I see that Contact and Genesis bonds have been re rated and there is possibility they will be called in according to news. Anyone have any further info on these. I purchased at outset so cannot lose but would be nice to buy in more at current rates AS LONG AS they dont get retired.
Contact and Genesis
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08-04-2013, 06:51 PMBIRMANBOYContact and Genesis
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19-06-2013, 04:35 PMkiwitrev
Hi BBoy
Have you got any further info. re the Contact (CENFA) bond as regards possible retirement. Also with the first reset date(5 yrs) do you know what they refer to as the Benchmark rate. These prospectus are always confusing. Thanx. -
19-06-2013, 05:20 PMBIRMANBOY
Hey KT...sorry I'm pretty sure I binned the paperwork when it came in because I decided I'm just taking the funds back and putting them elsewhere. Cannot remember what the details were but obviously were not compelling enough to either consider re signing or hold onto.
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Originally Posted by kiwitrev
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21-06-2013, 02:56 PMDubdee
the benchmark is usually a wholesale indicator rate for the term until maturity or next reset. For retail issues it is typically the X year swap rate which is the rate banks will exchange the interest on a strip of bank bills for a fixed payment stream or vice versa.
the 5 year swap rate is the most common. To be sensible the present values of the fixed flows must match the present value of the expected returns on the series of bank bills. -
21-06-2013, 04:22 PMBIRMANBOY
I am getting confused...sorry.. for some reason i thought i had received info that Contact was retiring them but it must have been the Genesis i was thinking about. When I called them there was no information available about them being retired/refinanced but I'm thinking it cant be too far away.
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Originally Posted by kiwitrev
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21-06-2013, 05:18 PMPOSSUM THE CAT
Birmanboy Contact bonds 15/5/2014
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21-06-2013, 06:29 PMkiwitrev
PTC
The reference is to CENFA not CEN010 -
23-10-2013, 04:59 PMBIRMANBOY
Well that was sort of inevitable...retiring them in November...still 8% per annum for 2 years was a nice ride. Next!