It is very weird capital management from a company that has been good at this in the past. If a broker makes an unsolicited approach to you it means you are offering the debt on terms that are too favourable to the investor and unfavourable to the company. Just because you are approached doesnt mean you have to issue.
I expect there will be no such offer for ather investors? Disgraceful.
We should make our own unsolicited approach on the same terms and see what response we get.
AZZ Price at posting:
45.0¢ Sentiment: Hold Disclosure: Held