Alan, seems like a low risk trade to me as even if Elders don't make a bid one would have to think that Fonterra will get to 50% of Bonlac thereby improving Bonlac's profitablility and therefore their debt servicing abiliity which will push the notes up.
If Elders don't make a bid the notes could actually trade above $100 down the track if Fonterra get to 50% of Bonlac as the credit rating of the notes should get back to investment grade which would push their price above $100 due to their high yield.
In the meantime I am happy with a yield of above 11%.
Good luck with your position.
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Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
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Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
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View Market Depth
No. | Vol. | Price($) |
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1 | 1 | 6.350 |
2 | 1080 | 6.340 |
1 | 158 | 6.300 |
1 | 250 | 6.250 |
Price($) | Vol. | No. |
---|---|---|
6.450 | 292 | 1 |
6.470 | 677 | 1 |
6.490 | 2178 | 1 |
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