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Fixed Income Investor Refugees

Gilts, bonds, and interest-bearing shares
Holts
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Re: Fixed Income Investor Refugees

#477372

Postby Holts » January 30th, 2022, 10:06 pm

I missed these notices from Lloyds on the 4th January , every opportunity to clear this historical debt , it does make you think again about their two popular prefs c and d


https://www.investegate.co.uk/lloyds-ba ... 46113405X/

GoSeigen
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Re: Fixed Income Investor Refugees

#477441

Postby GoSeigen » January 31st, 2022, 9:53 am

Holts wrote:I missed these notices from Lloyds on the 4th January , every opportunity to clear this historical debt , it does make you think again about their two popular prefs c and d


https://www.investegate.co.uk/lloyds-ba ... 46113405X/


Note these are bonds (debt), not shares...

GS

Laughton
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Re: Fixed Income Investor Refugees

#479543

Postby Laughton » February 9th, 2022, 4:30 pm

This popped up on my iDealing account today. I know nothing about it. Haven't done any research yet but thought it might be of interest to some:

Orchard Bond Finance plc 6.25% Bonds due 2 June 2027 is to list on The London Stock Exchange

geoffp
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Re: Fixed Income Investor Refugees

#479564

Postby geoffp » February 9th, 2022, 6:01 pm

Hi Laughton,
Thanks for the heads up on this. On their website I found the following -

"6.25% Bonds due 2027
On 9 February 2022, Orchard Bond Finance PLC (the "Issuer"), a wholly owned subsidiary of Orchard Funding Group PLC, published a Prospectus in respect of an issue of 6.25% bonds due 2027 ("Bonds").
Application will be made to the FCA for the Bonds to be admitted to its Official List and to the London Stock Exchange plc for such Bonds to be admitted to trading on its regulated market and through its Order Book for Fixed Income Securities ("OFIS") market."

There's probably some technical reason why it will be OFIS rather than ORB but, in my experience the OFIS market tends to be less liquid and less easy to deal in. However with Interactive Investors reluctance to let anyone buy other than over the telephone that is probably irrelevant anyway.

Laughton
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Re: Fixed Income Investor Refugees

#479732

Postby Laughton » February 10th, 2022, 11:22 am

TwentyFour Select Monthly Income Fund - SMIF

Held a webinar today which I managed to register for before they decided that I wasn't clever enough and so my registration got cancelled.

But managed to access the slides that went along with it -

https://mma.prnewswire.com/media/174397 ... b_2022.pdf

Currently yielding around 7% and I was glad to pick up some more yesterday @ 91.98p (not a recommendation - remember I've been classified as "not clever enough")

Gan020
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Re: Fixed Income Investor Refugees

#479745

Postby Gan020 » February 10th, 2022, 11:51 am

Laughton wrote:TwentyFour Select Monthly Income Fund - SMIF

Held a webinar today which I managed to register for before they decided that I wasn't clever enough and so my registration got cancelled.


I successfully registered but they cancelled me too. I offered to sign my life away as a HNW but they still wouldn't let me in. This sort of attitude from fund managers disgusts me. Sadly there is little we can do about it.

AleisterCrowley
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Re: Fixed Income Investor Refugees

#479750

Postby AleisterCrowley » February 10th, 2022, 12:03 pm

It might be a compliment.
They are probably looking for people who are;
(a) very rich
and
(b) very stupid

Laughton
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Re: Fixed Income Investor Refugees

#479757

Postby Laughton » February 10th, 2022, 12:30 pm

One out of two's not bad.

But, in my case, obviously not good enough.

formoverfunction
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Re: Fixed Income Investor Refugees

#479789

Postby formoverfunction » February 10th, 2022, 1:45 pm

Just had a look through presentation, not so much because I'm interested in them, but an ongoing interest in Volta.
I've just received the notification from PrimaryBid on Orchard Bond Finance, I have reason to contact Hargreaves and Interactive later, so I intend to ask them. I've started to do a little bit of DD, not much as I'm not that keen if my only route is via PrimaryBid. Overall, if I can access in a way that works for me, not sure this is one for me.
I wonder if WiseAlpha might also offer it?

genou
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Re: Fixed Income Investor Refugees

#479910

Postby genou » February 10th, 2022, 9:04 pm

formoverfunction wrote:Just had a look through presentation, not so much because I'm interested in them, but an ongoing interest in Volta.
I've just received the notification from PrimaryBid on Orchard Bond Finance, I have reason to contact Hargreaves and Interactive later, so I intend to ask them. I've started to do a little bit of DD, not much as I'm not that keen if my only route is via PrimaryBid. Overall, if I can access in a way that works for me, not sure this is one for me.
I wonder if WiseAlpha might also offer it?


Authorised Offerors:

· AJ Bell Youinvest

· Arnold Stansby & Co.

· Equiniti

· Guy Butler

· Hedley & Co.

