Forum Archive Index - December 2001

["Emerald Group" <emerald.co@actrix.co.nz>]

The high interest rate and low take up of BlueStar bonds would suggest that
both the company (offering unusually high interest rate) and investors have
factored in a higher degree of risk than that say of Fonterra.  At the end
of the day, what people want to know is what chance have they got of seeing
their capital returned when the bonds mature.  Also will the company's
ability to pay interest continue?
Remember Skellerup bonds? Remember Metropolis bonds?  Both looked fine on
the surface, but at the end of the day, the fundemental backing was lacking.

EK
----- Original Message -----
From: <ichi@ihug.co.nz>
To: <sharechat@sharechat.co.nz>
Sent: Saturday, December 15, 2001 11:07 PM
Subject: [sharechat] Nuplex, BlueStar


> Ian Andrews wrote:
> >
> > I was attending a broker's briefing from the CEO of Nuplex
> > (I own some NPX). I was amazed at the depth of the business,
> > & impressed with the goal of 15% p.a. EBITDA.
>
> I, for one, would be interested in some discussion on Nuplex
> (I do not own NPX).  Any of you guys got an opinion?
>
> Also, I am amazed that the BlueStar Print issue hasn't been
> snapped up by interest-rate-hungry investors.  I would have
> thought that mom & pop would have found the 10.75% irresistable.
> And such a pretty prospectus, too.
>
> The front page of the latest Greenslades newsletter is a laugh:
>    Fonterra  7.00%  SOLD  (in a buying frenzy)
>    Fernz     8.50%  SOLD
>    NPT       9.50%  limited supply
>    BlueStar 10.75%  lots available (please buy some)
>
> You could be forgiven for thinking that the market is up-side-down,
> with the lowest returns the most desirable.
>
> Disclaimer: I own Fonterra, Fernz and NPT.  BlueStar made me queasy.
>
>
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