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New Hope Prices New A$ Convertible Note

CREDIT UPDATE
New Hope Corporation (ASX: NHC) is an Australian company primarily engaged in the exploration, development, and production of coal, as well as related infrastructure activities such as coal preparation and transportation. It also has interests in oil and gas, agriculture, and port operations.
  • New Hope priced a new A$ convertible bond - NHCAU 4¼ 07/12/29 (XS2856118810) with a conversion price of $6.63, the stock price is currently trading at $5.125.
  • They previously issued an A$ convertible bond back in 2021, which returned 238.23% over 21 month period before being converted
  • The stock price is little changed for the past year, reaching highs in Oct 2023 of $6.48, and lows in march of $5.217.
  • Newcastle Coal prices have been trading between $120-150 since crashing from records highs in Early 2023, although we still trade average long term averages of about $110.
  • There are some concerns around exports to China after their pivot toward Indonesia and Russia as leading sources of imported coal stands to continue as its relations with Australia remain shaky, even after China lifted its import ban on Australian coal early in 2023.
  • Of the 9 analysts covering the stock on BBG, the average 12 month target price is $4.84
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New Hope Corporation (ASX: NHC) is an Australian company primarily engaged in the exploration, development, and production of coal, as well as related infrastructure activities such as coal preparation and transportation. It also has interests in oil and gas, agriculture, and port operations.
  • New Hope priced a new A$ convertible bond - NHCAU 4¼ 07/12/29 (XS2856118810) with a conversion price of $6.63, the stock price is currently trading at $5.125.
  • They previously issued an A$ convertible bond back in 2021, which returned 238.23% over 21 month period before being converted
  • The stock price is little changed for the past year, reaching highs in Oct 2023 of $6.48, and lows in march of $5.217.
  • Newcastle Coal prices have been trading between $120-150 since crashing from records highs in Early 2023, although we still trade average long term averages of about $110.
  • There are some concerns around exports to China after their pivot toward Indonesia and Russia as leading sources of imported coal stands to continue as its relations with Australia remain shaky, even after China lifted its import ban on Australian coal early in 2023.
  • Of the 9 analysts covering the stock on BBG, the average 12 month target price is $4.84