Thanks - yes, clause 3.1 on page 36
So they have to pay last 12 months of interest if they want to pay ELD dividend. So, yes, the ELDPA has accrued interest payment (you dpn't have to wait). I could only find one step up rate of 2.5% so we have 6.75% divided by 95 = 7.1% fully franked? But the return is higher than that as the interest is accrued and must be paid up front
Ann: Capital Raising Presentation correction-ELD.AX, page-56
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