Summary-
A few key points to be noted for ASX-listed hybrids for the March 10th market close.
- Yield Trends: Judo Capital’s JDOPA led with a strong running yield of 9.43%, while other hybrids offered attractive yields.
- Minimal Movement in Prices: Most hybrid securities saw little price movement, with ANZ’s AN3PH dropping significantly by 40.84%.
- Stability in Major Banks: Major banks like Westpac (WBCPH) and NABPF saw only slight changes, indicating market stability.
- Higher Yields for Longer-Dated Notes: Long-term notes such as Latitude’s LFSPA (9.02%) continued to offer higher yields compared to shorter-term securities.
On March 10th, the ASX-listed hybrids (non- standard) such as Nufarm (NFNG) closed flat at $94.48, maintaining its running yield of 8.82%. Meanwhile, Ramsay Health Care (RHCPA) saw a slight dip of 0.02%, closing at $106.45 with a running yield of 8.73%. Both stocks showed minimal movement, reflecting a stable market sentiment, with Nufarm holding steady and Ramsay Health Care experiencing a marginal decline.
| COMPANY | CODE | HYBRID TYPE | MATURITY/ CALL DATE | MARGIN INCL. CREDITS | TRADING MARGIN | DAY CHANGE | DAY CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| ANZ Bank | AN3PH | Capital Notes 5 | 20-Mar-25 | 3.80% | -36.04% | -40.84% | 101.23 | 7.81% |
| CBA | CBAPG | PERLS 10 | 15-Apr-25 | 3.40% | 3.76% | -18.02% | 99.83 | 7.52% |
| Westpac | WBCPH | Capital Notes 5 | 22-Sep-25 | 3.20% | 1.83% | -0.36% | 102.43 | 7.26% |
| AMP Group | AMPPB | Capital Notes 2 | 16-Dec-25 | 4.50% | 2.21% | -2.19% | 101.66 | 8.47% |
| Macquarie Bank | MBLPC | Capital Notes 2 | 22-Dec-25 | 4.70% | 2.55% | -2.86% | 101.51 | 8.67% |
| Challenger | CGFPC | Capital Notes 3 | 25-May-26 | 4.60% | 2.69% | 0.03% | 102.66 | 8.52% |
| Nat Aust Bank | NABPF | Capital Notes 3 | 17-Jun-26 | 4.00% | 2.02% | -1.56% | 102.36 | 7.92% |
| Suncorp | SUNPH | Capital Notes 3 | 17-Jun-26 | 3.00% | 2.12% | 0.08% | 101.037 | 7.04% |
| Macquarie Group | MQGPD | Capital Notes 4 | 10-Sep-26 | 4.15% | 1.90% | -0.18% | 103.32 | 8.00% |
| CBA | CBAPJ | PERLS 13 | 20-Oct-26 | 2.75% | 1.87% | -1.04% | 101.32 | 6.77% |
| Latitude | LFSPA | Capital Notes | 27-Oct-26 | 4.75% | 6.12% | 0.55% | 99.4 | 9.02% |
| Westpac | WBCPJ | Capital Notes 7 | 22-Mar-27 | 3.40% | 1.71% | -0.03% | 104.98 | 7.28% |
| CBA | CBAPI | PERLS 12 | 20-Apr-27 | 3.00% | 1.86% | -0.92% | 102.22 | 6.96% |
| Bank of Queensland | BOQPF | Capital Notes 2 | 14-May-27 | 3.80% | 2.28% | 0.09% | 103.69 | 7.68% |
| Bendigo Bank | BENPH | Capital Notes | 15-Jun-27 | 3.80% | 2.14% | -0.23% | 103.4 | 7.65% |
