08 June – 12 June 2015

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A moderately busy week for new issues with Singtel-Optus issuing $200m at a fixed rate, Bank of Queensland issuing $100m of FRNs and Bendigo and Adelaide Bank pricing its latest RMBS Torrens Series 2015-1 Trust. Offshore CBA issued £200m of FRNs and Rio Tinto issued US$1.2bn at a fixed rate. There were also a few Kangaroo issues. SCT Logistics launched a new unrated senior-unsecured issue for $75-85m from a dual-tranche deal through FIIG Securities.

iTraxx edged down by 0.7 over the week to 90.5.
Our benchmark corporates all saw their yields rise last week, running contrary to ACGB.

corporate-bonds-12juneitraxx-12june

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AUST CORPORATE BONDS

ISSUERMATURITYCOUPON (%)RATINGWEEK HIGHWEEK LOWCLOSING YIELDΔ WEEKΔ MONTH
ANZ9-May-166.75AA-2.382.352.370.020.15
WESTPAC9-May-166.75AA-2.392.362.380.020.14
TRANSURBAN8-Jun-166.75A-3.213.173.200.030.24
STOCKLAND1-Jul-167.50A-2.972.932.960.030.19
FONTERRA11-Jul-166.25A+2.772.732.750.040.22
TELSTRA2-Aug-167.00A2.522.482.510.020.22
MLBAIRPORT25-Aug-167.00A-3.032.993.020.020.19
MIRVAC FIN16-Sep-168.00BBB+3.163.113.150.030.19
WESFARMERS4-Nov-166.00A-2.682.642.660.030.23
WESTPAC18-Nov-167.25AA-2.502.452.480.020.21
CB SUNCORP6-Dec-164.75N/A2.602.562.580.030.20
CB CBA25-Jan-175.75N/A2.472.422.450.020.20
AUSTPOST6-Feb-175.5AA2.792.742.770.020.26
CB WESTPAC6-Feb-175.75N/A2.482.432.460.020.20
NAB15-Feb-176.00AA-2.552.502.530.020.24
WESTPAC20-Feb-176.00AA-2.542.492.520.020.23
CROWN18-Jul-175.75BBB3.533.473.510.040.30
BPCAP5-Sep-174.50A3.063.003.030.020.28
BHP18-Oct-173.75A+3.002.902.990.080.46
TELSTRA15-Nov-174.00A2.802.732.770.040.34
HSBC16-Nov-174.25AA-2.892.822.850.010.29
WESTPAC24-Jan-184.25AA-2.822.742.770.010.30
CBA25-Jan-184.25AA-2.822.742.770.010.30
NAB7-Mar-187.25AA-2.852.772.800.010.30
ANZ17-Apr-184.25AA-2.912.822.860.010.31
NAB23-May-184.00AA-2.942.842.880.010.32
SYDAIRPORT6-Jul-187.75BBB3.583.483.510.010.29
ANZ6-Nov-184.50AA-3.082.983.010.020.34
LENDLEASE13-Nov-185.50BBB-4.033.923.970.050.43
TELSTRA13-Nov-184.50A3.052.942.980.040.41
WESTPAC25-Feb-194.50AA-3.123.013.050.010.32
WOOLWORTHS21-Mar-196.00A-3.373.263.300.010.47
WESFARMERS28-Mar-196.25A-3.313.23.230.020.39
CBA24-Apr-194.25AA-3.193.073.110.010.33
BRISAIR9-Jul-198.00BBB3.743.623.660.010.42
STOCKLAND6-Sep-195.5A-3.803.683.720.020.43
DBNGP11-Oct-196.00BBB-4.344.224.270.020.42
WESTF RET23-Oct-195.00A3.813.683.730.020.44
CFS RETAIL19-Dec-195.00A3.683.553.600.020.44
CBA5-Feb-207.25AA-3.383.253.300.020.40
WESTPAC11-Feb-207.25AA-3.393.273.310.020.42
WESFARMERS12-Mar-204.75A-3.563.423.470.020.44
QANTAS27-Apr-206.50BB+5.165.005.070.060.23
LENDLEASE13-May-206.00BBB-4.394.254.320.030.49
MLBAIRPORT4-Jun-205.00A-3.823.683.740.030.47
TELSTRA15-Jul-207.75A3.423.283.340.040.51
PERAIR23-Jul-206.00BBB4.023.873.950.050.56
MIRVAC FIN18-Sep-205.75BBB+4.093.944.000.030.45
BRISAIR21-Oct-206.00BBB4.043.893.960.040.54
AUSTPOST13-Nov-205.00AA3.543.403.470.040.51
STOCKLAND25-Nov-208.25A-4.083.933.990.030.49
UNISYD16-Apr-214.75N/A3.483.323.400.040.50
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