mxupa showing 42 per cent per annum return

Owned now by Brookfield Asset Management, Mutliplex Sites offer 42% per annum return to April 2010. At this time, Brookfield have three options (a) exchange for equity (not possible now as MXG is no longer listed (b) pay increased coupon (Step Up of 2%) or (c) pay out noteholders. Given strong credit rating of Brookfield (S&P A-/BBB+), I am advised the very likely if not certain option is for Brookfield to tap bank lines and pay out noteholders. 42% per annum return where most is a capital gain seems compelling, especially in this market.