Hi everyone..any thoughts on 7s Preference shares?
See part of note below from Commsec
We are pleased to offer you the opportunity to invest in Seven Network Limited (“Seven”) through the issue of a new class of preference shares by Seven called TELYS3 (“Transferable Extendable Listed Yield Shares”).
TELYS3 offer semi-annual, floating-rate dividends at a margin of 2.50% over the 180 day Bank Bill Swap Rate including the value of franking. The minimum cash rate for TELYS3’s first dividend period will be 5.88% p.a. which provides an effective yield of 8.40% p.a. after including the value of franking.
Note: This web page is not an offer document. It has been prepared to enable you to apply for TELYS3 should you wish to do so. Details concerning this offer appearing on this web page have been taken from the prospectus issued by Seven and dated 6 April 2005 and expires on 5 May 2006(the “Prospectus”). The Prospectus has been lodged with ASIC. The Prospectus is important and should be read in its entirety.