It's not that simple. There's obviously some price at which the equity risk/return balance matches that of the notes.
Otherwise the debt/notes on any solvent company with non-zero equity would always trade at full value, which is ridiculous.
likelihood of getting next coupon payment, page-13
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$1.63 |
Change
-0.045(2.69%) |
Mkt cap ! $439.9M | |||
| Open | High | Low | Value | Volume |
| $1.67 | $1.67 | $1.60 | $506.9K | 312.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 10539 | $1.61 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.63 | 18042 | 2 |
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| AFG (ASX) Chart |