Income seeking investors may wish to look at listed Villaworld Bond (VLWHA).
The details are as follows;
a. Face value $100 per unit, now trading above $103 hence 3+% premium to face value
b. Expiry date 21 April 2022
c. Pays quarterly interest at 3 month BBSW rate+4.75%
Next payment ex-date Oct 11 , pays $1.6976 per unit (equals to 6.79% per annum)
d. No franking
e. Villa World is a niche property developer of residential land in greenfield east coast corridor
NPAT: $43.6m
EBITDA: $71.4m
Interest Cover: 6.8x (EBITDA cashflow covers interest payments by close to 7 times)
Paying $23.5m dividend annually
Best time to buy would be upon ex-date when price adjusts for interest but however does not usually drop as much as the interest.
This is by far IMO the only best available high yielding listed bond on ASX unless you are prepared to consider Crown Consolidated (which I would avoid) and pays substantially more than your average term deposit in the market.
