My thoughts on the deal are probably around the counter party financial strength in Abacus, which will ultimately determine what the bonds trade at.
If Abacus write off the good will that has been accumulated on the balance sheet, it doesn't leave much in net assets for this company?
Also what is the strategy here with these bonds, are they looking to sell down a portion of them in the short term?
Personally, I don't see the need for PAC to hold these bonds for the income and would prefer the proceeds are used for the buyback, which could be upsized to closer to ~$400m.
Ann: Sale of Interest in Carlisle Management Company, page-8
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Last
$10.66 |
Change
-0.050(0.47%) |
Mkt cap ! $556.4M | |||
| Open | High | Low | Value | Volume |
| $10.76 | $10.83 | $10.60 | $1.033M | 96.41K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3000 | $10.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.85 | 500 | 1 |
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| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| PAC (ASX) Chart |