Years to Maturity DBN R

Transcription

1 IJG Namibian Bond & Money Market Curves 14 January 219 (%) Modif ied Latest prem ium Close P revious Benc hm ark Duration (bps) 11-Jan-19 4-Jan Jan-19 Government Bonds A LBI Bank Rate GC R R Current P revious GC R Bank Rate R Prime GC R GC R GC R GC R Treasury Bills GC R Current P revious GC R Jan-19 4-Jan R R T-Bill (91 day)* R T-Bill (182 day)* GI T-Bill (273 day)* GI T-Bill (365 day)* GI GI Eurobond USBond * average nominal yields from the most recent primary auction ZA R Bond R NA M R NA M R NA M R IJG Money Market Curve Parastatal & Corporate Bonds - Fixed Coupon BWFd NAMITB 4/26/ BWFh R FNBX GC SBKN R NMP 19N R NWC R BW R NMP R IFC R FNBX GC BWR j FBNX GC NWC R BWFH GC BWFK R to Maturity DBN R Year Ago 1 Month Ago Last Trade NEDNA M GC NEDX GC Parastatal & Corporate Bonds - Floating Coupon BWJ j month JIBAR.36 BWJ i month JIBAR.175 Average Bank Deposit BWJ d month JIBAR.23 Current P revious BWJ L21G month JIBAR Jan-19 4-Jan-19 BWJ h month JIBAR.99 Call BWJ k month JIBAR.17 3 month BWJ 1e month JIBAR.11 6 month BWJ 2e month JIBAR month FNBJ month JIBAR.55 FNBJ month JIBAR.55 FBNJ month JIBAR.23 O R Y month JIBAR.14 Average NCD Rates SBNA month JIBAR.5 Current P revious SBNA month JIBAR Jan-19 4-Jan-19 SBNA month JIBAR month DBN month JIBAR month SBKN month JIBAR.36 9 month NEDNA M month JIBAR month NEDJ month JIBAR.126

2 IJ G Nam ibian Bond & Money Market Curves 14 J anuary 219 IJG Bond Curve IJG Bond Curve versus SA Benchmarks (latest) GC24 GC25 GC22 GC2 GC3 GC32 GC27 GC35 GC24 GC25 R213 R29 R237 R214 R244 GC2 GC22 R27 R223 R28 GC27 GC3 R186 GC32 GC35 Log. (Today) Log. (Month Ago) Log. (IJG Curve) Log. (SA curve) BWFh19 Corporate Bonds realtive to IJG Bond Curve FNBX19 NWC2 BWFh19 BWFK22 GC25 GC24 FBNX27 FNBX21 BWRj21 GC27 GC3 GC32 GC35 Total Dom estic Debt O utstanding in N$ bn Government % Treasury Bills % Bonds % Corporate % TOTAL % Eurobond US$1, 25m ZA R Bond R 2, 892m IJ G A ll Bond Index End December 218 End November IJG Money Market Index End December End November Source: Bond Issuers, BoN, IJG

