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Wednesday 21 August 2019 by FIIG Securities New issues list

New Issues - 5 August to 16 August

New issues for the week ending Friday 16 August 2019, including: ACT, BNG, Eurofima, Rentenbank, WATC, World Bank.

Australian Capital Territory (ACT)

ACT prints A$1 billion May 2025 syndicated deal

Volume: A$1bn
Total outstanding in the line: A$1bn
Coupon type: fixed
Coupon rate: 1.25%
Issue/re-offer price: 100.499%
Issue yield: 1.16%
Margin to EFP: +50bps
Margin to ACGB: 42.4bps/April 2025

Maturity date: 22 May 2025

BNG Bank (BNG)

BNG Bank prints A$30 million April 2029 Kangaroo increase

Volume: A$30m
Total outstanding in the line: A$780m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.876%
Issue yield: 1.53%
Margin to swap: 52bps/s-q
Margin to ACGB: 55.75bps/April 2029

Maturity date: 26 April 2029

BNG Bank (BNG)

BNG Bank prints A$25 million April 2029 Kangaroo tap

Volume: A$25m
Total outstanding in the line: A$805m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 116.548%
Issue yield: 1.46%
Margin to swap: 52bps/s-q
Margin to ACGB: 56.7bps/April 2029

Maturity date: 26 April 2029

Eurofima (Eurofima)

Eurofima prints A$20 million May 2029 Kangaroo tap

Volume: A$20m
Total outstanding in the line: A$405m
Coupon type: fixed
Coupon rate: 3.35%
Issue/re-offer price: 116.441% (plus 0.856% accrued)
Issue yield: 1.5275%
Margin to swap: 62bps/s-q
Margin to ACGB: 65.4bps/April 2029

Maturity date: 21 May 2029

Rentenbank (Rentenbank)

Rentenbank prints A$75 million tap of May 2029 Kangaroo

Volume: A$75m
Total outstanding in the line: A$780m
Coupon type: fixed
Coupon rate: 4.75%
Issue/re-offer price: 122.926% (plus 1.41% accrued)
Issue yield: 1.1825%
Margin to swap: 44bps/s-q
Margin to ACGB: 42.75bps/April 2026

Maturity date: 6 May 2026

Western Australian Treasury Corporation (WATC)

WATC prints A$1.1 billion syndicated February 2024 FRN deal

Volume: A$1.1bn
Total outstanding in the line: A$1.1bn
Coupon type: FRN
Coupon rate: 3m BBSW +24bps
Issue/re-offer price: par
Margin to swap: 24bps/3m BBSW

Maturity date: 21 February 2024

World Bank (World Bank)

World Bank prints A$50 million bond-I Kangaroo tap

Volume: A$50m
Total outstanding in the line: A$160m
Coupon type: fixed
Coupon rate: 2.2%
Issue/re-offer price: 101.318%
Issue yield: 0.915%
Margin to swap: 18bps/s-q
Margin to ACGB: 5bps/April 2020

Maturity date: 28 August 2020

New issues for the week ending Friday 9 August 2019, including: ADB, BNG, ING, NWB, Police Bank, OIC.

Asian Development Bank (ADB)

ADB prices A$350 million five-year Kangaroo deal

Volume: A$350m
Total outstanding in the line: A$350m
Coupon type: fixed
Coupon rate: 1.1%
Issue/re-offer price: 99.855%
Issue yield: 1.13%
Margin to swap: 35bps/s-q
Margin to ACGB: 44bps/April 2024

Maturity date: 15 August 2024

BNG Bank (BNG)

BNG Bank prices A$25 million April 2029 Kangaroo increase

Volume: A$25m
Total outstanding in the line: A$750m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.268%
Issue yield: 1.595%
Margin to swap: 52bps/s-q
Margin to ACGB: 57.75bps/April 2029

Maturity date: 26 April 2029

ING Bank Australia (ING)

ING Australia prints A$750 million five-year dual-tranche covered bond

Fixed-rate tranche
Volume: A$500m
Total outstanding in the line: A$500m
Coupon rate: 1.45%
Issue/re-offer price: 99.976%
Issue yield: 1.455%
Margin to swap: 67bps/s-q

Floating-rate tranche
Volume: A$250m
Total outstanding in the line: A$250m
Coupon rate: 3m BBSW +67bps
Issue/re-offer price: par
Margin to swap: 67bps/3m BBSW

Maturity date: 20 August 2024

NWB Bank (NWB)

NWB Bank prices A$50 million May 2029 Kangaroo increase

Volume: A$50m
Total outstanding in the line: A$695m
Coupon type: fixed
Coupon rate: 3.3%
Issue/re-offer price: 115.436% (plus 0.933% accrued)
Issue yield: 1.58%
Margin to swap: 57.5bps/s-q
Margin to ACGB: 61.9bpsApril 2029

Maturity date: 2 May 2029

Police Bank (Police Bank)

Police Bank prints A$20 million one-year FRN deal

Volume: A$20m
Total outstanding in the line: A$20m
Coupon type: FRN
Coupon rate: 3m BBSW +50bps
Issue/re-offer price: par
Margin to swap: 50bps/3m BBSW

Maturity date: 16 August 2020

QIC Shopping Centre Fund (QIC)

QIC Shopping Centre Fund prices A$300 million six-year dual-tranche green bond

Fixed-rate tranche
Volume: A$200m
Total outstanding in the line: A$200m
Coupon rate: 2%
Issue/re-offer price: 99.383%
Issue yield: 2.11%
Margin to swap: 127bps/s-q

Floating-rate tranche
Volume: A$100m
Total outstanding in the line: A$100m
Coupon rate: 3m BBSW +127bps
Issue/re-offer price: par
Margin to swap: 127bps/3m BBSW

Maturity date: 15 August 2025

Source: KangaNews

Earn over 6% pa*
with Corporate Bonds

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