Quote Originally Posted by Penfold View Post
I'm tempted to sell the clip I picked up in December. I suppose at 59 they are still yielding over 8.5% for investment grade paper. And the bank's senior issues are still rated A by S&P. Probably about a fair price for them given the subordination. May turn out to be cheap if they all them l at 60c+ soon... they seem to have done this in other cases recently.
Equivalents of CASHA were recently traded at much higher prices in Europe. For example, FR0000475790 at 0.82, FR0010291997 at 0.83, and FR0010248641 at 0.92.

If you bought CASHA in December, you have already gained 10% in a month.

I compares CASHA with IFTHA. They are traded at similar prices. IFTHA, I think, is not rated, and pays an interest of 3.97% pa.

I would think on long-term Credit Agricole would be more reliable than Infratil. It is difficult to imagine Credit Agricole would collapse in 5 years.