New issues for the period 22 November – 28 November 2017 including: ADB, CUA, Firstmac, IFC, OCBC, P&N Bank, Rentenbank, RBC and UOB
Asian Development Bank (ADB)
ADB priced an increase to its 2032 kangaroo bond on 23 November 2017.
Volume: A$75m
Total outstanding in the line: A$185m
Coupon type: fixed
Coupon rate: 3.8%
Issue/re-offer price: 106.282%
Issue yield: 3.2475%
Margin to swap: 45bps/s-q
Margin to ACGB: 63.5bps/April 2029
Maturity date: 23 March 2032
Credit Union Australia (CUA)
CUA issued a new, A$100m one year floating rate note on 27 November 2017.
Volume: A$100m
Total outstanding in the line: A$100m
Coupon type: FRN
Coupon rate: 3m BBSW +72bps
Issue/re-offer price: par
Margin to swap: 72bps/3m BBSW
Maturity date: 7 December 2018
Firstmac
Firstmac issued a new, A$600m residential mortgage backed securities transaction, Firstmac Mortgage Funding Trust No. 4 Series 3-2017, on 23 November 2017.
International Finance Corporation (IFC)
IFC priced an increase to its 2027 kangaroo bond on 23 November 2017.
Volume: A$50m
Total outstanding in this line: A$450m
Coupon type: fixed
Coupon rate: 3.2%
Issue/re-offer price: 101.575%
Issue yield: 3.014%
Margin to swap: 43bps/s-q
Margin to ACGB: 54.9bps/April 2027
Maturity date: 18 October 2027
Kommunalbanken Norway (KBN)
KBN priced an increase to its 2032 kangaroo bond on 24 November 2017.
Volume: A$30m
Total outstanding in the line: A$150m
Coupon type: fixed
Coupon rate: 3.74%
Issue/re-offer price: 103.73% (plus 1.372% accrued)
Issue yield: 3.405%
Margin to swap: 63bps/s-q
Margin to ACGB: 62.5bps/April 2032
Maturity date: 19 January 2032
Overseas-Chinese Banking Corporation Sydney (OCBC)
OCBC issued a new, A$125m one year domestic floating rate note on 23 November 2017.
Volume: A$125m
Total outstanding in the line: A$125m
Coupon type: FRN
Coupon rate: 3m BBSW +26bps
Issue/re-offer price: par
Margin to swap: 26bps/3m BBSW
Maturity date: 30 November 2018
P&N Bank (P&N)
P&N issued a new, A$350m residential mortgage backed securities transaction, Pinnacle Series Trust 2017-T1, on 24 November 2017.
Rentenbank
Rentenbank priced an increase to its 2028 kangaroo bond on 24 November 2017.
Volume: A$125m
Total outstanding in the line: A$425m
Coupon type: fixed
Coupon rate: 3.25%
Issue/re-offer price: 101.452% (plus 0.446% accrued)
Issue yield: 3.085%
Margin to swap: 48bps/s-q
Margin to ACGB: 54bps/May 2028
Maturity date: 12 April 2028
Royal Bank of Canada Sydney (RBC)
RBC issued a new, A$275m one year domestic floating rate note on 23 November 2017.
Volume: A$275m
Total outstanding in the line: A$275m
Coupon type: FRN
Coupon rate: 3m BBSW +30bps
Issue/re-offer price: par
Margin to swap: 30bps/3m BBSW
Maturity date: 28 November 2018
United Overseas Bank Sydney (UOB)
UOB issued a new, A$400m one year domestic bond on 22 November 2017.
Volume: A$400m
Total outstanding in the line: A$400m
Coupon type: FRN
Coupon rate: 3m BBSW +26bps
Issue/re-offer price: par
Margin to swap: 26bps/3m BBSW
Maturity date: 28 November 2018
Source: KangaNews