registerme
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Post by registerme on Jul 21, 2017 16:25:26 GMT
Hi ablrate, please could we get a general company update, and specifics on what the funds to date have been used for?
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stevio
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Post by stevio on Jul 21, 2017 18:37:12 GMT
Also, have the assets increased in value at all, because the overall LTV of all the loans will be diluted by this new loan
Previous tranches should rank ahead of this loan to reward the early investors
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elliotn
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Post by elliotn on Jul 22, 2017 2:41:22 GMT
Hi ablrate, please could we get a general company update, and specifics on what the funds to date have been used for? A big weakness of ablrate - excellent opening documentation and then Nothing unless the borrower comes back for more money. All my website Q&As have been ignored.
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blender
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Post by blender on Jul 22, 2017 7:41:43 GMT
Hi ablrate , please could we get a general company update, and specifics on what the funds to date have been used for? A big weakness of ablrate - excellent opening documentation and then Nothing unless the borrower comes back for more money. All my website Q&As have been ignored. I think it is rather in the nature of P2P that the platform does not provide ongoing supervision after assessment and lending, other than by monitoring the repayments. There is just not a sufficient income stream. The fact that Ablrate takes a monthly percentage helps (if it is modest). However, it is the coming back for more that I find troubling, in that you cannot lend on the first proposition without thinking that it is the first 'tranche' of the real requirement and your security may later get diluted. And certain borrowers who are themselves lenders will pass on the minimum physical security to lenders while bigging-up its value and 'LTV'. Such borrowers can become too important to the platform, and to its monthly income. More diversity is needed - but that takes a lot of effort.
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oldgrumpy
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Post by oldgrumpy on Jul 22, 2017 8:18:36 GMT
If the current total real value of the security is not substantially higher than before I am more likely to sell my previous two loans than buy into this third one if this one is not ranked behind the earlier ones in the event of default.
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Post by dan1 on Jul 22, 2017 8:40:57 GMT
If the current total real value of the security is not substantially higher than before I am more likely to sell my previous two loans than buy into this third one if this one is not ranked behind the earlier ones in the event of default. Looks like others have done this, the best bids are down below 96% where if memory serves me correctly they used to be at about par. I don't hold enough to consider selling. Worth remembering this is the 2nd loan in quick succession to this parent group - of course mixed in with a couple of early redemptions.
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elliotn
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Post by elliotn on Jul 22, 2017 8:55:35 GMT
If the current total real value of the security is not substantially higher than before I am more likely to sell my previous two loans than buy into this third one if this one is not ranked behind the earlier ones in the event of default. Tried that, as Dan says, about as attractive as a 2nd hand motor.
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stub8535
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personal opinions only. Not qualified to advise on investment products.
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Post by stub8535 on Jul 24, 2017 14:47:58 GMT
Were the figures in the first two loans quoted using a mixture of tonnes and tons as this latest one is?
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stevio
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Post by stevio on Jul 24, 2017 18:46:02 GMT
I'm opting to stick with tranches 1 & 2 (circa £6 mil 1st charge offering) and will avoid the 3rd and any subsequent Tranches as the security offering IMO 'views' weaker upon compare and contrast. Security dilution arguably begins with Tranche 3 so I asked myself why subscribe and compromise? Could Tranche 1 therefor be considered the strongest contender for a 'hold' as it's repayment date is set for December 2018 as opposed to Tranche's 2 & 3 which are due for repayment in February 2019. Maybe I'm missing something but how were investor monies from Tranches 1 & 2 spent, what did those funds achieve? How will funds from Tranche 3 be spent and how will this enhance the value of the overall project? The security is the same between tranches and all tranches are likely to payback the same date
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stevio
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Post by stevio on Jul 24, 2017 20:10:47 GMT
Hi stevio , I'm happy to stand corrected/eat humble pie if I've been mistaken so could I/we ask ablrate to confirm the status of the security offerings for Tranches 1, 2 & 3 and for any future Tranches in support of this project? Best regards. If you read the Loan Proposal, its the same security for each tranche
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hazellend
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Post by hazellend on Jul 24, 2017 20:37:21 GMT
Hi stevio , I'm happy to stand corrected/eat humble pie if I've been mistaken so could I/we ask ablrate to confirm the status of the security offerings for Tranches 1, 2 & 3 and for any future Tranches in support of this project? Best regards. If you read the Loan Proposal, its the same security for each tranche No, this tranche is 2nd charge on property in g******* r********. Or I have I not read the first two tranches properly?
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justme
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Post by justme on Jul 24, 2017 20:41:31 GMT
Price of 1st and 2nd tranche is at discount on secondary market now ...
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Jul 24, 2017 20:58:07 GMT
If you read the Loan Proposal, its the same security for each tranche No, this tranche is 2nd charge on property in g******* r********. Or I have I not read the first two tranches properly? Exactly the same on all tranches Debenture on borrower subsiduary who owns equipment 2nd charge on property via the subsiduary who owns the site CG from parent company XCG from main Group parent company PG from principal of Group
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stevio
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Post by stevio on Jul 24, 2017 21:04:48 GMT
Price of 1st and 2nd tranche is at discount on secondary market now ... People realising there was a dilution of the security and exiting
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macq
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Post by macq on Jul 24, 2017 22:01:56 GMT
Am already in the other loans so may give this a miss & do have a few qualms about how this loans security may work with/against the first two. But i do think it makes a change from the car/property loans of late.It would seem to be a growing company in what would appear to be an area which will come with more regulation not less.They mention at the completion of phase one that all plant & machinery will have been serviced & operational.Seeing as that was installed by the previous owners for 15M(and buildings for 30M) you would hope that would provide plenty of security to go around along with the other guarantees but do notice they have debt of 6.5M in all.But seeing this is tranche 3 i have to think that Abl would look into this loan & what it means to the others in a close way and they even seem happy it will pay back at the same time as the others. Whatever the first loans are going for on the SM this one seems to be catching the car one up and i have a feeling will do well when the holiday park pays back
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