%
Issue/re offer price: 99.661%
Issue yield: 3.45%
Margin to swap: 105bps
Maturity date: 10 March 2022

Inter-American Development Bank (IADB)

IADB priced an increase to its 2027 kangaroo bond on 28 February 2017.

Volume: A$40m
Outstanding volume in this line: A$390m
Coupon type: fixed
Coupon rate: 2.5%
Issue/re offer price: 92.367%
Issue yield: 3.4%
Margin to swap: 49bps
Margin to ACGB: 67bps/April 2027
Maturity date: 14 April 2027

Province of Ontario (Ontario)

Ontario priced an increase to its 2027 kangaroo bond on 28 February 2017.

Volume: A$55m
Outstanding volume in this line: A$115m
Coupon type: fixed
Coupon rate: 3.5%
Issue/re offer price: 98.741% (clean)
Issue yield: 3.6525%
Margin to ACGB: 92bps/April 2027
Margin to swap: 80bps
Maturity date: 27 January 2027

Rentenbank

Rentenbank priced an increase to its 2025 kangaroo bond on 28 February 2017.

Volume: A$100m
Outstanding volume in this line: A$1.1bn
Coupon type: fixed
Coupon rate: 4.25%
Issue/re offer price: 107.372%
Issue yield: 3.18%
Margin to swap: 55bps
Margin to ACGB: 58bps/April 2025
Maturity date: 9 January 2025

Source: KangaNews/FIIG Securities

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