Hi All,
a) Just querying about the issuers able to help with a cash extraction ? I have
a number of shares with large cap gains (BHP/ANZ) and don't want to trigger the sale.
I have used warrants a couple of years ago. The pool of issuers seems to have shrunk !
I am after resetting/roll-over style warrants, ie. longer term with the option of paying/receiving
a differential every 18 months or so. Not self funding.
Macquarie appear to be closing these on 19 May 2011?
Westpac have closed their (limited) instalment offerings. (SFI only)
UBS have a swag of SFI but the other styles are priced for Mar 2010 (?) or have a very small selection
What would be my best options - RBS/Citi ? Is there a minimum amount on these extraction deals ?
b) Maturities - I was looking to get a warrant with a maturity of (say) 15 months. Most I can find
seem to mature at end of 2011. Is this normal ? I seem to previously remember being
able to get longer dated warrants
c) Risk of issuer termination ?
What risk should I consider that an issuer will close up shop ? Ie. end the trust arrangement,
cash settle the warrant and force a capital gain to me
Thanks for any suggestions
a) Just querying about the issuers able to help with a cash extraction ? I have
a number of shares with large cap gains (BHP/ANZ) and don't want to trigger the sale.
I have used warrants a couple of years ago. The pool of issuers seems to have shrunk !
I am after resetting/roll-over style warrants, ie. longer term with the option of paying/receiving
a differential every 18 months or so. Not self funding.
Macquarie appear to be closing these on 19 May 2011?
Westpac have closed their (limited) instalment offerings. (SFI only)
UBS have a swag of SFI but the other styles are priced for Mar 2010 (?) or have a very small selection
What would be my best options - RBS/Citi ? Is there a minimum amount on these extraction deals ?
b) Maturities - I was looking to get a warrant with a maturity of (say) 15 months. Most I can find
seem to mature at end of 2011. Is this normal ? I seem to previously remember being
able to get longer dated warrants
c) Risk of issuer termination ?
What risk should I consider that an issuer will close up shop ? Ie. end the trust arrangement,
cash settle the warrant and force a capital gain to me
Thanks for any suggestions
