Ann: PaperlinX Step-Up Preference Security Distri, page-3

re: Ann: PaperlinX Step-Up Preference Securit... Hi Nandina,
Answer to that is maybe yes.
If you look at the prospectus for this, the divi stopper prevents payments for the ords until the hybrids are paid, including from memory ,12 months arrears.
If management is planning not to pay divis on the ords for a couple of years, then no imperative to pay hybrids.
Possible that when all their sales settle, they may resume.
Hope so.
Real risk for these is if they go broke.
hold hybrids only.