3 Namibian Debt in Is s ue Government Bonds Benchmark M aturity Date Coupon Rate Coupon Date 1 Coupon Date 2 in N$ m to date Y TM Duration Issue Date GC2 R27 15-Apr % 15-Apr 15-Oct Apr-15 GC2 1 R28 15-Oct % 15-Apr 15-Oct Jun-12 GC2 2 R Jan % 15-Jan 15-Jul Apr-15 GC2 3 R Oct % 15-Apr 15-Oct Jun-18 GC2 4 R Oct % 15-Apr 15-Oct Jan-12 GC2 5 R Apr % 15-Apr 15-Oct Jul-13 GC2 7 R Jan-27 % 15-Jan 15-Jul Jul-12 GC3 R23 15-Jan-3 % 15-Jan 15-Jul Jul-12 GC3 2 R Apr-32 % 15-Apr 15-Oct Jul-13 GC3 5 R29 15-Jul % 15-Jan 15-Jul Jul-13 GC3 7 R Jul % 15-Jan 15-Jul Jul-13 GC4 R Oct-4 9.8% 15-Apr 15-Oct Jul-12 GC4 5 R Jul % 15-Jan 15-Jul M ay-15 GI2 2 None 15-Oct % 15-Apr 15-Oct Aug-15 GI2 5 None 15-Jul % 15-Jan 15-Jul Aug-15 GI2 9 None 15-Jan % 15-Jan 15-Jul Jun-17 GI3 3 None 15-Apr % 15-Apr 15-Oct Jul-18 Euro b o nd ( U S$) 1YUSBond 3-Nov % 3-M ay 3-Nov Oct-11 Euro b o nd 2 1YUSBond 29-Oct % 29-Apr 29-Oct Oct-15 NAM 1 R Nov % 19-M ay 19-Nov Nov-12 NAM 2 R28 29-Jun-2 9.6% 29-Dec 29-Jun Jun-15 NAM 3 R223 1-Aug-23 6% 1-Aug 1-Feb Aug-16 NAM 4 R186 1-Aug % 1-Aug 1-Feb Aug-16 T o t al Go v B o nd s ( D o mest ic) : Corporate Bonds B W F d 19 NAM ITB 4/26/19 25-Apr % 25-Apr 25-Oct Apr-14 B W F h19 R27 22-Aug % 22-Aug 22-Feb Aug-14 FNBX 19 GC2 1-Nov-19 8% 1-M ay 1-Nov Nov-16 SBKN2 4 R27 23-Oct-19 % 23-Apr 23-Oct Oct-14 NM P19 N R27 1-Nov-19 % 1-M ay 1-Nov Jul-7 NWC2 R28 24-Apr-2 5% 24-Apr 24-Oct Apr-15 BW2 5 R28 17-Aug % 17-Feb 17-Aug Aug-15 NM P2 R27 24-Jul % 24-Jul 24-Jan Nov-9 IFC2 1 R28 5-Apr % 19-Jun 19-Dec M ar-16 FNBX 2 1 GC22 1-Nov % 1-M ay 1-Nov Nov-16 BWRj Oct % 15-Apr 15-Oct Oct-16 FBNX 2 7 GC22 29-M ar % 29-M ar 29-Sep M ar-17 NWC2 2 R Apr % 24-Apr 24-Oct Apr-15 BWFH2 2 GC22 18-Aug % 18-Feb 18-Aug Feb-18 BWFK2 2 R Nov % 21-M ay 21-Nov Nov-18 DBN2 3 R223 4-Dec % 28-Feb 31-Aug Dec-18 NEDNAM 1 GC24 1-Aug % 1-Feb 1-Aug Aug-17 NEDX 2 3 GC25 28-Feb % 28-Feb 31-Aug Feb-18 B W jj19 3m JIBAR 25-Oct % 25-Apr/25-Jul 25-Oct/25-Jan Oct-16 BWJi2 3m JIBAR 18-Sep % 18-M ar/18-jun 18-Sep/18-Dec Jul-17 BWJd2 1 3m JIBAR 2-Apr % 2-Jan/2-Apr 2-Jul/2-Oct Jul-17 BWJL2 1G 3m JIBAR 6-Dec % 6-M ar/6-jun 6-Sep/6-Dec Dec-18 BWJh2 2 3m JIBAR 18-Aug % 18-Feb/18-M ay 18-Aug/18-Nov Jul-17 BWJK2 2 3m JIBAR 21-Nov % 21-Feb/21-M ay 21-Aug/21-Nov Nov-18 BWJ1e2 7 3m JIBAR 19-M ay % 19-M ay/19-aug 19-Nov/19-Feb M ay-17 BWJ2 e2 7 3m JIBAR 19-M ay-27 3% 19-M ay/19-aug 19-Nov/19-Feb M ay-17 DBN2 3m JIBAR 4-Sep-2 5% 19-M ay/19-aug 19-Nov/19-Feb Sep-17 F N B J19 3m JIBAR 1-Nov % 1-Feb/1-M ay 1-Aug/1-Nov Nov-16 FNBJ2 1 3m JIBAR 1-Nov-21 3% 1-Feb/1-M ay 1-Aug/1-Nov Nov-16 FBNJ2 7 3m JIBAR 29-M ar % 29-M ar/29-jun 29-Sep/29-Dec M ar-17 ORY 19 3m JIBAR 2-Nov % 2-Feb/2-M ay 2-Aug/2-Nov Nov-17 SBKN2 3m JIBAR 25-Oct % 25-Jan/25-Apr 25-Jul/25-Oct Oct-17 SBNA2 1 3m JIBAR 13-Jul % 13-Oct/13-Jan 13-Apr/13-Jul Jul-18 SBNA2 2 3m JIBAR 24-M ay % 24-Aug/24-Nov 24-Feb/24-M ay M ay-16 SBNA2 3 3m JIBAR 24-M ay-19 3% 24-Aug/24-Nov 24-Feb/24-M ay M ay-16 NEDNAM 2 3m JIBAR 1-Aug % 1-Nov/1-Feb 1-M ay/1-aug Aug-17 NEDJ m JIBAR 28-Feb % 28-M ay/28-aug 28-Nov/28-Feb Feb-18 Total Corporate Bonds ( Domestic) : T OT A L D EB T in T B s T OT A L D OM EST IC D EB T

