Burford bonds

[Neutrino]

Treasury 0.25% 31/01/2025 (TN25) is showing Sell: £92.20 | Buy: £92.40. Based on a mid price of £92.30 I get an annual yield of 5.363% (lower considering trading costs), most of which is UK tax free capital gain (for gilts).

I found that trades on UK gilts executed at close to mid price, not at the nominal bid or offer prices.

The UK yield curve is here:
https://markets.ft.com/data/bonds

[hind]

Laughton, personally think its quite good as can swap for some extended duration at good rates

[princepaul]

Damn! I was quite happy seeing these through to redemption next year. Now I'll have to look for an alternative home for the proceeds somewhat sooner.

There's always BUR3 (5% 2026). Currently yielding about 7.42% (gilts+260bp). With the latest round of funding in place, Burford are well financed way past the redemption date on these bonds, and the chances are they will also be bought back early at a premium.

[Laughton]

Damn! I was quite happy seeing these through to redemption next year. Now I'll have to look for an alternative home for the proceeds somewhat sooner.

There's always BUR3 (5% 2026). Currently yielding about 7.42% (gilts+260bp). With the latest round of funding in place, Burford are well financed way past the redemption date on these bonds, and the chances are they will also be bought back early at a premium.

Ah yes. Thanks for that.

[cosmokramer]

repayment date is today, any news about a redemption price yet?

[Laughton]

100p plus the accrued.

https://www.londonstockexchange.com/new ... s/16032610

[cosmokramer]

cheers Laughton, now to find a home for this cash

[Laughton]

Repayment due yesterday (July 12) but nothing received so far from idealing or HL.

Anyone actually seen the cash yet?

[Surerera]

Nothing from AJ Bell either.

[cosmokramer]

Have just received the funds from Interactive Investor, no accrued interest though which isn't right is it?

[Laughton]

Now received redemption and accrued in all my idealing accounts. Nothing still via HL.

[formoverfunction]

ii as of last night received capital, but not interest.

[cosmokramer]

interest now in on my ii account

[Surerera]

All money received from AJ Bell and I've re-invested some in BUR3 at 92.44 which is 7.57% ytm.

[Laughton]

HL now credited redemption proceeds but not accrued.