Progress 2020-1 Trust Redeems A$920M Notes, Suspends and Delists on ASX

Redemption and Suspension

Progress 2020-1 Trust has officially closed the chapter on its A$920 million Class A Floating Rate Notes, with the redemption completed on 21 November 2025. Following this, the notes were suspended from official quotation on the Australian Securities Exchange (ASX) as of 10 December 2025, in line with standard regulatory procedures.

Removal from Official List

At the Trust’s request, the notes were removed from the ASX Official List effective from the close of trading on 11 December 2025. This step formally signals the end of the notes’ presence on the exchange and reflects the Trust’s intention to wind down this particular debt instrument.

Implications for Investors

For investors, the redemption and subsequent delisting mean that the securities are no longer tradable on the ASX. While this is a routine process following redemption, it underscores the importance of monitoring maturity and redemption dates for fixed income products. The absence of further commentary from the Trust leaves questions about any ongoing or future financial instruments that might replace or succeed these notes.

Context and Market Impact

The redemption of a large-value note like this one is a significant event in the debt securities market, reflecting both the Trust’s ability to meet its obligations and the lifecycle completion of this financing vehicle. It also slightly reduces the volume of debt securities available on the ASX, which could have minor effects on market liquidity in this segment.

Looking Ahead

While the redemption and delisting are clear milestones, the market will be watching for any announcements regarding the Trust’s future capital strategies or new debt issuances. Investors and analysts alike will be keen to understand how the Trust plans to navigate its funding needs going forward.