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Oct 11, 2018
We initiate our coverage of Plenary Bond Co’s 6.50% notes due 2024 with a Market Perform recommendation. The outlook is stable.
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Oct 11, 2018
NEXTDC has agreed terms to acquire the remaining 70.8% of the Asia Pacific Data Centre Trust (APDC). APDC owns three datacentres located in Perth, Sydney, and Melbourne which NEXTDC rents from it. These were the first three datacentres developed by NEXTDC and were spun out of the Group in order to recycle capital. NEXTDC has been attempting to take back control of the assets for over a year.
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Oct 11, 2018
Our independent credit research provider, CreditSights, has revised its
sector recommendations for Car Rental to ‘Selective Risk Taking’.
There is no change to the credit and indicatively yielding over
7.90%pa, the Hertz 2022 is an appealing short dated US dollar offering.
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Oct 10, 2018
Centuria Capital No. 2 Fund (Centuria) is launching a new transaction, seeking to raise up to AUD100m of senior secured notes maturing in April 2023. The transaction will include one floating rate tranche and one fixed rate tranche, both offering a yield in the region of 6.50%.
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Oct 08, 2018
The DirectBond filter lists have been updated for September 2018.
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Oct 05, 2018
Port of Melbourne's inaugural AUD issuance is expected to be in demand due to its investment grade rating as well as the stability and predictability of its cash flows. However, we do not believe it offers value at the indicative pricing of below 4.00%.
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Oct 05, 2018
The French Bank, BNP Paribas, is to issue an Australian dollar Tier 2 style bond. The investment grade 15 year bond callable after 10 years is expected to price around 5.00$ yield which equates to a margin of BBSW +2.20%.
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Oct 05, 2018
Nufarm's April 2026 bond is the recent inclusion to the DirectBond list and available to wholesale investors. The US dollar bond trades at a discount to its issue price, providing an appealing entry point for investors who are comfortable with the investment grade risk.
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Oct 05, 2018
Heathrow Airport's inaugural AUD issuance is expected to receive strong investor demand due to its investment grade rating and stable and predictable cash flow.s The bond offers reasonable value with trading margin of circa BBSW+1.40% and fits our theme of extending duration in Australian dollar denominated investment grade bonds. Nevertheless, we see better relative value elsewhere with these bonds also carrying additional interest rate risk.
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Oct 05, 2018
Harvey 2018-1 is Credit Union Australia’s (CUA) first transaction for
2018. It is a prime RMBS supported by a good quality pool of collateral
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Oct 05, 2018
Adani Abbot Point Terminal (AAPT) is the financing subsidiary for the
companies holding the lease on the Abbot Point Coal Terminal.
AAPT’s 4.45% Dec 2022 USD bond looks attractive as a 4 year
investment with an indicative yield above 7.25%.
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Oct 03, 2018
Eric Insurance released its FY18 results
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Sep 28, 2018
Inflation linked securities should be in every fixed income portfolio. These securities protect investors against inflationary pressures while maintaining a steadily growing income flow.
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Sep 28, 2018
Australian corporate predominantly issue fixed rate bonds leading to a limited offering in floating rate notes (FRN) particularly in investment grade.
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Sep 28, 2018
Nufarm released its FY18 results and concurrently announced a AUD303m equity raising.
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Sep 26, 2018
This transaction is CBA's first public RMBS term out deal for 2018 and the biggest RMBS transaction fo the year.
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Sep 24, 2018
Axsesstoday has extended its share suspension and provided further details on its current review, including certain senior bank debt term renegotiations linked to technical breaches.
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Sep 21, 2018
Adani Abbot Point Terminal (AAPT or the Issuer) is the financing subsidiary of the group of companies holding the 99-year long term lease on the Abbot Point Coal Terminal (acquired from the Queensland Government in June 2011).
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Sep 21, 2018
Sydney Airport Finance Company Pty Limited (SAFC) is a wholly owned financing subsidiary of Sydney Airport Corporation (SACL). SACL is the lessee and operator of Sydney’s Kingsford Smith Airport (KSA), Australia’s largest airport, under a long term lease granted by the Commonwealth Government.
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Sep 21, 2018
Adani Abbot Point Terminal (AAPT or the Issuer) is the financing subsidiary of the group of companies holding the 99-year long term lease on the Abbot Point Coal Terminal (acquired from the Queensland Government in June 2011).
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