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Post by dan1 on Sept 4, 2017 11:43:48 GMT
This has just been "paused" on ABL. Please can you tell me why. I'm on mobile and can't hover over the loan!
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r00lish67
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Post by r00lish67 on Sept 4, 2017 11:50:03 GMT
slightly paraphrased "temporarily paused until we update the system to restrict offers that could incur losses for incoming buyers. Will trade again in 48hrs, will email to explain"
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fp
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Post by fp on Sept 4, 2017 11:55:11 GMT
I note some secondary market availability earlier was showing minus 20% return.....
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elliotn
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Post by elliotn on Sept 4, 2017 11:59:46 GMT
The Abl rate loan is only 4 months and refinancing via longer term debt was listed as the like exit so no real surprise, just the rate they are willing to accept. As a Abl lender, I believe the risk has reduced as they have raised additional funds and we are a preferential creditor. I'm not sure I do, but If I do have the right end of the stick, and you're suggesting that the FC financing will replace the majority of the Abl loan (?), then won't this 4 day old loan have been rather a waste of time/money for Abl and the borrower? Min 3 months' interest & additional 300k unsecured lender notified in borrowing proposal.
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snowmobile
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Post by snowmobile on Sept 4, 2017 12:03:08 GMT
The Abl rate loan is only 4 months and refinancing via longer term debt was listed as the like exit so no real surprise, just the rate they are willing to accept. As a Abl lender, I believe the risk has reduced as they have raised additional funds and we are a preferential creditor. I'm not sure I do, but If I do have the right end of the stick, and you're suggesting that the FC financing will replace the majority of the Abl loan (?), then won't this 4 day old loan have been rather a waste of time/money for Abl and the borrower? The loan details and the borrowing proposal (page 3) referred to a third party unsecured loan: "A third party loan has also been made available to the Company on an unsecured basis". I'm assuming the FC loan is this, rather than any longer term financing.
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elliotn
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Post by elliotn on Sept 4, 2017 12:03:12 GMT
They have just had a £216k E rated loan (5yrs @ 21.9%) listed at FC. Any security? EDIT: No asset security, but a PG. In the borrowing proposal there is mention of a further 300k 'unsecured' loan to complete acquisition.. Could be unrelated although didn't impinge on our all future asset debenture whilst bolstering co assets. Edit - crossed with snowmobile. Edit 2 - having seen FC details, it is their kind lenders providing the remainder of our security
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elliotn
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Post by elliotn on Sept 4, 2017 12:19:32 GMT
I note some secondary market availability earlier was showing minus 20% return..... Missed that...had been watching regularly and been refusing to accept par bids
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fp
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Post by fp on Sept 4, 2017 12:21:43 GMT
I note some secondary market availability earlier was showing minus 20% return..... Missed that...had been watching regularly and been refusing to accept par bids There were a few at 102-104%
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stub8535
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Post by stub8535 on Sept 4, 2017 14:14:24 GMT
I note some secondary market availability earlier was showing minus 20% return..... Ifisa playtime.
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fp
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Post by fp on Sept 4, 2017 14:45:02 GMT
I note some secondary market availability earlier was showing minus 20% return..... Ifisa playtime. Never thought of that, makes a little more sense now, but I don't think you can buy your own loans anyway?
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stub8535
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Post by stub8535 on Sept 4, 2017 14:51:08 GMT
Never thought of that, makes a little more sense now, but I don't think you can buy your own loans anyway? Nothing to stop you as long as there is fair chance somone else can also access it if quick enough. Not in the spirit of ifisa but its going on everywhere as platforms do not stop it.
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stub8535
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Post by stub8535 on Sept 4, 2017 14:53:13 GMT
You may see premiym of 20% going through for somone to make a taxable loss, along with a none taxable gain in their ifisa. It hapoened on fs at +- 5% before they acted to close the prem/ disc to 1%
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elliotn
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Post by elliotn on Sept 5, 2017 16:02:23 GMT
Hope fact these are uk distributor for the other unvailable loan is a matter to pause for thought only rather than portentous!
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stevio
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Post by stevio on Sept 5, 2017 17:12:49 GMT
This seems a little desperate by the borrower at this rate, but suppose same as borrowing on credit card...
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stevio
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Post by stevio on Sept 5, 2017 17:17:08 GMT
I note some secondary market availability earlier was showing minus 20% return..... Missed that...had been watching regularly and been refusing to accept par bids Thought it was limited to +/- 10%?
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