Sell Transpacific SPSs

Rich with cash from the $880m sale of its New Zealand business, Transpacific is paying off its debt and redeeming its Transpacific Step Up Preference Shares.Since we recommended them in Opportunity in the scrap heap from 11 Sep 13 (Buy – $95.37) they’ve provided a total return of 12.1%, which is a pleasing return in six months from a lower-risk income security. Today’s market price of $103.75, which includes the $2.99 (fully franked) income payment that becomes due to investors who own the securities on 25 Mar, means there’s little difference between selling on the market today or waiting for redemption...

Rich with cash from the $880m sale of its New Zealand business, Transpacific is paying off its debt and redeeming its Transpacific Step Up Preference Shares.

Since we recommended them in Opportunity in the scrap heap from 11 Sep 13 (Buy – $95.37) they’ve provided a total return of 12.1%, which is a pleasing return in six months from a lower-risk income security. 

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