its a canary, page-13

notes convert in two years time (tpi have confirmed this)

TPAPA pays 3% above the bank rate, fully franked distribution every 6 months, rate is determined on the day after distribution payment.


TPAPA is pretty much debt used by TPI to pay for assets.
2.5 million notes where issued.


ATM TPI shareprice is being driven down due to the fear of a possible discounted capital rasing to pay down debt and also fund a possible acquisition of the NSW government waste services.


Here is the short selling stats for the 28th of november,

TPAPA 300 out of 2,500,000 (0.01%)
TPI 266,349 out of 310,477,963 (0.08%)