A$920 Million Class A Notes Redeemed and Suspended on ASX

Redemption Triggers Suspension of Notes

The Progress 2021-1 Trust’s A$920 million Class A Floating Rate Notes (ASX:POBHA) ceased trading on the Australian Securities Exchange at the close of business on 1 September 2026. This suspension follows the full redemption of the notes on 24 August, effectively ending their lifecycle.

ASX Listing Rule 17.2 mandates suspension of securities once they have been redeemed, which is standard procedure to prevent trading in instruments no longer outstanding. For investors, this marks the conclusion of their exposure to this tranche of debt securities.

Trust Removal from Official List

Following the notes’ suspension, the Progress 2021-1 Trust will be formally removed from the ASX Official List at the close of trading on 2 September 2026. This delisting occurs at the Trust’s request under Listing Rule 17.11, signaling the end of its status as a listed entity on the exchange.

Removal from the official list means the Trust will no longer be subject to continuous disclosure obligations or public market scrutiny associated with ASX listing. For market participants, this adjustment requires updates to databases, portfolios, and indices that previously included the Trust’s securities.

Implications for Investors and Market Data

While the redemption and subsequent suspension are routine events in the lifecycle of debt securities, the size of the issue; A$920 million; means the change is notable for fixed income investors tracking the Trust’s notes. Holders would have received their redemption proceeds on 24 August, and the suspension now prevents any further trading activity.

Market infrastructure and data providers will remove the notes from active trading feeds, and investors should ensure their records reflect the Trust’s delisting to avoid confusion or mispricing. The move also underscores the importance of monitoring maturity and redemption dates in debt securities to manage portfolio risk effectively.