Centuria Capital No. 2 Fund (Centuria) is a 100% owned subsidiary of Australian ASX listed specialist investment manager, Centuria Capital Group. The issuer holds strategic equity investments in a number of listed and unlisted property investments, including Centuria Industrial REIT (ASX: CIP), Centuria Metropolitan REIT (ASX: CMA) and Propertylink Group (ASX: PLG).

Centuria Capital No. 2 Fund (Centuria) is a 100% owned subsidiary of Australian ASX listed specialist investment manager, Centuria Capital Group. The issuer holds strategic equity investments in a number of listed and unlisted property investments, including Centuria Industrial REIT (ASX: CIP), Centuria Metropolitan REIT (ASX: CMA) and Propertylink Group (ASX: PLG).

BHP Group (formerly known as BHP Billiton, ‘BHP’) is among the world’s largest producers of major commodities, including iron ore, metallurgical coal, copper and uranium, and has substantial interests in conventional and unconventional oil and gas and energy coal.

BHP Group (formerly known as BHP Billiton, ‘BHP’) is among the world’s largest producers of major commodities, including iron ore, metallurgical coal, copper and uranium, and has substantial interests in conventional and unconventional oil and gas and energy coal.

BHP Group (formerly known as BHP Billiton, ‘BHP’) is among the world’s largest producers of major commodities, including iron ore, metallurgical coal, copper and uranium, and has substantial interests in conventional and unconventional oil and gas and energy coal.

Bendigo and Adelaide Bank Ltd (Bendigo) is a regional bank that specialises in retail banking with a focus on rural communities. Bendigo is a top 60 ASX listed company with assets under management of more than AUD71.4bn (30 June 2018).

Bendigo and Adelaide Bank Ltd (Bendigo) is a regional bank that specialises in retail banking with a focus on rural communities. Bendigo is a top 60 ASX listed company with assets under management of more than AUD71.4bn (30 June 2018).

We initiate a recommendation on Maurice Blackburn’s 7.45% subordinated notes due August 2022 of Market Perform. Our credit outlook is Stable.

Since DirectBonding Nufarm’s 2026 USD bond in August, we’ve continued to see attractive and relatively stable pricing, even during recent market volatility. We believe the company has future relevance with increasing global growth and presents an opportunistic buy.

Bendigo and Adelaide Bank Ltd (Bendigo) is a regional bank that specialises in retail banking with a focus on rural communities. Bendigo is a top 60 ASX listed company with assets under management of more than AUD71.4bn (30 June 2018).

Barminco Finance Pty Ltd is the wholly owned finance subsidiary of Barminco Holdings Pty Limited (Barminco). Headquartered in Western Australia, Barminco is a private Australian company operating in the global underground hard rock development and production contract mining industry.

AT&T Inc. is a diversified, global leader in telecommunications, media and entertainment, and technology. It executes in the market under four operating units.

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.

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.

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.

American Axle is a Tier one supplier to the automotive industry. American Axle is headquartered in Detroit and in addition to its locations in the United States (Michigan, Ohio and Indiana) they have offices and facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

American Axle is a Tier one supplier to the automotive industry. American Axle is headquartered in Detroit and in addition to its locations in the United States (Michigan, Ohio and Indiana) they have offices and facilities in Brazil, China, Germany, India, Japan, Luxembourg, Mexico, Poland, Scotland, South Korea, Sweden and Thailand.

The new 10 year, non-call 5 year Tier 2 issuance from BEN is expected to meet strong demand as funds are invested ahead of year end. Its issue margin is wider compared to recent issuance, in line with moves in the sub debt space.

The yield of a fixed rate corporate bond is made up of two components, a base interest rate and a credit spread. Higher yield is generally commensurate with high risk. In this note we explore the components of yield and highlight some bonds that we think are good relative value across the yield spectrum.