Personally, I think they are buying back the BBN020' cheap at the moment, one NZ broker has missed the boat and suggested to a small number of clients to bail.
Once the sweep produces real money the bonds will revert to .80c or 20-25%. Sellers at this level are being shafted, the bonds rank equally with the banks!
The sweep is in their interest also.
Re BBn010, they still represent good value due to their early maturation, these holders seem to have a better handle as sellers have dried up and are now at 80%, still a good deal for investors interested in divvies!
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