Hi NM, I may be wrong but I don't think the loan notes are convertible. All I can see from the 31 August 2020 announcement (MLC purchase date) is that the loan notes are repayable after 5 years with an equity-linked component, no where in that announcement says it is convertible though. NAB's early redemption indicates to me that they don't believe any further offer price from the three suitors would be significantly higher than the $4.60 per share already offered.
IFL Price at posting:
$4.06 Sentiment: None Disclosure: Held
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