Listed Fixed Interest Securities

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There are four types of fixed interest security listed on the ASX. Click on a heading for a complete listing of securities in that category.

CORPORATE BONDS A loan made to a company for a fixed period of time at a fixed rate of interest. It is not secured by a charge over the company's assets.

FLOATING RATE NOTES An interest rate security that pays interest at a variable rate that is set periodically in relation to an underlying reference rate.

CONVERTIBLE NOTES A loan made to a company at a fixed rate of interest with the right to be either redeemed (i.e. repaid by the company) for cash or converted into ordinary shares at a predetermined date or within a certain period.

HYBRID DEBT SECURITIES Hybrid Debt Securities are products that may have both equity and debt characteristics during their life, although typically they begin their life with predominantly fixed interest characteristics. They generally pay a fixed dividend for a set period of time and then convert into the ordinary shares at a date or dates in the future.

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