Products at Telstra II deadline
Financial services groups are lining up for huge expected demand for methods of deferring final payments for Telstra II shares.
Financial services groups are lining up for huge expected demand for methods of deferring final payments for Telstra II shares.
Macquarie Bank will launch three products today, the same day Telstra sends re-minder letters to Telstra II instalment receipt holders that their final payment is due on November 2.
Macquarie’s instalment products give investors the opportunity to further defer payment of the remainder of their shares.
Director of Macquarie’s warrants and structured equities division, Jeff Weeden, says none of the products requires upfront payments by investors.
Industry commentators have been expecting a number of products to be offered to Telstra instalment receipt holders, especially given the recent decline in the share price of the receipts and the Telstra shares. The receipts listed at $4.50 but have hit recently gone as low as $2.86.
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