Does anyone have any thoughts on the offer to roll over/reinvest BOQPD into the new Capital Notes?
Seeing as BOQPD pays a margin of 5.1% + BBSW compared to the new Capital Notes forecast of 3.75%-3.95% + BBSW, I'm not sure why I would be inclined to take up the newer notes for less return?
Am I missing something? Any alternative views appreciated.