Summary-
It was a strong day for ASX hybrids, with several high-yield names grabbing attention. Westpac’s WBCPH stole the show, jumping 10.25% with a huge 19.53% trading margin and a tidy 7.19% yield – strong interest for a note just under par.
Latitude’s LFSPA wasn’t far behind, flashing an eye-catching 11.15% margin and 9.11% yield, still trading at a discount, making it one to watch for high-yield hunters.
Judo Capital’s JDOPA slipped 0.06%, but with a generous 9.44% running yield, it remains one of the most attractive picks for income-seekers looking for value.
In Corporates, Nufarm’s NFNG edged up 0.64%, yielding a solid 9.05% at $87.2, while Ramsay’s RHCPA stayed firm at $105.6, offering 8.36% – a favourite for those leaning defensive with yield in mind.
All in all, it was a day where yield ruled the headlines, and investors weren’t shy about chasing it.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Westpac | WBCPH | Capital Notes 5 | 22-09-2025 | 3.20% | 19.53% | 10.25% | 99.97 | 7.19% |
| AMP Group | AMPPB | Capital Notes 2 | 16-12-2025 | 4.50% | 6.98% | 4.08% | 101 | 8.30% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-12-2025 | 4.70% | 6.54% | 4.04% | 101.049 | 8.48% |
| Challenger | CGFPC | Capital Notes 3 | 25-05-2026 | 4.60% | 5.18% | 0.75% | 102.47 | 8.34% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-06-2026 | 4.00% | 4.16% | 2.15% | 102.099 | 7.71% |
| Suncorp | SUNPH | Capital Notes 3 | 17-06-2026 | 3.00% | 4.17% | 1.73% | 100.88 | 6.78% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-09-2026 | 4.15% | 3.84% | 1.97% | 102.5 | 7.82% |
| CBA | CBAPJ | PERLS 13 | 20-10-2026 | 2.75% | 3.47% | 1.55% | 101.05 | 6.51% |
| Latitude | LFSPA | Capital Notes | 27-10-2026 | 4.75% | 11.15% | 1.20% | 96.5 | 9.11% |
| Westpac | WBCPJ | Capital Notes 7 | 22-03-2027 | 3.40% | 4.62% | 1.46% | 102.197 | 7.23% |
| CBA | CBAPI | PERLS 12 | 20-04-2027 | 3.00% | 3.08% | 1.03% | 101.91 | 6.71% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-05-2027 | 3.80% | 4.16% | 0.95% | 102.58 | 7.54% |
| Bendigo Bank | BENPH | Capital Notes | 15-06-2027 | 3.80% | 3.70% | 1.51% | 102.5 | 7.48% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-09-2027 | 2.90% | 3.11% | 0.90% | 101.39 | 6.62% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-12-2027 | 3.50% | 3.15% | 0.93% | 103 | 7.14% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-03-2028 | 3.00% | 2.78% | 0.77% | 102.16 | 6.66% |
| CBA | CBAPL | PERLS 15 | 15-06-2028 | 2.85% | 2.98% | 0.69% | 101.76 | 6.57% |
| Suncorp | SUNPI | Capital Notes 4 | 17-06-2028 | 2.90% | 3.33% | 1.15% | 101.05 | 6.66% |
| Westpac | WBCPL | Capital Notes 9 | 22-09-2028 | 3.40% | 3.60% | 0.64% | 103.68 | 7.13% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 07-12-2028 | 2.90% | 2.84% | 0.44% | 102.2 | 6.58% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-12-2028 | 3.40% | 3.30% | 0.70% | 102.601 | 7.07% |
| Judo Capital | JDOPA | Capital Notes | 16-02-2029 | 6.50% | 3.82% | -0.06% | 112 | 9.44% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-03-2029 | 2.70% | 2.78% | 0.60% | 101.39 | 6.41% |
| Challenger | CGFPD | Capital Notes 4 | 25-05-2029 | 3.60% | 3.41% | 0.52% | 103.5 | 7.24% |
| CBA | CBAPK | PERLS 14 | 15-06-2029 | 2.75% | 2.86% | 0.63% | 101.77 | 6.46% |
| IAG | IAGPE | Capital Notes 2 | 15-06-2029 | 3.50% | 3.75% | 0.88% | 103 | 7.24% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-09-2029 | 3.70% | 2.79% | 0.37% | 105.3 | 7.17% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-09-2029 | 3.15% | 2.70% | 0.44% | 103.77 | 6.74% |
| Westpac | WBCPK | Capital Notes 8 | 21-09-2029 | 2.90% | 3.20% | 0.35% | 103.04 | 6.65% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-03-2030 | 2.75% | 2.71% | 0.42% | 101.86 | 6.43% |
| CBA | CBAPM | PERLS 16 | 17-06-2030 | 3.00% | 2.49% | 0.35% | 104.19 | 6.56% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-06-2030 | 2.80% | 2.91% | 0.45% | 101.76 | 6.51% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-09-2030 | 2.80% | 2.65% | 0.27% | 102.801 | 6.45% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-12-2030 | 3.20% | 3.10% | 0.52% | 102.85 | 6.85% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-12-2030 | 3.20% | 3.42% | 0.52% | 102.7 | 6.94% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-03-2031 | 2.90% | 2.69% | 0.51% | 102.69 | 6.53% |
| Westpac | WBCPM | Capital Notes 10 | 22-09-2031 | 3.10% | 3.11% | 0.47% | 104.21 | 6.78% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-12-2031 | 2.65% | 2.76% | 0.46% | 101.5 | 6.37% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-03-2032 | 2.60% | 2.38% | 0.19% | 103.26 | 6.22% |
ASX-Listed Hybrids (Non-standard)
| COMPANY | CODE | BOND TYPE | CALL DATE | ISSUE MARGIN (inc frank) | TRADING MARGIN | DAY CHANGE | CLOSING PRICE | RUNNING YIELD |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 5.34% | 0.64% | 87.20 | 9.05% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.65% | 0.20% | 105.60 | 8.36% |