On 8 August 2019, AMP released its 1H19 results. At the same time, it provided details of its new strategy, as well launching a fully-underwritten capital raising. It also announced the sale of its life insurance operations was to proceed on new terms. Although the overarching strategy is complex and execution risk is high, we believe the announcements yesterday are overall positive for the outlook for AMP’s continuing operations.

Torrens 2019-1 Class C Notes Factsheet

The Solactive FIIG Australian High Yield and Non-Rated Bond TR Index is a new index that allows investors to assess performance of the AUD high yield (HY) bond market.

On 7 August 2019, gold mining company, IAMGOLD released its second quarter results. Revenue was down 11% on the corresponding prior period in 2018 due primarily to lower sales volumes. As at 30 June 2019, IAMGOLD continues to remain net debt free.

On 6 August 2019, Oasis Petroleum reported solid quarterly results for the period ended 30 June 2019.

Pioneer Credit Limited (Pioneer) is an ASX–listed financial services provider (ASX: PNC) with 180,000 customers across Australia and New Zealand. Pioneer specialises in acquiring and servicing unsecured retail debt portfolios (Purchased Debt Portfolios or PDPs), primarily from major banks and some regional banks.

On 31 July 2019, Mackay Sugar announced that the proposed acquisition of a 70% ownership stake in the company by Nordzucker had been completed.

New DirectBond - Oasis Petroleum

2019 year to date (YTD) performance of most bond and stock markets has been strong. So it is no surprise to note that US high yield bonds have had one of the best returns since 1987.

The August 2019 update to our DirectBond List including new additions and our current Trading Restrictions list.

On 30 July 2019, The Geo Group Inc. (GEO, Company) announced 2Q19 results. Results were relatively strong with growth in revenues, net income and funds from operations (FFO) on the prior comparative period (pcp). The Company reiterated its FY2019 guidance despite political headwinds and several financial institutions withdraw funding for for-profit incarceration and detention facilities.

On 29 July 2019, Mackay Sugar's shareholders overwhelmingly voted in favour of the proposed transaction that will see Nordzucker inject up to AUD120m in return to a 70% ownership stake in the company.

On 24 July 2019, Zip Co released its 4Q19 quarterly update, with strong positive momentum across the board.

On 25 July 2019, S&P Global Ratings downgraded Genworth Financial Mortgage Insurance, citing he structural decline in the demand for lenders’ mortgage insurance.

Ei Group plc announced that it had reached an agreement with Stonegate for the acquisition of the Ei group. While the takeover remains subject to a number of conditions, the announcement has driven the price on the notes closer to par, resulting in the notes trading about GBP5 lower than prior to the announcement. We would expect the price to gradually move toward GBP100 as the takeover becomes more certain.

Australia and New Zealand Banking Group (ANZ) is one of the four major banks in Australia and the largest banking group in New Zealand and the Pacific.

The notes were issued by 20th Super Pace Nominees Pty Ltd ATF Byrns Smith Unit Trust (trading as SCT Logistics). SCT provides a full suite of vertically integrated, national logistics services, at the core of which is Australia’s most modern rail freight operation and national terminal footprint. The business was established in 1974 as a rail line haul service by Peter Smith, and ownership of the business has remained with the Smith family.

The notes were issued by 20th Super Pace Nominees Pty Ltd ATF Byrns Smith Unit Trust (trading as SCT Logistics). SCT provides a full suite of vertically integrated, national logistics services, at the core of which is Australia’s most modern rail freight operation and national terminal footprint. The business was established in 1974 as a rail line haul service by Peter Smith, and ownership of the business has remained with the Smith family.