|
|
Post by topgun on Jul 1, 2014 15:18:30 GMT
This well established internet company for the recruitment industry have secured £150k via a mini-bond.
|
|
|
|
Post by mrclondon on Jul 1, 2014 18:37:23 GMT
I sold my FK parts in this one some time ago - far too risky as an unsecured loan for me (I also skipped the secured TC loan), and it is now marked as AVOID on my list. Their balance sheet position has deteriorated markedly since the FK loan was drawn. IMO they should be raising equity not debt.
EDIT: For those with access to the old TC forum, more info on the mini bond is contained in a pdf linked to on page 5 of the "Curent Offerings" thread. (A bit of creative googling would probably reveal it as well)
|
|
wysiati
Member of DD Central
Posts: 397
Likes: 86
|
Post by wysiati on Jul 1, 2014 19:59:34 GMT
Their balance sheet position has deteriorated markedly since the FK loan was drawn. IMO they should be raising equity not debt. They did raise more equity (headline £400k IIRC) via Crowdcube. The mini-bond route being used now, AIUI, refinances outstanding loans at a much lower rate, improves the cash position with the absence of monthly payments, removes the TC charge and reduces the likelihood of further dilution for existing shareholders prior to exit.
It looks as though investors are being offered something closer to equity type risk for bond-like upside so probably not attractive to many here.
|
|
