ASX listed notes

Summary –

ASX-listed floating rate notes traded mixed this week, reflecting investors’ ongoing reassessment of credit risk and rate expectations following recent bond market volatility.

Centuria Capital’s C2FHA note led the declines, with its trading margin slipping 34bps to -0.65%, while the price eased to $102.48. Despite this movement, the note continues to offer a robust running yield of 7.63%, highlighting solid investor demand for higher-yielding corporate paper.

Among the Australian Unity issues, performance was relatively stable.

• The AYUHD (Series D) bond saw a 1.06% weekly decline, closing at $99.30 with a trading margin of 1.45% and a running yield of 5.67%.

• The AYUHE (Series E) bond dipped 0.66% over the week, finishing at $100.99 and delivering a running yield of 5.91%.

Overall, trading margins remain compressed, consistent with firm secondary market demand despite moderate weekly declines. Investors continue to favour short-to-medium tenor floating rate notes offering strong yield pickup over bank hybrids and term deposits.

 Figure 1: ASX-Listed Notes

• 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%	-0.65%	-3.34%	102.48	7.63%
  Australian Unity	AYUHD	Bond Series D	15-Dec-26	2.15%	1.45%	-1.06%	99.3	5.67%
  Australian Unity	AYUHE	Bond Series E	15-Dec-28	2.50%	1.61%	-0.66%	100.99	5.91%

For a full breakdown of trading activity, margin changes, and performance insights, visit the YieldReport Weekly ASX Notes