13 Mar – 17 Mar 2017

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ASX-listed Notes

Trading margins in the ASX-listed notes sector fell again this week. The median trading margin dropped from 1.66% to 1.48% and it was primarily driven by Tatts Bonds (ASX code: TTSHA, -64bps) and Caltex Notes (ASX code: CTXHA, -147bps), which has a September 2017 call date.

notes

NAB capital Notes 2 (ASX code: NABPE) is expected to start trading Tuesday 21 March on a “deferred delivery” basis. This means the securities can be bought and sold in the usual manner but settlement of any transaction will be deferred until 29 March. Normally ASX transaction settle two days after the transaction date.

Crown Resorts has reported it has now bought back 20.6% of its series 1 notes (ASX code: CWNHA), up from the 10% it reported one week earlier. Crown has been buying the notes on market at various prices and on various days.

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%1.42%0.13%105.153.22%
AMPAMPHASub Note II18-Dec-182.65%1.48%0.21%101.903.28%
ANZ Banking GroupANZHASub Note II14-Jun-172.75%1.16%0.18%100.312.96%
APT PipelinesAQHHASub Note31-Mar-184.50%1.64%-0.04%104.113.44%
Australian UnityAYUHBBond15-Dec-202.80%1.59%-0.09%105.003.39%
ColonialCNGHASub Note31-Mar-173.25%-1.85%0.00%100.88-0.05%
CaltexCTXHASub Note15-Sep-174.50%1.21%-1.47%101.593.01%
CrownCWNHASub Note14-Sep-185.00%3.94%0.08%101.665.74%
CrownCWNHBSub Note23-Jul-214.00%5.12%-0.45%96.006.92%
Goodman GroupGMPPASub Note30-Sep-183.90%3.33%-0.11%102.015.13%
Bentham IMFIMFHABond30-Jun-194.20%4.01%0.10%101.505.81%
Nat Aust BankNABHBSub Note II18-Jun-172.75%1.17%0.18%100.312.97%
QUBE Holdings LimitedQUBHASub Note5-Oct-233.90%3.02%-0.09%105.854.82%
Suncorp MetwaySUNPDSub Note III21-Nov-182.85%1.30%-0.35%102.763.10%
TabcorpTAHHBSub Bond22-Mar-174.00%2.86%0.00%101.134.66%
TattsTTSHASnr. Bond5-Jul-193.10%1.02%-0.64%105.502.82%
WestpacWBCHASub Note II23-Aug-172.75%1.48%0.05%100.763.28%
WestpacWBCHBSub Note III22-Aug-182.30%1.33%0.19%101.553.13%

ASX LISTED FIXED RATE BONDS

COMPANYCODETYPEMATURITYCOUPONWEEK
HIGH
WEEK
LOW
WEEK
CLOSE
YTMNEXT DIV
AND EX
DATE
Heritage BSHBSHBSnr Bond20/06/20177.25%101.10100.50101.002.82%14.40%
** 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