Tuesday 04 October 2016 by FIIG Research Company updates

Company updates — General Property Trust and Navient Corporation

Two new Navient Corporation bonds plus one General Property Trust (GPT) bond added to our DirectBonds list

GPT RE bonds added to the DirectBond list for wholesale investors

The 3.657% fixed rate bond matures in 24 August 2026 and is available in minimum of AUD10,000 parcels.

Brief company overview

Listed on the Australian Securities Exchange since 1971, the General Property Trust Group is one of Australia's largest diversified listed property groups. GPT is the owner and manager of a portfolio of Australian office, logistics, business parks and prime shopping centre assets. The Group has a large investor base, with more than 36,000 investors. Further, it is one of the top 50 stocks on the Australian Stock Exchange by market capitalisation and has $10bn of assets under management.

The GPT RE Limited 2026 factsheet can be read here.External link - opens in a new window

Two new Navient Corporation USD DirectBonds – August 2033 and September 2023 Senior Unsecured bonds

Navient is the US’ leading loan management, servicing and asset recovery company. Servicing more than USD300bn in education loans, Navient supports the educational and economic achievements of more than 12 million customers. A growing number of public and private sector clients rely on Navient for solutions to meet their financial goals. Navient began trading on NASDAQ as an independent company of 1 May 2014.

On 28 September 2016, two Navient Corporation bonds were added to our DirectBond list. The bonds are both US dollar denominated maturing in 2023 and 2033, with yields to worst (YTW) of 6.79%* and 7.32%* respectively. The bonds are available to wholesale investors only, with minimum investments of USD10,000 and denominations of USD1,000 thereafter.

For more information please see the Navient Corporation 2023 bond factsheetExternal link - opens in a new window or 2033 bond factsheet.External link - opens in a new window

Pricing is accurate as at 4 October 2016 but subject to change.

*The yield to worst (YTW) is the lowest yield an investor can expect when investing in a callable bond. More information on yield to worst can be found here.External link - opens in a new window