Earlier in the year Virgin Australia tapped strategic shareholders for a $425 million loan facility prompting a review of its capital structure to enhance cashflow and profitability. The last time Virgin went to these shareholders was in late 2013 ($90 million) when the aviation industry was facing poor consumer sentiment and high oil prices. Qantas was in an even worse position [...]
Click here to access the BondAdviser Ratesheet as at 22 June 2016
Click here to access the BondAdviser Ratesheet as at 21 June 2016
Click here to access the BondAdviser Ratesheet as at 20 June 2016
The March 2016 quarter (1Q16) major bank reporting season kicked off last Monday with Westpac and ended with the Commonwealth Bank of Australia this morning. Across the sector profit growth was mixed with both ANZ & the NAB’s headline Statutory Net Profit/Loss after Tax (NPAT) being dragged down by various one-off write downs. Westpac was a picture of stability [...]
Rebased Bank Index
CLOSED: Woolworths Increases Loan to A$2b-Equiv. From A$1.2b (Source: Bloomberg) -- The Australian dollar tranches were upsized as 49 banks committed, according to people familiar with the matter, who are not authorized to speak publicly and asked not to be identified. Tranches: (A)A$700m 3Y revolver (B)A$965m 5.5Y revolver (C)$260m 5.5Y term loan Allocations: MLAs: ANZ: (A)A$11m (B)A$14m CBA: (A)A$11m (B)A$14m [...]
Over the past couple of years there has been increased focus on high yield securities as government bonds have fallen to all time lows. A portfolio of high yielding securities therefore requires an understanding of the different types of securities available. Investors have definitely moved up the risk spectrum into high yield bonds and/or hybrids. While we are not suggesting [...]
Click here to access the BondAdviser Ratesheet as at 29 February 2016
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An employee-owned financial services provider focused on the Debt Capital Markets.
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