bonlac notes a bargain

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    bonlacs interest bearing securities (bflha) called perpetual floating rate notes are effectively bonds with no fixed redemption, have a face value of $100. from july 1st they will pay 3.5% above the prevailing 180 day bank bill rate of 4.5%.effectively 9.6%. you can buy them on market for $83. $17 below face value. bonlacs financial situation looks good and does not look like missing a payment. with a great chance of merging or being taken over bonlac will more than likely redeem these notes when it is possible to get cheaper debt. soon you would imagine.
    check it out
 
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