13 Feb – 17 Feb 2017

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ASX-listed notes

Trading margins for ASX-listed notes were lower again this week and the median trading margin fell from 1.63% to 1.52%. Despite the overall fall in margins, the only notable movement in this segment of the market came from AGL Notes (ASX code: AGLHA, +30bps).

notes

Other news in this space included NAB’s announcement of the margin on its note latest offering . Australian Foundation convertible notes (ASX code: AFIG) ceased trading on 16 February and they have been removed from our tables.

ASX LISTED FLOATING RATE NOTES

COMPANY
$100
Face Val
CODEBOND
TYPE
MATURITYISSUE
MARGIN
TRADING
MARGIN
Δ WEEKWEEK
CLOSE
YTM
Est**
AGLAGLHASub Note8-Jun-193.80%1.94%0.32%105.103.72%
AMPAMPHASub Note II18-Dec-182.65%1.08%0.06%103.452.86%
ANZ Banking GroupANZHASub Note II14-Jun-172.75%0.77%-0.20%101.322.55%
APT PipelinesAQHHASub Note31-Mar-184.50%2.22%0.30%103.204.00%
Australian UnityAYUHBBond15-Dec-202.80%1.54%-0.09%104.903.32%
ColonialCNGHASub Note31-Mar-173.25%-1.85%0.00%100.90-0.07%
CaltexCTXHASub Note15-Sep-174.50%1.37%-0.01%102.803.15%
CrownCWNHASub Note14-Sep-185.00%4.44%0.20%102.026.22%
CrownCWNHBSub Note23-Jul-214.00%5.79%0.11%94.617.57%
Goodman GroupGMPPASub Note30-Sep-183.90%3.06%-0.34%102.024.84%
Bentham IMFIMFHABond30-Jun-194.20%3.58%-0.13%102.005.36%
Nat Aust BankNABHBSub Note II18-Jun-172.75%1.23%0.09%101.183.01%
QUBE Holdings LimitedQUBHASub Note5-Oct-233.90%3.01%0.10%105.504.79%
Suncorp MetwaySUNPDSub Note III21-Nov-182.85%1.48%-0.18%102.213.26%
TabcorpTAHHBSub Bond22-Mar-174.00%2.86%0.00%101.104.64%
TattsTTSHASnr. Bond5-Jul-193.10%1.05%0.16%105.192.83%
WestpacWBCHASub Note II23-Aug-172.75%1.19%0.27%100.652.97%
WestpacWBCHBSub Note III22-Aug-182.30%1.51%-0.08%101.053.29%

ASX LISTED FIXED RATE BONDS

COMPANYCODETYPEMATURITYCOUPONWEEK
HIGH
WEEK
LOW
WEEK
CLOSE
YTMNEXT DIV
AND EX
DATE
Heritage BSHBSHBSnr Bond20/06/20177.25%102.85102.12102.503.10%141.52%

** YTM for floating rate securities is an estimate using current interest rates. This will vary if rates change.
Source: Evans & Partners. Dealing Contact Michael Saba +61 3 9631 9813