IFTHA Infratil Perpetuals

[kiwitrev]

I don't think so. Look at the interactive chart on NZX. Two yrs ago 68 rising to 78 Dec. 2014 and today 68. I'll be flabbergasted if not a big correction

[kiwitrev]

Found another chart ASB Sec. fixed interest. During period 2012 to 2013 1 yr swap around 2.45 to 2.5% and IFTHA trading at 52 would suggest to me my calcs approx. correct

[BlackCross]

Company bought some back

Perpetual Infratil Infrastructure Bonds Buyback

8:44am, 13 Oct 2015 | BUYBACK

Infratil Limited advises that it has acquired its own securities. The following information is provided in accordance with Listing Rule 7.12.1:
Class of security: Perpetual Infratil Infrastructure Bonds
ISIN: NZIFTD0020S9
Number of Perpetual Bonds acquired: 1,451,600
Acquisition Price (average): $0.69
Payment: In cash
Amount paid up: Perpetual Infratil Infrastructure Bonds
Percentage of the total class of securities issued (after the acquisition): 0.62%
Reason for the acquisition: Considered by the Directors to be in the best interests of the Company and shareholders.

[Harvey Specter]

Company bought some back

Sneaky - pay 69c and eliminate a $1 liability. Indicates it is unlikely they will ever repurchase at face value.

[GTM 3442]

Sneaky - pay 69c and eliminate a $1 liability. Indicates it is unlikely they will ever repurchase at face value.

If I remember correctly, they've been doing this for a few years now, off and on. No wonder the price has gone up so much since I bought them. . .

[kiwitrev]

Looking ahead a bit to November reset. If OCR goes t0 2% by then new coupon likely to be about 3.5%-currently 4.26%. Buyers and sellers of this bond should pay attention to this fact.

[freddagg]

I am paying attention to the one year swap rate, that"s what it will be reset on in Mid November.

[Traderx]

IFTHA down to 60ish along with the outlook for rates, reset upcoming may be to circa 3.5% so effective circa 5.8% at current market value. Still seems attractive but obv the market is risk averse with an ever lower long term outlook for rates.

[Grimy]

I bought a few more yesterday. I still feel the return is pretty good at current price and probably keeps my average around the 63-64 cent mark. I am getting close to being overweight in IFT bonds in general, but as the fixed term bonds mature I can decide whether to reduce or hold at current portfolio%. I don't think I've finished buying IFTHA just yet...

[Grimy]

And however far the OCR and bank rates fall, I'm guessing the rate on these will look attractive enough in comparison. It would be nice if the 1.5% was a bit higher, but it is what it is and I'm always happy when payment date rolls around.