Summary-
April 28th shows hybrids trading broadly firmer, with Latitude’s LFSPA leading gains, closing up 0.97% at $95.85 with a standout 9.26% yield. Judo Capital’s JDOPA remains the yield leader, offering 9.59% as it continues to trade at a premium of $110.80. Meanwhile, Nufarm’s NFNG dipped 0.43%, highlighting volatility in perpetual issues. Overall, the market shows solid demand for high-yield hybrids despite scattered softness.
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-Sep-25 | 3.20% | 8.33% | 2.25% | 100.80 | 7.26% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 3.25% | 0.77% | 101.81 | 8.35% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.69% | 0.36% | 102.17 | 8.50% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.58% | -0.04% | 103.75 | 8.33% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.37% | 0.38% | 102.84 | 7.77% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.44% | 0.61% | 101.56 | 6.87% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 2.19% | 0.45% | 103.64 | 7.86% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 2.06% | 0.18% | 101.90 | 6.60% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 10.09% | 0.97% | 95.85 | 9.26% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 3.30% | 0.08% | 103.15 | 7.29% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.92% | 0.26% | 102.96 | 6.77% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 3.18% | 0.73% | 103.07 | 7.61% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.57% | 0.17% | 103.50 | 7.53% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.17% | 0.26% | 102.47 | 6.70% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 2.24% | 0.12% | 104.04 | 7.19% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.99% | 0.03% | 103.37 | 6.73% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 2.01% | 0.13% | 103.32 | 6.60% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.40% | 0.22% | 102.43 | 6.71% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.86% | 0.21% | 104.60 | 7.19% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.37% | 0.23% | 102.75 | 6.69% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.64% | 0.10% | 103.50 | 7.13% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 3.76% | 0.47% | 110.80 | 9.59% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 2.10% | 0.06% | 102.78 | 6.48% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.75% | 0.22% | 104.51 | 7.29% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.13% | 0.09% | 103.20 | 6.51% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 3.07% | -0.06% | 104.22 | 7.29% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.24% | 0.14% | 106.31 | 7.23% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 2.19% | 0.06% | 104.56 | 6.82% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.71% | 0.01% | 103.65 | 6.75% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.21% | -0.01% | 103.00 | 6.51% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 2.20% | 0.06% | 104.37 | 6.68% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.48% | 0.09% | 102.45 | 6.61% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.19% | 0.03% | 103.70 | 6.53% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.55% | 0.13% | 104.09 | 6.90% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.94% | 0.15% | 103.79 | 7.01% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 2.25% | 0.01% | 103.85 | 6.60% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.63% | 0.06% | 105.30 | 6.84% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.26% | 0.06% | 103.00 | 6.42% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.19% | 0.19% | 103.25 | 6.36% |
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| Nufarm | NFNG | Step Up | Perpetual | 3.90% | 4.69% | -0.43% | 91.89 | 8.61% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.40% | 0.02% | 106.41 | 8.32% |