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Post by Badly Drawn Stickman on Dec 23, 2020 14:57:23 GMT
There did seem to be confusion (which Ablrate could easily have clarified) logically nobody would have been buying at a premium on 149 whilst this was still unfilled. Yet clearly (and I thank them) people were.
The penny seems to have dropped now.
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blender
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Post by blender on Dec 23, 2020 16:30:57 GMT
They never change historical proposals - just add addenda. It is difficult to argue that something was not stated but has now been changed, or must not be changed. It is obvious that the tranches would be pari passu, though it should have been stated. How else could you add a tranche at any sensible interest rate? However, if any comfort, the pari passu must be limited £2M through Ablrate, including any underwriting, IMO. If a question here is not answered and is important, I think it is best to raise formally through customer services. This is not a formal channel. It could be because the question here & the new loans thread, that the phrasing has changed in loan 151. It would have also been helpful if they could have answered if the eventual new or old 1st Charge, is amortising as well. I have looked through 149 and agree that it should have been made explicit that all tranches within the £2M would be pari passu on the same security. Careful use of the terms loan and tranche would also help, in that 149 and 151 are both tranches of a loan, rather than loans. Or they could speak of a facility of linked loans. But they do say that the tranches share the same security, which to me implies para passu. How else could you raise the total? Yes it would be good to know the terms of the larger loan. I assume it is amortising but over a longer period.
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Post by Ace on Dec 23, 2020 20:22:52 GMT
All gone now. Another tranche will be along soon.
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blender
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Post by blender on Dec 23, 2020 20:35:07 GMT
Not before the New Year I hope. I would like some instant returns please before this draws down. I guess they would have expected it to last rather longer.
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Post by Badly Drawn Stickman on Dec 23, 2020 22:30:49 GMT
All gone now. Another tranche will be along soon. Yes looks like I called it exactly right. Ok yes it could be argued I had technically covered every possible outcome
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Post by Badly Drawn Stickman on Dec 23, 2020 22:35:28 GMT
Not before the New Year I hope. I would like some instant returns please before this draws down. I guess they would have expected it to last rather longer. I lay the blame firmly at your door (or whatever entrance/exit facility misshapen multicolored frogs use for property access and exit)
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blender
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Post by blender on Dec 24, 2020 9:29:54 GMT
Not before the New Year I hope. I would like some instant returns please before this draws down. I guess they would have expected it to last rather longer. I lay the blame firmly at your door (or whatever entrance/exit facility misshapen multicolored frogs use for property access and exit) We chameleons prefer the word portal because our entrances/exits between zones are rather more subtle than human doors - or chimneys. As it is Xmas I have decided not to report your post under rule one (must be in English, not American) because I would not like to think of you being banished to the deserted village of the Franks.
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Post by Badly Drawn Stickman on Dec 24, 2020 13:01:33 GMT
I lay the blame firmly at your door (or whatever entrance/exit facility misshapen multicolored frogs use for property access and exit) We chameleons prefer the word portal because our entrances/exits between zones are rather more subtle than human doors - or chimneys. As it is Xmas I have decided not to report your post under rule one (must be in English, not American) because I would not like to think of you being banished to the deserted village of the Franks.
I had somewhat forgotten about exile island, a quick drone fly by suggests a bit like on Mars people are now mainly living underground. On the plus side despite the damage you caused in creating a 'gold rush' to this loan, it looks very unlikely to go anywhere before the 5th January now. That sits well with my evil master plan. The Americanism is a simple oversite easily explained. I am writing a childrens book about a frog who thinks he is a Tegu trying to enter America illegally via Florida. Entertainment with a moral message. (three words in that are underlined in red, enjoy)
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blender
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Post by blender on Dec 24, 2020 15:42:39 GMT
I don't think I caused anything. The power of the forum is more negative than positive, in that we can more easily stop people investing than cause them to invest where they would not otherwise. Holders of 149 would not be well served by a slow take up of 151, which would depress the SM and line up bigger problems for the next tranche. The success of 149 (eventually) drove the success of 151 and so on. We should all be happy. Frogs, tegus, - uninspiring. A story about a magical colour-changing chameleon from one of the ovoviviparous species would more easily attract a publisher. She could build a rocket to the moon to rescue Frank from the Selenites. (Mars a bit far-fetched).
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criston
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Post by criston on Jan 2, 2021 9:02:53 GMT
It could be because the question here & the new loans thread, that the phrasing has changed in loan 151. It would have also been helpful if they could have answered if the eventual new or old 1st Charge, is amortising as well. I have looked through 149 and agree that it should have been made explicit that all tranches within the £2M would be pari passu on the same security. Careful use of the terms loan and tranche would also help, in that 149 and 151 are both tranches of a loan, rather than loans. Or they could speak of a facility of linked loans. But they do say that the tranches share the same security, which to me implies para passu. How else could you raise the total? Yes it would be good to know the terms of the larger loan. I assume it is amortising but over a longer period.
Ablrate say the existing first charge loan is interest only & the terms have not yet been agreed on the proposed replacement first charge loan.
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ptr120
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Post by ptr120 on Jan 12, 2021 11:32:07 GMT
I see that another tranche is being offered. I wonder if it is such a great opportunity while the borrower is receiving a repayment holiday on another project?
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criston
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Post by criston on Jan 12, 2021 11:45:36 GMT
• Borrower Sector: Property / Leisure • Loan Tranche Amount: £1,000,000. • Term: 48 months (12 months minimum term). • Rate: 15% - Amortising. • Security: Second Ranking Legal Charges, Company Debentures, Corporate Guarantees, Personal Guarantee. Loan 137 to be repaid from this. (debate currently going on about rollover?) Currently the queen is in the middle, I will just shuffle the three cards around a bit, then you tell me where she is. VI. Any chance of changing the title of this thread to include 151/152
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Post by ladywhitenap on Jan 12, 2021 11:54:35 GMT
I see that another tranche is being offered. I wonder if it is such a great opportunity while the borrower is receiving a repayment holiday on another project? You must be aware that AF has a multiplicity of businesses on here some of which have income streams affected by covid and others that are not. It would be very poor practise indeed to be cross subsidising between businesses so some are deserving of revised terms and others continue to pay regularly and on time. AF is arguably ABL's best borrower in terms of reliability. So yes I believe it is a great opportunity and whilst many businessmen are wringing their hands in the current climate, AF has the foresight to be forging ahead in readiness for the recovery that will come in time. LW PS ablrate It is a crying shame that the repayments from the borrower who uses an incompetant bank are not being collected enthusiastically then I would have more to invest in this loan!
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brush
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Post by brush on Jan 12, 2021 12:39:14 GMT
Hello again Milady, presume you were notified by email regarding 152. Missed me again if so Emailed them to alert me but alas not forth coming.
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Post by df on Jan 12, 2021 12:58:57 GMT
Hello again Milady, presume you were notified by email regarding 152. Missed me again if so Emailed them to alert me but alas not forth coming. Loan 152 Loan Tranche Amount: £250,000. Term: 48 months (12 months minimum term). Rate: 15% - Amortising. Security: Second Ranking Legal Charges, Company Debentures, Corporate Guarantees, Personal Guarantee. Instant Returns: Enabled. Loan Launch: 11am – 14th January 2021 (READ ONLY). Loan Live: 2pm – 14th January 2021 Proceeds of this loan will be used to continue the development of the site in Lanarkshire, Scotland.
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