Education (advanced)

Education (advanced)

Understanding Covenants

Covenants are a key line of defence for bondholders, especially when investing in unrated or sub investment grade bonds. They act to align the interests of both the issuer and the bondholders and serve as a layer of protection well ahead of any potential payment default. Here we look at the different covenants and how they work

Education (advanced)

BBSW changes complete

This week the ASX began calculating the Bank Bill Swap Rate (BBSW) using real transactions at traded prices. This is an important benchmark used in pricing and revaluing a wide range of financial instruments including mortgages, corporate bonds and derivatives

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