Friday 25th September 2020
|Text too small?|
Dear Sharechat readers
It would appear the new bond issues market is again well underway, with a number of bond issues hitting the market in August and September. We at Equity Investment Advisers Limited are anticipating more of these new issues over the next few months. Unfortunately the coupon rates will likely be trending downward especially, after the election when we expect general interest rates to continue to trend downward.
It is interesting that the recent Wellington Airport bonds (WIA070) rated BB that were issued at a coupon rate of 2.5% traded today at 1.98% and some supply is on offer at 1.98% and 1.95% on the exchange today.
The recent Summerset bonds (SUM020 unrated) issued last week at a coupon rate of 2.30% have traded as low 2.10% and is today on offer at 2.12% and 1.90%.
The new Auckland Council Bonds (AKC130 AA rated) issued at a coupon rate 2.95% will likely trend down sharply down upon listing and could be as low as 2% or less over the next 6 to 9 months.
So we anticipate more corporates coming to the market with bonds to capitalise on the sliding interest rates.
Should you be looking to buy bonds from new bond issues over the next few months, please contact Tony or Jason at Equity Investment Advisers Limited and we are likely to be able to assist you secure supply.
If you wish to discuss listed bonds, please call Tony on 09 304 0229 or email email@example.com or firstname.lastname@example.org
No comments yet
Synlait Milk Limited published its Annual Report
Infratil announces offer to acquire stake in Australian diagnostic imaging business, Qscan
Kathmandu Holdings Limited announces Annual Report 2020
Genesis Energy announced its FY21 Q1 Performance Report
Vector announces its operational performance for the 3 months
Abano Scheme Meeting Materials
Westpac and Afterpay announce partnership
NWF agrees a new Variable Volume Fixed Price Agreement
Takeovers Panel states no objection to Metlifecare scheme
Sichuan Province Trial Confirms Truscreen Technology