Pricing details for BNG Bank and NWB Bank Kangaroo taps

Issuer: BNG Bank
Issuer rating: AAA/Aaa/AAA
Issue rating: as issuer
Pricing date: 24 March 2021
Settlement date: 31 March 2021
Maturity date: 19 February 2032
Lead manager: J.P. Morgan

Volume: A$100 million (US$75.8 million)
Total outstanding in the line: A$130 million
Coupon type: fixed
Coupon rate: 1.55%
Issue/re-offer price: 94.741% (plus 0.171% accrued)
Issue yield: 2.0925%
Margin to swap: 32bp/s-q
Margin to ACGB: 37.7bp/November 2031


Issuer: NWB Bank
Issuer rating: AAA/Aaa
Issue rating: as issuer
Pricing date: 25 March 2021
Settlement date: 31 March 2021
Maturity date: 16 December 2030
Lead manager: RBC Capital Markets

Volume: A$80 million
Total outstanding in the line: A$225 million
Coupon type: fixed
Coupon rate: 1.67%
Issue/re-offer price: 97.775% (plus 0.482% accrued)
Issue yield: 1.9225%
Margin to ACGB: 41.75bp/December 2030