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.
Alan, seems like a low risk trade to me as even if Elders don't...
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Last
$6.20 |
Change
0.090(1.47%) |
Mkt cap ! $2.896B | |||
| Open | High | Low | Value | Volume |
| $6.12 | $6.20 | $6.12 | $12.18K | 1.967K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1500 | $6.16 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $6.20 | 7759 | 1 |
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| Last trade - 15.49pm 27/09/2024 (20 minute delay) ? |
| BFL (ASX) Chart |