New Issue: IAG Capital Notes (Prospective ASX Code: IAGPD)
On the 21st of November 2016 Insurance Australia Group Limited (IAG) announced a new transaction (click here for announcement), IAG Capital Notes (Prospective ASX Code "IAGPD"). The purpose of this transaction is to provide regulatory capital for the group but more specifically it will be treated as Additional Tier 1 (AT1) capital for regulatory purposes. These securities are structured as perpetual, [...]
The Changing Investment Research Landscape
Who should pay for research use when making investment decisions? For a number of years market stakeholders have debated “unbundling" brokerage and research fees stating it promotes competition and transparency. Typically, in Australia, investors pay a flat percentage rate to trade and receive research (and, for professionals, access to company executives via meetings). In a world where the cost of [...]
Tabcorp Update
Tabcorp posted broadly stable results for the full year ended 30th of June 2016. Revenue and underlying EBITDA both showed slight improvements of 1.5% while underlying net profit increased by 8.5% due to lower interest and depreciation costs. These results exclude significant items relating to establishment of the group’s new online UK wagering business Sun Bets, AUSTRAC Civil Proceedings and [...]
Suncorp Group Update
Suncorp Group reported Full Year 2016 (FY16) Net Profit after Tax (NPAT) of $1.04 billion, down 8.4% on FY15, slightly below market expectations. Results across the business lines was mixed with Suncorp Life (Life) and the Bank reporting a lift in NPAT (by 13.6% and 11.0% respectively) while General Insurance (GI) NPAT was down by -17.5%. The operating expenses, including the one-off [...]
BondAdviser Ratesheet as at 4 August 2016
Click here to access the BondAdviser Ratesheet as at 4 August 2016
BondAdviser Ratesheet as at 3 August 2016
Click here to access the BondAdviser Ratesheet as at 3 August 2016