RE:Exchangeable debenture redemption valueThey said in the NR that they would not repay it prior to the date.
Means 2 things: 1) They are going to look at acquisitions which offer higher IRR than repaying the debentures and 2) They have a reasonable expectation that the share price will be higher than the conversion price prior to that date and would prefer dilution.
This is a strong indicator for Y's next 12-24 months performance.