yes, and there is the added opportunity on GNSPA that they may...

yes, and there is the added opportunity on GNSPA that they may be redeemed in near future given their current margin over BBSW is already a stepped up 5%. This margin might be considered too high for the credit risk. In the meantime, running yield is just below 12%. Redemption brings on a 33% capital gain. Seems pretty attractive.

One other below the radar screen is SAKHA. It is a note maturing in two years (31 Dec 2011) so guaranteed redemption. At first glance, yield is thin at around 5.7% and potential capital gain is only an extra 7% but with MAP shoring up balance sheet with capital raising, this is I think a safer one than most.