· Interactive Investor

· iDealing.com

· PrimaryBid

formoverfunction
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Re: Fixed Income Investor Refugees

#479951

Postby formoverfunction » February 11th, 2022, 5:49 am

Thought I'd have a look and see if there was a desk note on the issue from Guy Butler. There wasn't. But there was a new one on Enquest from January I hadn't seen.

formoverfunction
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Re: Fixed Income Investor Refugees

#479955

Postby formoverfunction » February 11th, 2022, 6:04 am

genou wrote:
formoverfunction wrote:Just had a look through presentation, not so much because I'm interested in them, but an ongoing interest in Volta.
I've just received the notification from PrimaryBid on Orchard Bond Finance, I have reason to contact Hargreaves and Interactive later, so I intend to ask them. I've started to do a little bit of DD, not much as I'm not that keen if my only route is via PrimaryBid. Overall, if I can access in a way that works for me, not sure this is one for me.
I wonder if WiseAlpha might also offer it?


Authorised Offerors:

· AJ Bell Youinvest

· Arnold Stansby & Co.

· Equiniti

· Guy Butler

· Hedley & Co.

· Interactive Investor

· iDealing.com

· PrimaryBid


Thanks for that genou. I was of aware of it from reading the Prospectus and short form. I'm also aware of the inconsistent approach of Interactive Investors, so I thought it worth double checking with them. The ii help desk wasn't able to confirm as they were unaware, well at least the person I spoke to, of the proposed issuance. I didn't get round to contacting HL. You might know that WiseAlpha isn't an authorised offeror, but they have offered several recent ORB listings to their clients, fractional issues of course.

morgleman
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Re: Fixed Income Investor Refugees

#481221

Postby morgleman » February 17th, 2022, 9:24 pm

Does anyone have a view on the 6.25% bonds due 2027 being issued by Orchard Bond Finance.

1nvest
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Re: Fixed Income Investor Refugees

#481224

Postby 1nvest » February 17th, 2022, 9:55 pm

morgleman wrote:Does anyone have a view on the 6.25% bonds due 2027 being issued by Orchard Bond Finance.

https://www.investegate.co.uk/orchard-f ... 00042439U/

Orchard Funding Group PLC ("Orchard", the "Group" or "Company"), the finance group which specialises in insurance premium finance and the professions funding market, announces that it has acquired Orchard Bond Finance PLC ("Orchard Bond Finance") (the "Acquisition").

Orchard Bond Finance is a dormant shell company which was acquired for nominal consideration from the Group's CEO and Orchard Bond Finance's sole shareholder, Ravi Takhar. The Acquisition does not constitute a related party transaction pursuant to AIM Rule 13.

Orchard intends to utilise Orchard Bond Finance as a vehicle to raise liquidity for the Group through a potential listed bond issue in 2022

Yield is reflective of the risk that you might only get back 10%/whatever of your money.

Smells speculative. 5% cost to launch the bond, 6.25%/year interest payments for 5 years, 7.25%/year rough figure, and I would have thought they might have potentially raised liquidity more inexpensively via other channels if there was a sound business model. Perhaps instead 90% of the funds raised placed on the Grand National favourite and if that romps home they're smiling, otherwise offering out apologies alongside the 10% return of capital.

Laughton
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Re: Fixed Income Investor Refugees

#482732

Postby Laughton » February 25th, 2022, 12:47 pm

Still looking for replacements for the LLPC and LLPD tendered at the end of last year.

Picked up a few ELLA today @ 141.30P - stamp duty payable unfortunately but no accrued so make that a yield of a shade over 6.10% excluding costs. Quite happy with that and will buy some more if the price drops.

88V8
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Re: Fixed Income Investor Refugees

#482753

Postby 88V8 » February 25th, 2022, 2:28 pm

Laughton wrote:Picked up a few ELLA today @ 141.30P

Remarkable. I'd have said they are just as safe as the Bristol Water 8s BWRA which have a headline ask of 164.

Been putting money into AXI Axiom lately, current yield >6%.

V8

Laughton
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Re: Fixed Income Investor Refugees

#484836

Postby Laughton » March 7th, 2022, 11:06 am

So, on the basis that everything will return to normal (eventually) or Mr Putin will ensure the world comes to an end, in which case it doesn't really matter what I do, I have dipped my toe into the water again and picked up some more ELLA @ 141.85P.

Hopefully I will still be around to enjoy the 6%+ payments.

hiriskpaul
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Re: Fixed Income Investor Refugees

#484889

Postby hiriskpaul » March 7th, 2022, 2:23 pm

Laughton wrote:So, on the basis that everything will return to normal (eventually) or Mr Putin will ensure the world comes to an end, in which case it doesn't really matter what I do, I have dipped my toe into the water again and picked up some more ELLA @ 141.85P.

Hopefully I will still be around to enjoy the 6%+ payments.

So did I and managed to get some at 141.80. Not sure about anything getting back to normal though, unless you mean before the Berlin Wall came down!

Laughton
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Re: Fixed Income Investor Refugees

#486444

Postby Laughton » March 14th, 2022, 10:23 am

Available this morning @ 141.68p so picked up some more via HL.

88V8
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Re: Fixed Income Investor Refugees

#486675

Postby 88V8 » March 15th, 2022, 10:26 am

Nice yield on ELLA.
But given the predictably downhill trajectory of FI prices is this really a good time to be buying.
Or coming as we do from a decade of rising SPs, is it just a habit we've got into.
Dunno.

Can't help feeling that income equities such as L&G, CSN, PHNX, MNG, might be a better bet just now.

I mean, I'm not out of the market, have bought some more ELLA, also AXI, 44VG, 66WS, but one has to wonder.
Dunno.

V8's heretical meanderings.


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