I'm having trouble finding a good reason to support early...

I'm having trouble finding a good reason to support early redemption.

Anyone know a good reason?

The 20% premium is more than the interest if they let them run their course.

The only benefits i can see could be
* if unsuspecting holders didn't convert or
* they needed to get rid of the charge to give access to the security over the assets to raise more debt which hopefully isn't going to be an issue during the life of the bonds.

As the bonds are treated as debt I presume the premium would be a revenue expense the same as the interest so no ability to incur a bit of extra B.S. cost to dress up NPAT available there.