(4% + 1.9%)/4 = $1.475 per quarter.... $5.9 per year.
Or 8.05% running yield... approximately...
I want slightly higher than that from my investments, to be honest... so, I really do hope for conversion April 2010 :D.
Credit markets are improving, and, as they improve... conversion becomes more likely.
If ANZ can raise $750M at 3.2%, can Multiplex issue $450m at less than 3.9% ? More importantly, just how much of that $450m does multiplex really need? Can they pay these out, and then just borrow, say, $200M from BAM?
MXG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
