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Post by alexp2p on Jun 23, 2020 13:19:28 GMT
Any opinions on the new loan B***** M**** C**** U*** ?
Tenant stability looks at least good.
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eeyore
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Post by eeyore on Jun 24, 2020 8:49:48 GMT
Any opinions on the new loan B***** M**** C**** U*** ? Tenant stability looks at least good.That's not my reading of the valuation report! The valuer doesn't seem to share your optimism about the larger of the two tenants: " In our opinion, investors would consider the company to offer poor-reasonable covenant strength." From the figures quoted by the valuer, although the tenant's turnover nationally is growing year-by-year, the profitability is going down and the "Tangible Net Worth" (a parameter I'm not familiar with but I assume is assets minus debts) is negative and falling. Other than that, the proposition looks straightforward. PS: For the avoidance of doubt, this is Proplend loan PLL0941
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metoo
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Post by metoo on Jun 27, 2020 20:55:02 GMT
Tangible Net Worth is Net Assets less Intangible Assets. See accounts at Companies House.
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eeyore
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Post by eeyore on Jul 23, 2021 16:53:19 GMT
The Barry C*** M*** U** (PLL0941) loan was repaid today in full, together with an early redemption fee of £10 per £1,000.
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