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Post by gravitykillz on Apr 8, 2019 13:36:14 GMT
Hi was thinking if it is wise to put this bond on wise alpha regardless if it pays 40%. It is more than likely to be devalued very soon and bondholders will lose money.
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Post by gravitykillz on Apr 9, 2019 7:44:53 GMT
Dont think its working out with sports direct. Mike is about to lose £150 million! But considering he is worth £3 billion he will live.
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Post by gravitykillz on Apr 9, 2019 7:45:58 GMT
Retail sector just aint what it used to be.
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Post by gravitykillz on Apr 9, 2019 10:51:32 GMT
So what happens to the debenham bonds on wise alpha ? Traditionally do they devalue ? Or continue at that ridiculous rate ?
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Post by gravitykillz on Apr 9, 2019 12:35:01 GMT
Debenhams bond has been removed. Not sure what will happen to those who have purchased this already.
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benaj
Member of DD Central
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Post by benaj on Apr 9, 2019 13:59:37 GMT
I don't have any Debenham WA notes, but I see the current Status as follow:-
Performing, All payments are on time. Next payment date: 15 Jul 2019
The note can be viewed on Special situations, but none available. I am a "Retail Restricted"
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hendragon
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Post by hendragon on Apr 9, 2019 15:37:59 GMT
Wisealpha given what has been happening with Debenhams and HOF I would like to ask how you might handle any debt for equity swap?
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Post by gravitykillz on Apr 9, 2019 16:40:07 GMT
My bad.
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macq
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Post by macq on Apr 9, 2019 17:39:10 GMT
the 49% is the yield to maturity which takes into account the discount in price and payment in full at the end rather then the coupon price of 5.25%,which is a good reason to check if your paying a premium on a WA note and checking the YTM as it may be less then you want (but a discount could give you a better profit on repayment all being well)
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cwah
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Post by cwah on Jul 6, 2019 7:50:27 GMT
What does this waiver means? Bonds holder lost all their money?
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cwah
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Post by cwah on Jul 7, 2019 7:12:21 GMT
"What does this waiver means? Bonds holder lost all their money?" No "The waiver means it’s ok for there to be no repayment at term. Looks like existing shareholders get nothing and existing bond holders get shares. The new shares will be worth very little (a tenth?, a twentieth?) and probably won’t be tradable for a while" It says "obtained the required consents necessary to waive any deemed or actual Default or Event of Default and any violation of the Trust Deed arising as a result of the Company's failure to furnish to the Trustee, file, post or otherwise publish an interim report of the Group for the first six months of the 2019 fiscal year" Or you could cut it down to "obtained the required consents necessary (not to) publish an interim report of the Group for the first six months of the 2019 fiscal year" The previous Consent Solicitation, dated 24th June, also says: "The Group is also currently in the process of formulating a wider balance sheet restructuring, in connection with which it is anticipated that another Group entity will become the issuer in respect of the Notes and will furnish future financial information to Holders of the Notes. Given that the Company is currently in administration and to facilitate any future debt restructuring of the Group, DRL is soliciting Consents to irrevocably waive any default or event of default under the Trust Deed and the Notes arising as a result of the failure to furnish to the Trustee, file, post or otherwise publish the 2019 Interim Report" Meaning bond holder gets nothing?
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