Tabcorp Holdings has given notice of its intention to redeem all its ASX-listed subordinated notes (ASX code: TAHHB). Holders on the register on 14 March 2017 will receive $100 face value plus the final interest payment of $1.43 per note on 22 March 2017. The last day of trading is 10 March 2017.
The number of ASX-listed notes and bonds is set to decline over the next few years. There were around twenty or so securities of this type listed on the ASX, not including income securities, before ORGHA and WOWHC matured at the end of 2016. Of these, six will mature in 2017, another six will mature in 2018 and a further three will mature in 2019. Previous issuers of notes and bonds seem to have been favouring capital notes and preference shares in recent years. As their notes mature, there are few new securities to replace them. Qube Holdings Notes (ASX code: QUBHB) were the only ASX-listed notes issued in 2016 with Australian Unity notes the only issue of this type in 2015.