|
|
Post by ablrate on Jun 11, 2021 11:53:45 GMT
Who said it was imminent? I would want people to get the wrong idea.
|
|
p2pfan
Member of DD Central
Full-Time Investor
Posts: 781 
Likes: 889
|
Post by p2pfan on Jun 11, 2021 13:32:18 GMT
I lot of Ablrate lenders are getting the heebie-jeebies about this loan and the bids and offers have plummeted in the secondary market. The share price is not doing well and they keep borrowing more and more money through capital raises. One wonders how on earth they will be able to repay the Ablrate loans in several months time. ablrate are you able to share some information about this borrower to stem many people's concerns over them? |
|
|
|
Post by Ace on Jun 11, 2021 13:38:09 GMT
I lot of Ablrate lenders are getting the heebie-jeebies about this loan and the bids and offers have plummeted in the secondary market. The share price is not doing well and they keep borrowing more and more money through capital raises. One wonders how on earth they will be able to repay the Ablrate loans in several months time. ablrate are you able to share some information about this borrower to stem many people's concerns over them? I share some concern, but to put it in perspective: 120 has been paying us 14% per annum for 2 years now and can be disposed of on the SM at about 4% below par. Still a 24% profit if one chooses to get out now.
|
|
|
|
Post by ablrate on Jun 11, 2021 15:41:58 GMT
I lot of Ablrate lenders are getting the heebie-jeebies about this loan and the bids and offers have plummeted in the secondary market. The share price is not doing well and they keep borrowing more and more money through capital raises. One wonders how on earth they will be able to repay the Ablrate loans in several months time. ablrate are you able to share some information about this borrower to stem many people's concerns over them? We are not worried about it. The management are good, honest people and we have every confidence they will perform.
|
|
TitoPuente
Member of DD Central
Posts: 624 
Likes: 655
|
Post by TitoPuente on Jun 14, 2021 14:20:28 GMT
I lot of Ablrate lenders are getting the heebie-jeebies about this loan and the bids and offers have plummeted in the secondary market. The share price is not doing well and they keep borrowing more and more money through capital raises. One wonders how on earth they will be able to repay the Ablrate loans in several months time. ablrate are you able to share some information about this borrower to stem many people's concerns over them? Just a clarification, the company has been issuing equity through capital raises, not borrowing.
|
|
Balder
Member of DD Central
Posts: 646
Likes: 622
|
Post by Balder on Jun 14, 2021 15:18:13 GMT
I lot of Ablrate lenders are getting the heebie-jeebies about this loan and the bids and offers have plummeted in the secondary market. The share price is not doing well and they keep borrowing more and more money through capital raises. One wonders how on earth they will be able to repay the Ablrate loans in several months time. ablrate are you able to share some information about this borrower to stem many people's concerns over them? We are not worried about it. The management are good, honest people and we have every confidence they will perform. You said that about Mr Sweeny.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 14, 2021 21:23:26 GMT
The people may perform well, but we need the business to perform. Not the same thing.
|
|
|
|
Post by Badly Drawn Stickman on Jun 15, 2021 6:40:45 GMT
The people may perform well, but we need the business to perform. Not the same thing. Was the purpose of the loan not to buy 'under-performing' businesses with 'potential' and extract that potential and create a synergy between them? Would it not then be realistic to accept that unfortunate World events may hinder that process for a while? If we had been lending to Real Madrid to buy Galácticos then disappointment would be very much the order of the day, we are lending to Brentford and should set expectations accordingly. (apologies to the footballing illiterate) I take my Ablrate with a modest pinch of salt, however in this case find their comments reassuring enough. Solid leadership is really mostly what is required here, honesty would be a rare bonus. If tomorrows payment and the ones going forward arrive in an acceptable time frame I am content to worry about the loan repaying at some point, at that point.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 15, 2021 7:39:15 GMT
My main concern was to point our that Ablrate's stated confidence was in the people, not in the result for lenders - just in case readers were equating the two.
I am the footballing illiterate - though ignoramus might be better. I risk saying that there is more to it than extending the length of the game from 90 mins to a fortnight.
|
|
|
|
Post by ablrate on Jun 15, 2021 10:15:50 GMT
My main concern was to point our that Ablrate's stated confidence was in the people, not in the result for lenders - just in case readers were equating the two. I am the footballing illiterate - though ignoramus might be better. I risk saying that there is more to it than extending the length of the game from 90 mins to a fortnight. Our main concern is always for lenders and a big part of that is the people involved with the borrower. Of course we have been discussing the exit for lenders and how this will be done. We have put them in touch with some of our network and speak with them regularly about the company's progress. There is never going to be much detail we can go into until something has happened, simply because of the exchange requirements for them to tell the market of any events first. We do not sit back as spectators on this loan, we actively seek to increase security and assist in the exit.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 16, 2021 12:21:50 GMT
My main concern was to point our that Ablrate's stated confidence was in the people, not in the result for lenders - just in case readers were equating the two. I am the footballing illiterate - though ignoramus might be better. I risk saying that there is more to it than extending the length of the game from 90 mins to a fortnight. Our main concern is always for lenders and a big part of that is the people involved with the borrower. Of course we have been discussing the exit for lenders and how this will be done. We have put them in touch with some of our network and speak with them regularly about the company's progress. There is never going to be much detail we can go into until something has happened, simply because of the exchange requirements for them to tell the market of any events first. We do not sit back as spectators on this loan, we actively seek to increase security and assist in the exit. That is 100% true, imo. No-one works harder than Ablrate to preserve lenders' capital. The problem is that on these and some other loans there is no practical alternative to supporting the borrowers as long as they wish, in that the value of the security shrinks if you try to realise it.
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Jun 16, 2021 12:31:55 GMT
So, 120 payment due today.
Lets see if the ear bashing we assume Ablrate has given them on behalf of us investors, works.
They should also be informed how it is knocking the secondary market for investors.
74 & 157 also due today.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Jun 16, 2021 13:55:35 GMT
I don't think we need worry about the interest payments. They announced on 11 June that they had raised another £100k from share issues. If they don't continue to pay the interest, having had the loan extended and the missed payments capitalised, then I would hope they would expect to have the plug pulled. I think VI is right that the worry is about the capital repayment, though I think he would be more worried without ASMX.
|
|
ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,330
Likes: 11,549
|
Post by ilmoro on Jun 16, 2021 17:27:44 GMT
So, 120 payment due today. Lets see if the ear bashing we assume Ablrate has given them on behalf of us investors, works. They should also be informed how it is knocking the secondary market for investors. 74 & 157 also due today. Partial payment made... admin note may allude to Knuckles & a baseball bat for the borrower to get the rest but that could just be my mind putting a spin on it 😁
|
|
criston
Member of DD Central
Posts: 1,204
Likes: 628
|
Post by criston on Jun 16, 2021 17:46:46 GMT
Yes, it appears Ablrate are getting as frustrated as investors.
£10,000 arrived instead of £14287
Secondary market on 124 in the 94% range.
I am disgusted with the way borrowers such as these could not give a stuff.
It seems to be a culture that is accepted more & more across various platforms.
|
|
