6 Feb – 10 Feb 2017

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ASX-listed notes

Trading margins for ASX-listed notes dropped back this week and the median trading margin fell from 1.79% to 1.63%. Whether this is a sign of likely demand for NAB’s latest Tier 2 offering remains to be seen but history suggest NAB will not have trouble getting this issue of FRNs away. The fall was driven by Tatts Notes (ASX code: TTSHA, -62bps), AMP Notes (AMPHA, -52bps) and Westpac Notes II (ASX code: WBCHB, -36bps).

170210 notes

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%1.62%-0.34%105.743.39%
AMPAMPHASub Note II18-Dec-182.65%1.02%-0.52%103.502.79%
ANZ Banking GroupANZHASub Note II14-Jun-172.75%0.97%0.20%101.202.74%
APT PipelinesAQHHASub Note31-Mar-184.50%1.92%0.09%103.453.69%
Australian UnityAYUHBBond15-Dec-202.80%1.63%-0.25%104.503.40%
ColonialCNGHASub Note31-Mar-173.25%-1.85%0.00%100.85-0.08%
CaltexCTXHASub Note15-Sep-174.50%1.39%-0.05%102.733.16%
CrownCWNHASub Note14-Sep-185.00%4.24%0.14%102.206.01%
CrownCWNHBSub Note23-Jul-214.00%5.67%0.01%94.857.44%
Goodman GroupGMPPASub Note30-Sep-183.90%3.40%0.44%101.405.17%
Bentham IMFIMFHABond30-Jun-194.20%3.71%0.13%101.605.48%
Nat Aust BankNABHBSub Note II18-Jun-172.75%1.15%0.02%101.152.92%
QUBE Holdings LimitedQUBHASub Note5-Oct-233.90%2.91%0.12%106.014.68%
Suncorp MetwaySUNPDSub Note III21-Nov-182.85%1.66%-0.09%103.003.43%
TabcorpTAHHBSub Bond22-Mar-174.00%2.86%1.87%101.074.63%
TattsTTSHASnr. Bond5-Jul-193.10%0.90%-0.62%105.502.67%
WestpacWBCHASub Note II23-Aug-172.75%0.92%-0.33%101.882.69%
WestpacWBCHBSub Note III22-Aug-182.30%1.58%-0.36%101.903.35%

ASX LISTED FIXED RATE BONDS

COMPANYCODETYPEMATURITYCOUPONWEEK
HIGH
WEEK
LOW
WEEK
CLOSE
YTMNEXT DIV
AND EX
DATE
Heritage BSHBSHBSnr Bond20/06/20177.25%102.85102.02102.114.08%127.62%

ASX LISTED CONVERTIBLE NOTES

COMPANYCODEFACE
VALUE
MATURITYWEEK
HIGH
WEEK
LOW
WEEK
CLOSE
YTM
Aust FoundationAFIG$100.0028-Feb-17114.50112.50114.00170.27%

** 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