Summary –
This week’s snapshot of ASX-listed floating rate notes reveals a notable shift in trading margins, with several instruments showing upward movement. The standout performer is Australian Unity’s Series E note (AYUHE), which offers a margin of approximately 3.50% above BBSW and a call date around June 2028. This places it firmly in the higher-yielding category among mid-to-long term maturities.
Centuria Capital’s note (C2FHA) leads the pack with a trading margin exceeding 6%, accompanied by a strong running yield—suggesting either heightened investor demand or a perceived risk premium. Meanwhile, Australian Unity’s Series D note (AYUHD), maturing in late 2026, shows a moderate margin uplift and remains attractive for those seeking shorter duration exposure.
Across the board, the weekly increase in margins may reflect broader market recalibration or a growing appetite for credit risk. For income-focused investors, AYUHE presents a compelling long-term option with steady yield, while C2FHA may suit tactical strategies targeting near-term returns.
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% | 6.09% | 3.40% | 102.2 | 7.91% |
| Australian Unity | AYUHD | Bond Series D | 15-Dec-26 | 2.15% | 4.17% | 1.66% | 100.25 | 5.87% |
| Australian Unity | AYUHE | Bond Series E | 15-Dec-28 | 2.50% | 3.41% | 1.14% | 100.45 | 6.22% |
For a full breakdown of trading activity, margin changes, and performance insights, visit the