distribution announced - yield 20pct pa, page-6

Agree NeilN
I was just using 2014 as an assumed time frame for end of credit crisis. Whether MXUPA is redeemed or you sell on market closer to full face value is much the same thing.

If Multiplex (and markets) back to reasonable health in 2014, stepped up interest presents good and safe return (safe in 2014 that is) so my economics I think are ok above. That said, if perpetual, they are ok too as BBSW plus 3.9% is 25% PER ANNUM at BBSW=3%.