Summary –
Floating rate notes (FRNs) continue to attract attention from yield-focused investors, especially in a rising interest rate environment. Here’s a quick look at how select ASX-listed notes are performing, based on recent trading margins and yield data.
The scatter plot highlights two Australian Unity bonds:
- AYUHD (Call Date: June 2027) offers a margin of approximately 1.25% above BBSW.
- AYUHE (Call Date: June 2028) edges slightly higher with a margin of around 1.50%.
This upward trend in margin with longer call dates reflects the market’s demand for greater compensation on extended maturities.
ASX-LISTED FLOATING RATE NOTES
| COMPANY | CODE | BOND TYPE | MATURITY | ISSUE MARGIN | TRADING MARGIN | Δ WEEK | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Centuria Capital | C2FHA | Note | 20-Apr-26 | 4.25% | -0.78% | -3.47% | 102.48 | 7.62% |
| Australian Unity | AYUHD | Bond Series D | 15-Dec-26 | 2.15% | 1.35% | -1.16% | 99.3 | 5.67% |
| Australian Unity | AYUHE | Bond Series E | 15-Dec-28 | 2.50% | 1.57% | -0.70% | 100.99 | 5.92% |
For a full breakdown of trading activity, margin changes, and performance insights, visit the