Watford what makes you think they are going to redeem these prefs anytime soon like your % returns indicate. it is a possibility that they leave these prefs as perpetual prefs and not ever redeem them. it seems to me that by having a deeply discounted rights issue they are trying to raise money not pay it out in the short term. the step up rate is 4.8% above bank bill rate yet recent offerings from suncorp and macquarie bank are about 3.2% and 3.5% above bank bill rate and i presume they have much higher credit ratings. it is time you looked at both sides of the story before presenting only the best possibilities. do your own research.
ALZ Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
