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Tuesday 22 January 2019 by Facilitation New issues list

New Issues - week ending 21 December 2018 to 18 January 2019

New issues for the weeks ending Friday 21 December 2018, 11 January 2019 and 18 January 2019, including: Asian DB, CommBank, Columbus Capital, EDC, EIB, IA-DB, IFC, KBN, Macquarie, NWB Bank, Westpac, World Bank

Week ending Friday 21 December 2018

Nederlandse Waterschapsbank (NWB)
19 December 2018
Volume: A$15m
Total outstanding in the line: A$335 m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 102.649%
Issue yield: 3%
Margin to swap: 48bps/s-q
Margin to ACGB: 61.5bps/April 2029
Maturity date: 2 May 2029

Week ending Friday 11 January 2019

Asian Development Bank (Asian DB)
Asian Development Bank pricing a A$1bn green bond on 8 January 2019.
Volume: A$1bn
Total outstanding in the line: A1bn
Coupon type: fixed
Coupon rate: 2.45%
Issue/re-offer price: 99.918%
Issue yield: 2.4675%
Margin to swap: 42bps/s-q
Margin to ACGB: 48.15bps/April 2024
Maturity date: 17 January 2024

Commonwealth Bank of Australia (CommBank)
Commonwealth Bank of Australia printed a A$2.5 billion dual-tranche senior deal on 8 January 2019.
FRN tranche
Volume: A$2.2bn
Total outstanding in the line: A$2.2bn
Coupon rate: 3m BBSW + 113bps
Issue/re-offer price: par
Margin to swap: 113bps/3m BBSW
Maturity date: 11 January 2024

Fixed-rate tranche
Volume: A$300m
Total outstanding in the line: A$300m
Coupon rate: 3%
Issue/re-offer price: 99.151%
Issue yield: 3.185%
Margin to swap: 113bps/s-q
Maturity date: 11 January 2024

Inter-American Development Bank (IADB)
IADB opens Kangaroo market for 2019 with A$25 million 2029 tap
Volume: A$25m
Total outstanding in the line: A$250m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 103.012% (plus 0.173% accrued)
Issue yield: 2.815%
Margin to swap: 40bps/s-q
Margin to ACGB: 54bps/April 2029
Maturity date: 26 June 2029

International Finance Corporation (IFC)
IFC prices A$400 million increase to its 2023 Kangaroo social bond Volume: A$400m
Total outstanding in the line: A$700m
Coupon type: fixed
Coupon rate: 2.7%
Issue/re-offer price: 101.267%
Issue yield: 2.3775%
Margin to swap: 40bps/s-q
Margin to ACGB: 51.25bps/April 2023
Maturity date: 15 March 2023

NWB Bank (NWB)
NWB Bank’s A$30 million May 2029 Kangaroo tap
Volume: A$30m
Total outstanding in the line: A$365m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 103%
Issue yield: 2.96%
Margin to swap: 53.8bps/s-q
Maturity date: 2 May 2029

Week ending Friday 18 January 2018

Columbus Capital
Columbus Capital prices A$400 million RMBS deal

Note class	Tranche volume	Tranche rating	Weighted average life	Margin to swap	Initial credit support
A1-AU	A$260m	AAA (S&P)	1.7 years	130bps/1m BBSW	10%
A1-3Y	A$100m	AAA	3.5 years	170bps/1m BBSW	10%
AB	A$25.2m	AAA	3.4 years	200bps/1m BBSW	3.7%
B	A$6.8m	AA	3.4 years	235bps/1m BBSW	2%
C	A$4.8m	A	3.4 years	285bps/1m BBSW	0.8%
D	A$1.4m	BBB	3.4 years	380bps/1m BBSW	0.45%
E	A$1m	BB	3.4 years	575bps/1m BBSW	0.2%
F	A$0.8m	NR	3.5 years	ND	n/a

European Investment Bank (EIB)
EIB prices A$550 million August 2024 Kangaroo increase
Volume: A$550m
Total outstanding in the line: A$1.425bn
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 111.624%
Issue yield: 2.4875%
Margin to swap: 47bps/s-q
Margin to ACGB: 52.5bps/April 2024
Maturity date: 7 August 2024

Export Development Canada (EDC)
EDC prices A$400 million increase to May 2023 Kangaroo
Volume: A$400m
Total outstanding in the line: A$800m
Coupon type: fixed
Coupon rate: 2.8%
Issue/re-offer price: 101.696%
Issue yield: 2.385%
Margin to swap: 42bps/s-q
Margin to ACGB: 54.75bps/April 2023
Maturity date: 31 May 2023

International Finance Corporation (IFC)
IFC adds A$25 million to June 2029 Kangaroo
Volume: A$25m
Total outstanding in the line: A$275m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 102.756% (plus 0.242% accrued)
Issue yield: 2.8425%
Margin to swap: 41bps/s-q
Margin to ACGB: 55.5bps/April 2029
Maturity date: 26 June 2029

International Finance Corporation (IFC)
IFC adds a further A$50 million to June 2029 Kangaroo bond
Volume: A$50m
Total outstanding in the line: A$325m
Coupon type: fixed
Coupon rate: 3.15%
Issue/re-offer price: 102.938% (plus 0.242% accrued)
Issue yield: 2.8225%
Margin to swap: 41bps/s-q
Margin to ACGB: 55.05bps/April 2029
Maturity date: 26 June 2029

Kommunalbanken Norway (KBN)
KBN prices A$350 million increase to April 2023 Kangaroo bond
Volume: A$350m
Total outstanding in the line: A$1.2bn
Coupon type: fixed
Coupon rate: 4.5%
Issue/re-offer price: 108.303%
Issue yield: 2.42%
Margin to swap: 45bps/s-q
Margin to ACGB: 55.1bps/April 2023
Maturity date: 17 April 2023

Macquarie
Macquarie Bank prices A$244 million Puma 2014-1 RMBS refinancing
Note class: A-R
Tranche volume: A$244 million
Tranche rating: AAA/AAA
WAL: 2 years
Margin to swap: 110bps/1m BBSW
Initial credit support: 31.5%

NWB Bank (NWB)
NWB Bank prices A$25 million May 2029 Kangaroo tap
Volume: A$25m
Total outstanding in the line: A$420m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 103.191%
Issue yield: 2.9375%
Margin to swap: 54bps/s-q
Margin to ACGB: 66.75bps/April 2029
Maturity date: 2 May 2029

Westpac Banking Corporation (Westpac)
Westpac prints A$2.25 billion 5.25-year senior domestic deal
Volume: A$1.9bn
Total outstanding in the line: A$1.9bn
Coupon type: FRN
Coupon rate: 3m BBSW + 114bps
Issue/re-offer price: par
Margin to swap: 114bps/3m BBSW
Volume: A$350m
Total outstanding in the line: A$350m
Coupon type: fixed
Coupon rate: 3%
Issue/re-offer price: 99.76%
Issue yield: 3.2075%
Margin to swap: 114bps/s-q
Maturity date: 24 April 2024

World Bank
World Bank prices first Kauri deal of 2019 with NZ$400 million deal
Volume: NZ$400m
Total outstanding in the line: NZ$400m
Coupon type: fixed
Coupon rate: 2.5%
Issue/re-offer price: 99.920599%
Issue yield: 2.517%
Margin to swap: 41bps/mid
Margin to NZGB: 74bps/April 2023
Maturity date: 24 January 2024

Source: KangaNews

To find out more about new issues and available bonds please call FIIG on 1800 01 01 81

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