Summary:
On 22nd May 2025, ASX-listed hybrids saw a mixed performance, with a slight bias toward price declines. Sixteen securities posted gains, led by Westpac (WBCPH) and Challenger (CGFPC), both rising by 0.27%. In contrast, 20 securities declined in value, with Bendigo Bank (BENPH) experiencing the largest drop at 0.39%, followed by CBA (CBAPJ) and ANZ (AN3PI), each down 0.31%. Despite the downward pressure, the average trading margin remained healthy at approximately 2.97%, while the average running yield stood at a strong 6.94%.
Judo Capital (JDOPA) continued to offer the highest running yield at 9.50%, supported by a 6.50% margin including credits and a trading margin of 3.81%. Latitude (LFSPA) also stood out with a 9.12% yield, driven by its discounted price of 96.56 and an elevated trading margin of 10.17%.
ASX-Listed Hybrids.csv
COMPANY CODE HYBRID TYPE MATURITY/
CALL
DATEMARGIN
INCL. CREDITSTRADING
MARGINDAY
CHANGEDAY
CLOSERUNNING
YIELD**Westpac WBCPH Capital Notes 5 22/09/2025 3.20% 9.79% 0.00% 101.2 7.07% AMP Group AMPPB Capital Notes 2 16/12/2025 4.50% 2.75% 0.00% 102.55 8.14% Macquarie Bank MBLPC Capital Notes 2 22/12/2025 4.70% 2.25% 0.00% 102.8 8.31% Challenger CGFPC Capital Notes 3 25/05/2026 4.60% 4.79% 0.00% 102.16 8.33% Nat Aust Bank NABPF Capital Notes 3 17/06/2026 4.00% 2.03% 0.00% 103.65 7.57% Suncorp SUNPH Capital Notes 3 17/06/2026 3.00% 2.21% 0.00% 102.25 6.67% Macquarie Group MQGPD Capital Notes 4 10/09/2026 4.15% 2.52% 0.00% 103.6 7.72% CBA CBAPJ PERLS 13 20/10/2026 2.75% 1.88% 0.00% 102.571 6.40% Latitude LFSPA Capital Notes 27/10/2026 4.75% 10.10% 0.00% 96.7 9.04% Westpac WBCPJ Capital Notes 7 22/03/2027 3.40% 3.23% 0.00% 103.8 7.10% CBA CBAPI PERLS 12 20/04/2027 3.00% 1.92% 0.00% 103.39 6.60% Bank of Queensland BOQPF Capital Notes 2 14/05/2027 3.80% 3.47% 0.00% 103.12 7.47% Bendigo Bank BENPH Capital Notes 15/06/2027 3.80% 2.37% 0.00% 104.35 7.32% Macquarie Group MQGPE Capital Notes 5 20/09/2027 2.90% 2.34% 0.00% 102.5 6.54% Nat Aust Bank NABPH Capital Notes 5 17/12/2027 3.50% 2.18% 0.00% 104.63 7.01% ANZ Bank AN3PI Capital Notes 6 20/03/2028 3.00% 1.88% 0.00% 103.95 6.54% CBA CBAPL PERLS 15 15/06/2028 2.85% 2.30% 0.00% 103 6.47% Suncorp SUNPI Capital Notes 4 17/06/2028 2.90% 2.30% 0.00% 103.15 6.51% Westpac WBCPL Capital Notes 9 22/09/2028 3.40% 2.94% 0.00% 104.9 7.02% Macquarie Bank MBLPD Capital Notes 3 7/12/2028 2.90% 2.78% 0.00% 101.96 6.59% Bank of Queensland BOQPG Capital Notes 3 15/12/2028 3.40% 2.60% 0.00% 104.1 6.94% Judo Capital JDOPA Capital Notes 16/02/2029 6.50% 3.87% 0.00% 111.15 9.46% ANZ Bank AN3PJ Capital Notes 7 20/03/2029 2.70% 2.23% 0.00% 102.7 6.32% Challenger CGFPD Capital Notes 4 25/05/2029 3.60% 2.97% 0.00% 104.32 7.16% CBA CBAPK PERLS 14 15/06/2029 2.75% 2.22% 0.00% 103.37 6.35% Insurance Australia IAGPE Capital Notes 2 15/06/2029 3.50% 2.95% 0.00% 105.05 7.08% Macquarie Group MQGPF Capital Notes 6 12/09/2029 3.70% 2.41% 0.00% 106.13 7.09% Nat Aust Bank NABPI Capital Notes 6 17/09/2029 3.15% 2.32% 0.00% 104.571 6.67% Westpac WBCPK Capital Notes 8 21/09/2029 2.90% 2.85% 0.00% 103.68 6.59% ANZ Bank AN3PK Capital Notes 8 20/03/2030 2.75% 2.23% 0.00% 103.25 6.33% CBA CBAPM PERLS 16 17/06/2030 3.00% 2.28% 0.00% 104.55 6.52% Suncorp SUNPJ Capital Notes 5 17/06/2030 2.80% 2.43% 0.00% 103.12 6.41% Nat Aust Bank NABPJ Capital Notes 7 17/09/2030 2.80% 2.27% 0.00% 103.85 6.37% Bendigo Bank BENPI Capital Notes 2 13/12/2030 3.20% 2.68% 0.00% 104.06 6.75% Insurance Australia IAGPF Capital Notes 3 15/12/2030 3.20% 2.99% 0.00% 104 6.84% ANZ Bank AN3PL Capital Notes 9 20/03/2031 2.90% 2.24% 0.00% 104.24 6.42% Westpac WBCPM Capital Notes 10 22/09/2031 3.10% 2.65% 0.00% 105.72 6.66% Macquarie Group MQGPG Capital Notes 7 15/12/2031 2.65% 2.42% 0.00% 102.66 6.28% Nat Aust Bank NABPK Capital Notes 8 17/03/2032 2.60% 2.09% 0.00% 104.2 6.15% ASX-Listed Hybrids (Non-standard)
COMPANY CODE BOND TYPE CALL DATE ISSUE MARGIN (inc frank) TRADING MARGIN ?DAY CLOSING PRICE RUNNING YIELD Nufarm NFNG Step Up Perpetual 3.90% 5.39% 0.00% 85 9.12% Ramsay Health Care RHCPA Preference Share Perpetual 4.85% 4.44% 0.00% 106.3 8.17%
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