4 Jan-17 Feb-17 Mar-17 Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 May-18 Jun-18 Jul-18 Aug-18 Sep-18 Oct-18 Nov-18 Dec-18 Value Traded in N$ m Value Traded in N$ m Dec-16 Feb-17 Apr-17 Jun-17 Aug-17 Oct-17 Dec-17 Feb-18 Apr-18 Jun-18 Aug-18 Oct-18 Dec-18 Bonds Issued in N$ m Cummulative Bonds in Issue in N$ m Net Bonds Issued per Annum vs. Cumulative Monthly GRN Debt Issued vs. Cumulative Debt Bonds in Issue in Issue for last 12 months Bonds Issued (LHS) Cummulative Bonds in Issue (RHS) Bonds Issued [lhs] Cummulative Bonds in Issue [rhs] GRN Debt Issued [lhs] Cummulative GRN Debt [rhs] Secondary Bond Trades per Annum Monthly Secondary Bond Trades for last 12 Months Value Traded Value Traded (N$m)

5 IJG Holdings Group Chairman Group Managing Director Group Financial Manager Mathews Hamutenya Mark Späth Helena Shikongo Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) IJG Securities Managing Director Equity & Fixed Income Dealing Sales and Research Lyndon Sauls Leon Maloney Eric van Zyl Danie van Wyk Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) Settlements & Administration Financial Accountant Annetjie Diergaardt Tashiya Josua Cecil Goliath Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) IJG Wealth Management Managing Director Portfolio Manager Money Market & Administration René Olivier Ross Rudd Emilia Uupindi Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) Wealth Manager Wealth Administration Alexa Reilly Lorein Kazombaruru Tel: +264 (61) Tel: +264 (61) IJG Capital Managing Director Portfolio Manager Business Analyst Business Analyst Herbert Maier Jakob de Klerk Mirko Maier Ilona Shikongo Tel: +264 (61) Tel: +264 (61) Tel: +264 (61) Tel: herbert@ijg.net jakob@ijg.net mirko@ijg.net Ilona@ijg.net IJG Advisory Director Business Analyst Jolyon Irwin Jason Hailonga Tel: +264 (61) Tel: +264 (61) jolyon@ijg.net jason@ijg.net No representation is given about, and no responsibility is accepted, for the accuracy or completeness of this document. Any views reflect the current views of IJG Holdings (Pty) Ltd. The views reflected herein may change without notice. IJG Holdings (Pty) Ltd provides this document to you for information purposes only and should not be constructed as and shall not form part of an offer or solicitation to buy or sell securities or derivatives. It may not be reproduced, distributed or published by any recipient for any purposes.