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Post by df on Mar 16, 2021 20:51:36 GMT
I really dislike secondary market now - can not find this loan on it - any particular reason I can not see it on ASMX please ?🙏 They are busy counting the money to make the interest payment presumably. Paused until that happens, but pressing the 'Status: Tradeable only' bit top left on AMSX will let you look longingly at it while you wait. I probably missed some info, does anyone know why 124 is tradeable and 120 is not?
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Post by Badly Drawn Stickman on Mar 16, 2021 20:57:06 GMT
They are busy counting the money to make the interest payment presumably. Paused until that happens, but pressing the 'Status: Tradeable only' bit top left on AMSX will let you look longingly at it while you wait. I probably missed some info, does anyone know why 124 is tradeable and 120 is not? Different interest dates, both were tradeable till today. (having been bought up to date)
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mw
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Post by mw on Mar 16, 2021 20:58:24 GMT
They are busy counting the money to make the interest payment presumably. Paused until that happens, but pressing the 'Status: Tradeable only' bit top left on AMSX will let you look longingly at it while you wait. I probably missed some info, does anyone know why 124 is tradeable and 120 is not? I'm guessing because there's a payment due today.. Unless its been untradable for a while?
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Post by df on Mar 16, 2021 21:24:43 GMT
I probably missed some info, does anyone know why 124 is tradeable and 120 is not? I'm guessing because there's a payment due today.. Unless its been untradable for a while? Both we tradable yesterday.
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blender
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Post by blender on Mar 16, 2021 21:45:07 GMT
I'm guessing because there's a payment due today.. Unless its been untradable for a while? Both we tradable yesterday. These are interest only loans, so they should still both be tradable. I say interest only, but I mean the interest which has not been capitalised.
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criston
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Post by criston on Mar 16, 2021 22:00:02 GMT
120 payment was due today, so it is currently yellowed up until the payment is made.
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Post by Badly Drawn Stickman on Mar 16, 2021 22:03:18 GMT
Both we tradable yesterday. These are interest only loans, so they should still both be tradable. I say interest only, but I mean the interest which has not been capitalised. A casual observer may easily think we are making incredibly hard work out of a simple explanation, I have an excuse I was multi tasking the rest of you should just hang your heads in shame. (that should divert attention from me starting the chaos)
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criston
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Post by criston on Mar 17, 2021 10:03:48 GMT
Payment made. Now tradeable.
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Balder
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Post by Balder on Jun 9, 2021 8:50:12 GMT
124 late payment and a string of excuses are these guys in trouble or do they just not give a  about paying to contract! |
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Post by spareapennyor2 on Jun 9, 2021 16:56:19 GMT
Email again , jam tomorrow we will see
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blender
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Post by blender on Jun 9, 2021 21:37:56 GMT
124 late payment and a string of excuses are these guys in trouble or do they just not give a about paying to contract! They've been in trouble for a long time. They just know that we have no option other than to take what little they can give.
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Post by Badly Drawn Stickman on Jun 10, 2021 7:25:37 GMT
124 late payment and a string of excuses are these guys in trouble or do they just not give a about paying to contract! They've been in trouble for a long time. They just know that we have no option other than to take what little they can give. I suspect it is more a case of people being slow paying them, possibly because 'people are being slow paying the people who are paying the people paying them. Life can be hard here at the top of the food chain. Its a well kept secret (unless you watch the news, read a paper or talk to anybody) but quite a lot of companies are 'in trouble' at the moment.
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blender
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Post by blender on Jun 10, 2021 9:54:59 GMT
This lot were in trouble before it became fashionable.
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criston
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Post by criston on Jun 10, 2021 13:50:08 GMT
Secondary market taking a hit.
Any bad news?
Edit. Was exchanging under 90%, but since improved.
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nick
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Post by nick on Jun 10, 2021 13:57:51 GMT
Secondary market taking a hit. Any bad news? Looks like holders of 124 lightening their positions after the most recent late payment scare. The fact that 120 is trading at a 5-6% premium on the same credit indicates that it is unlikely due to any company specific news. I've used the opportunity to sell 120 at 96% and buy 124 at 90%. Edit: criston thanks for the heads up - looks like the dip to below 90% was due to large sale that took out all the bids down to that level. The fact the price has bounced back up and the bid isn't being persistently being hit make it look like one or two people liquidating their positions. This loan was always high risk given the nature of the business plan - bulking up on engineering cos using a lot of debt, supported by a public listing, reminds me a bit of Melrose PLC which has been wildly successful doing this. Time will tell if they are successful and can grow fast enough to service the debt burden - covid certainty didn't help things. One positive is that they have continued to raise equity with 3 placings over Feb to May raising £430k - so some investors are still backing them despite the challenging conditions.
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about paying to contract!