ETW 0.00% 2.4¢ etw corporation limited

etwg convertible note

  1. 2,123 Posts.
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    hey Macrae12; well, they passed the first hurdle; Paid 40 cents; getting 4.125 cents interest payment. Semi annual so yield around 22% p.a.; In meantime, there is uncertainty as balance sheet restructure takes place and it has been announced convertible notes will be consolidated into a new preference equity insutrument at set conversion rates. What this means is that it may be that not 100% of face value will be returned. In the meantime, ahead of any restructure to be announced in January, the convertibles rank ahead of equity in any wind up and earn a yield of 22% per annum. Even if there is a hair cut on the conversion, the return looks appealing
 
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