Trading margins of ASX-listed notes and bonds mostly increased by small amounts with the exception of some of the short-dated securities and IMF Bentham Notes (ASX IMFHA, -58bps).
Crown Notes (ASX code: CWNHA) were redeemed on 14 September.
The current 3 month BBSW rate is around 1.92%. Add the trading margin from the above chart or from the tables to 1.92% for a gross return per annum in the absence of BBSW rate changes. The gross return may contain imputation credits. BBSW typically is around 15bps (average since 1990) more than the RBA rate.
ASX LISTED FLOATING RATE NOTES
| COMPANY | CODE | BOND TYPE | MATURITY | ISSUE MARGIN | TRADING MARGIN | Δ WEEK | WEEK CLOSE | RUNNING YIELD** |
|---|---|---|---|---|---|---|---|---|
| AGL | AGLHA | Sub Note | 8-Jun-19 | 3.80% | 0.78% | -1.05% | 102.30 | 5.60% |
| AMP | AMPHA | Sub Note II | 18-Dec-18 | 2.65% | 2.11% | 0.10% | 100.10 | 4.57% |
| AxessToday | AXLHA | Bond | 20/07/2023 | 4.90% | 5.28% | 0.03% | 100.00 | 6.89% |
| Australian Unity | AYUHB | Unsub. Bond | 15-Dec-20 | 2.80% | 1.36% | 0.07% | 103.90 | 4.58% |
| Crown | CWNHB | Sub Note | 23-Jul-21 | 4.00% | 2.65% | -0.18% | 103.60 | 5.72% |
| Bentham IMF | IMFHA | Bond | 30-Jun-19 | 4.20% | 2.36% | -0.58% | 102.65 | 6.04% |
| Nat Aust Bank | NABPE | Sub Note T2 | 20-Jun-23 | 2.20% | 1.40% | 0.04% | 103.52 | 3.98% |
| Peet | PPCHB | Bond | 5-Oct-22 | 3.65% | 3.93% | 0.04% | 104.00 | 6.40% |
| Qube Holdings | QUBHA | Sub Note | 5-Oct-23 | 3.90% | 2.34% | 0.06% | 107.85 | 5.46% |
| Suncorp-Metway | SUNPD | Sub NoteI III | 21-Nov-18 | 2.85% | 1.33% | 0.06% | 100.60 | 4.76% |
| Tatts | TTSHA | Snr. Bond | 5-Jul-19 | 3.10% | 0.89% | 0.19% | 102.80 | 4.94% |
| Villa World | VLWHA | Snr. Bond | 21-Apr-22 | 4.75% | 3.71% | 0.07% | 104.40 | 6.46% |
** Clean running yield.
Dealing: contact Michael Saba, Evans & Partners. +61 3 9631 9813