That math is pretty much right, though the notes are convertible into stock. NHC would pay par+accrued at the end unless the holder exercises.
As it is, it's pretty easy to value and quotes seem to indicate that's the case. Around $332 per $100 face value atm. Given the delta of the embedded option, this is economically similar to an on market stock buyback.
Ann: Update - Liability and Capital Management, page-10
Add NHC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$4.93 |
Change
-0.290(5.56%) |
Mkt cap ! $4.167B | |||
| Open | High | Low | Value | Volume |
| $4.90 | $4.96 | $4.89 | $14.46M | 2.963M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 7246 | $4.93 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $4.94 | 826 | 3 |
View Market Depth
| Last trade - 16.10pm 03/10/2024 (20 minute delay) ? |
| NHC (ASX) Chart |