Company updates

Newcrest sees lower profit in 1H16, but improved credit metrics

Newcrest 1H16 results were down on the prior period reflecting a 10% lower gold price. From a credit perspective, it was positive to see an improvement in free cash flow and that the company was still able to deleverage despite the lower gold price during the first half. We expect to see an improved 2H16 performance given the gold price is now rallying

Company updates

Company updates – New BHP forex bonds available, BlueScope, Newcrest, and Qantas report

We have now added four tranches of the massive BHP subordinated bond issue to the DirectBonds list. Minimum sized parcels vary and currencies include: USD, GBP and EUR. The relevant company news this week includes: BlueScope released a 1H16 trading update and an acquisition announcement, Newcrest reported a moderately weak September quarter and Qantas continues to report strong growth in the month of September

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