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Post by easterndreams on Aug 4, 2020 23:01:31 GMT
AA just paid their coupon, and debt has been rated up from 90 to 95, resulting in terrific capital gains as well.
I've been holding quite a chunk of this one (and RAC) for several years now hoping for this 'pull-to-par' upwards move, and the patience has finally paid off!
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AA Bonds
Aug 4, 2020 23:11:04 GMT
via mobile
Post by easterndreams on Aug 4, 2020 23:11:04 GMT
Strike that, now it's 96!
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AA Bonds
Aug 17, 2020 8:53:05 GMT
via mobile
Post by easterndreams on Aug 17, 2020 8:53:05 GMT
97 now, these bonds are steadily climbing back to par, which is more than I can say for the FTSE!
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Jaydee
Member of DD Central
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Post by Jaydee on Aug 31, 2020 9:05:09 GMT
Any thoughts on what the Statement might say tomorrow? Are these bonds as safe as we think in view of the predators circling? Can / will they buy the bonds cheaply by depressing the market in order to get control of AA?
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AA Bonds
Sept 1, 2020 23:39:07 GMT
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Post by easterndreams on Sept 1, 2020 23:39:07 GMT
That is a different issuance
Ours are 2022 expiry
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bababill
Member of DD Central
Posts: 529 
Likes: 245
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Post by bababill on Sept 28, 2020 3:12:04 GMT
In yesterdays Daily Telegraph
......
“We believe the AA could be worth more to the PE buyers than it is to the AA itself. We expect a PE buyer would restructure the debt and decrease the overall interest costs, translating into even higher free cash flows than the AA would earn independently.
“A typical private equity buyer will potentially be able to do things with the debt that the AA currently cannot do. If you have a well-heeled buyer come in and negotiate with debt holders, then I would expect them to bring some skills to this, and that is part of the attraction.”
.....
"Waiting in the wings is Wall Street buyout colossus Apollo, understood to be interested in providing a solution to the AA’s debt headache. Any investment from Apollo would likely come at a cost, sources say. A complex investment strategy that could lead to a debt-for-equity swap could well be on the cards, through one of the US firm’s hybrid funds."
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AA Bonds
Sept 28, 2020 9:43:55 GMT
via mobile
Post by easterndreams on Sept 28, 2020 9:43:55 GMT
Do NOT like the sound of that!
Hopefully it can be strung out until the 2022 issuance is paid down!!
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bababill
Member of DD Central
Posts: 529
Likes: 245
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Post by bababill on Oct 2, 2020 0:26:48 GMT
me neither! but the company is profit making so I am still struggling to even fathom the nightmare scenario.
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AA Bonds
Nov 23, 2020 8:57:21 GMT
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Post by easterndreams on Nov 23, 2020 8:57:21 GMT
AA bonds just jumped to near par! Hope no-one is hurting now?
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Post by kazamx on Nov 24, 2020 18:23:11 GMT
AA bonds just jumped to near par! Hope no-one is hurting now? Its nice seeing AA in green :-)
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Post by easterndreams on Nov 25, 2020 0:25:58 GMT
They are now greyed out for purchase despite £10k being available, and I'm seeing new news on the update feed... I have a feeling we are about to get taken out of this position at par! £££££
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AA Bonds
Mar 10, 2021 8:23:27 GMT
via mobile
Post by easterndreams on Mar 10, 2021 8:23:27 GMT
AA has an unannounced interest payment coming - I guess this means they have called them at par, expecting to receive the capital back shortly!
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Nomad
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Post by Nomad on Mar 10, 2021 9:11:32 GMT
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Post by easterndreams on Mar 10, 2021 23:31:16 GMT
Hello Nomad! So happy to have another poster at last, I have been shouting into the void for months! What are your top picks on WA at the moment?
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Nomad
Member of DD Central
Posts: 755
Likes: 513
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Post by Nomad on Mar 11, 2021 8:11:23 GMT
Hello Nomad! So happy to have another poster at last, I have been shouting into the void for months! What are your top picks on WA at the moment? My largest holdings are in WA Bonds (seldom available), Atalian, Very Group, Domestic & General, Shawbrook Bank, and Virgin Money. I'm planning to add Lowell (Garfunkelux) and 2 Sisters Food Group. Not advice!
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