| Macquarie Group | MQGPE | Capital Notes 5 | 20-Sep-27 | 2.90% | 2.26% | 0.08% | 101.7 | 6.91% |
| Nat Aust Bank | NABPH | Capital Notes 5 | 17-Dec-27 | 3.50% | 1.96% | -0.77% | 103.8 | 7.33% |
| ANZ Bank | AN3PI | Capital Notes 6 | 20-Mar-28 | 3.00% | 1.74% | -0.46% | 103.37 | 6.88% |
| CBA | CBAPL | PERLS 15 | 15-Jun-28 | 2.85% | 1.88% | -0.62% | 102.82 | 6.77% |
| Suncorp | SUNPI | Capital Notes 4 | 17-Jun-28 | 2.90% | 2.28% | -0.07% | 101.84 | 6.88% |
| Westpac | WBCPL | Capital Notes 9 | 22-Sep-28 | 3.40% | 2.03% | 0.00% | 106 | 7.21% |
| Macquarie Bank | MBLPD | Capital Notes 3 | 7-Dec-28 | 2.90% | 2.14% | 0.03% | 102.71 | 6.84% |
| Bank of Queensland | BOQPG | Capital Notes 3 | 15-Dec-28 | 3.40% | 2.49% | 0.02% | 102.99 | 7.29% |
| Judo Capital | JDOPA | Capital Notes | 16-Feb-29 | 6.50% | 2.57% | 0.84% | 113.25 | 9.43% |
| ANZ Bank | AN3PJ | Capital Notes 7 | 20-Mar-29 | 2.70% | 1.99% | -0.35% | 102.48 | 6.65% |
| Challenger | CGFPD | Capital Notes 4 | 25-May-29 | 3.60% | 2.63% | 0.06% | 103.9 | 7.45% |
| CBA | CBAPK | PERLS 14 | 15-Jun-29 | 2.75% | 1.84% | -0.49% | 103.3 | 6.64% |
| IAG | IAGPE | Capital Notes 2 | 15-Jun-29 | 3.50% | 3.16% | 0.01% | 103.1 | 7.50% |
| Macquarie Group | MQGPF | Capital Notes 6 | 12-Sep-29 | 3.70% | 2.25% | 0.03% | 105.45 | 7.41% |
| Nat Aust Bank | NABPI | Capital Notes 6 | 17-Sep-29 | 3.15% | 1.92% | -0.49% | 104.6 | 6.94% |
| Westpac | WBCPK | Capital Notes 8 | 21-Sep-29 | 2.90% | 2.00% | -0.02% | 105.19 | 6.78% |
| ANZ Bank | AN3PK | Capital Notes 8 | 20-Mar-30 | 2.75% | 2.05% | -0.41% | 102.93 | 6.66% |
| CBA | CBAPM | PERLS 16 | 17-Jun-30 | 3.00% | 1.96% | -0.41% | 104.44 | 6.81% |
| Suncorp | SUNPJ | Capital Notes 5 | 17-Jun-30 | 2.80% | 2.35% | -0.02% | 102.09 | 6.77% |
| Nat Aust Bank | NABPJ | Capital Notes 7 | 17-Sep-30 | 2.80% | 2.15% | -0.40% | 102.981 | 6.71% |
| Bendigo Bank | BENPi | Capital Notes 2 | 13-Dec-30 | 3.20% | 2.52% | -0.03% | 103.29 | 7.08% |
| Insurance Australia | IAGPF | Capital Notes 3 | 15-Dec-30 | 3.20% | 2.89% | -0.08% | 103.2 | 7.19% |
| ANZ Bank | AN3PL | Capital Notes 9 | 20-Mar-31 | 2.90% | 1.99% | -0.26% | 104.31 | 6.72% |
| Westpac | WBCPM | Capital Notes 10 | 22-Sep-31 | 3.10% | 1.94% | 0.00% | 107.54 | 6.82% |
| Macquarie Group | MQGPG | Capital Notes 7 | 15-Dec-31 | 2.65% | 2.33% | -0.01% | 101.9 | 6.64% |
| Nat Aust Bank | NABPK | Capital Notes 8 | 17-Mar-32 | 2.60% | 2.18% | -0.27% | 102.43 | 6.55% |
| 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% | 4.70% | 0.00% | 94.48 | 8.82% |
| Ramsay Health Care | RHCPA | Preference Share | Perpetual | 4.85% | 4.61% | -0.02% | 106.45 | 8.73% |