The transaction is a single-borrower secured loan commercial mortgage-backed security (CMBS) that is secured by a portfolio of 85 pubs leased and operated by Australian Leisure and Hospitality Group Pty Ltd. (ALH).

Australian Gas Networks Limited (AGN) owns gas distribution networks in Victoria, South Australia, Queensland, New South Wales and the Northern Territory. The networks transport gas to domestic, commercial and industrial consumers via retailers, with Australia’s three largest energy retailers taking over 90% of the gas volumes.

Unsecured 2031s, secured 2031s and secured 2035s ILB Factsheets.

Praeco Pty Limited (Praeco) is the special purpose vehicle which was contracted under a public-private partnership (PPP) arrangement to build and maintain the Headquarters Joint Operations Command (HQJOC) for the Australian Department of Defence just outside of Canberra. Praeco is owned by IFM Infrastructure Funds (‘IFM’), an experienced Australian infrastructure investor. IFM has interests in other PPP assets, including Civic Nexus.

Suncorp 3mBBSW+2.15% December 2028 Subordinated Tier 2 Notes Factsheet for wholesale clients

Transocean Guardian Ltd USD 5.875% January 2024 Secured Notes Factsheet for wholesale clients

Transocean Inc USD 9.00% July 2023 Senior Unsecured Factsheet for wholesale clients

VA Holdings 2019, 2021, 2023 Factsheets.

Factsheet for Zenith Energy Ltd 7.55% Oct 2025 Factsheet. ISIN - AUD3CB0255271.

Stockwell reported its preliminary results for the financial year ending 30 June 2018. We reiterate our Outperform recommendation on W A Stockwell's 7.25% notes due 2021. The credit outlook is stable.

The new AT&T AUD issuance across various maturity buckets is expected to be well received by the market. The 4.60% (based on indicative price talk) 10 year maturity bond offers standout value when compared to the AUD telecom yield curve.

Despite the recent bond price rally, the Barminco 6.625% 2022 bond, which offers an indicative yield above 6%pa is an attractive investment at current levels. The credit quality of the issuer is expected to significantly improve assuming the merger with Ausdrill completes, with ratings expected to be upgraded by up to three notches.

Barminco announced that it had renewed for five years one of its largest contracts.

Impact Group reported its preliminary results for the financial year ending 30 June 2018, with key credit metrics broadly in line with expectations.

This document has been prepared by FIIG Investment Strategy Group. Opinions expressed may differ from those expressed by FIIG Credit Research.

Inflation linked securities should be in every fixed income portfolio. These securities protect investors against inflationary pressures while maintaining a steadily growing income flow. Below is an explanation of how these bonds work and the investment options available to FIIG clients.