Summary-
On March 26th, 2025, Judo Capital (JDOPA) led the market with an impressive 9.54% yield, showing strong investor demand for their high-yielding capital notes. Latitude (LFSPA) followed closely at 9.23%, maintaining its appeal amid a stable market. AMP Group (AMPPB) saw a slight increase to 8.50%, reflecting consistent investor confidence in its offerings. Meanwhile, Macquarie Bank (MBLPC) closed at 8.67%, marking a solid performance and further cementing its strong presence in the hybrid securities market.
Nufarm (NFNG) closed at 94, delivering an impressive 9.04% yield, even with a modest 0.04% dip, highlighting its strong income potential. Meanwhile, Ramsay Health Care (RHCPA) finished at 108.391, offering a compelling 8.73% yield, with only a slight -0.05% change, solidifying its appeal to yield-seeking investors.
ASX-Listed Hybrids
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 5.63% | 5.63% | 100.05 | 7.53% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 6.60% | 6.60% | 100.44 | 7.43% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.57% | 2.57% | 101.65 | 8.50% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.41% | 2.41% | 101.85 | 8.67% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.23% | 2.23% | 103.47 | 8.49% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 1.96% | 1.96% | 102.70 | 7.92% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.27% | 2.27% | 101.14 | 7.05% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.71% | 1.71% | 103.79 | 7.99% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.76% | 1.76% | 101.75 | 6.76% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 7.87% | 7.87% | 97.50 | 9.23% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 2.98% | 2.98% | 103.00 | 7.45% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.90% | 1.90% | 102.40 | 6.97% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.42% | 2.42% | 103.73 | 7.70% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.14% | 2.14% | 103.68 | 7.65% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.07% | 2.07% | 102.16 | 6.88% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.91% | 1.91% | 104.19 | 7.33% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.64% | 1.64% | 103.81 | 6.86% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.91% | 1.91% | 102.98 | 6.78% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.12% | 2.12% | 102.55 | 6.86% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.51% | 2.51% | 104.90 | 7.31% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.10% | 2.10% | 103.05 | 6.83% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.33% | 2.33% | 103.76 | 7.26% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 2.92% | 2.92% | 112.51 | 9.54% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.85% | 1.85% | 103.14 | 6.62% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.37% | 2.37% | 105.05 | 7.39% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 2.01% | 2.01% | 103.00 | 6.68% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 2.69% | 2.69% | 104.91 | 7.39% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.04% | 2.04% | 106.45 | 7.36% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.97% | 1.97% | 104.71 | 6.95% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.44% | 2.44% | 103.90 | 6.88% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 1.97% | 1.97% | 103.45 | 6.65% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.98% | 1.98% | 104.61 | 6.82% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.22% | 2.22% | 102.86 | 6.74% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.04% | 2.04% | 103.71 | 6.68% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.44% | 2.44% | 103.90 | 7.06% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.64% | 2.64% | 104.50 | 7.12% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 1.97% | 1.97% | 104.60 | 6.72% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 2.38% | 2.38% | 105.76 | 6.96% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.15% | 2.15% | 102.99 | 6.58% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.03% | 2.03% | 103.43 | 6.51% |
| 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% | 4.92% | -0.04% | 94 | 9.04% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.60% | -0.05% | 108.391 | 8.73% |