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Post by Ace on Oct 25, 2021 18:06:50 GMT
It really doesn't matter for this loan, since they've now received funds to repay in full, but, can anyone educate me on why the capital valuation was below 100%? This was even the case when 90% of the loan had been repaid and the security was over £7m of stock with an LTV of 5%. Surely the capital valuation should have increased each month for the past 10 months as 10% of the outstanding capital and full penalty interest was being repaid each month. I'm obviously missing something. Dont think AC ever revisited the capital valuation from when it was reduced to reflect the impact on retail from the pandemic, the granting of forbearance, protracted refinancing and lack of the required stock valuations. I think you're right. Seems rather shoddy of AC not to have reassessed at some point. I wonder if anyone sold down this loan and possibly others on the basis of a capital valuation that is out of date. I was content to take the risk of buying this one when it's reorganisation took place, but as the loan was heavily reduced via amortisation for the last 10 months it looked to be increasingly a no-brainer. I picked up several small allocations, sometimes even at a discount, when the capital valuation looked to be out of date.
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Post by df on Oct 25, 2021 18:11:10 GMT
Update say's money is in; loan completely redeemed. This was my largest, and by far my most profitable, loan on AC. I will miss it greatly 😢 It was a good one for me. About 5 years of high interest and hardly any drama. I wish I had a larger amount in it, but it also pays off to be careful  I've sold my part 2 months ago just to be on a safer side, but it's good to know that whoever bought it from me won't regret it
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dave4
Member of DD Central
Cynical is a hobby not a lifestyle
Posts: 1,056
Likes: 616
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Post by dave4 on Oct 25, 2021 18:19:07 GMT
That may have been me. Thank you |
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Post by df on Oct 25, 2021 18:50:26 GMT
Dont think AC ever revisited the capital valuation from when it was reduced to reflect the impact on retail from the pandemic, the granting of forbearance, protracted refinancing and lack of the required stock valuations. I think you're right. Seems rather shoddy of AC not to have reassessed at some point. I wonder if anyone sold down this loan and possibly others on the basis of a capital valuation that is out of date. I was content to take the risk of buying this one when it's reorganisation took place, but as the loan was heavily reduced via amortisation for the last 10 months it looked to be increasingly a no-brainer. I picked up several small allocations, sometimes even at a discount, when the capital valuation looked to be out of date. AC is not on the top of the updates, for example 855 "A further update will be provided by no later than 28th May 2021" still hasn't realised...
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ilmoro
Member of DD Central
'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
Posts: 11,315 
Likes: 11,523
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Post by ilmoro on Oct 26, 2021 13:12:46 GMT
I think you're right. Seems rather shoddy of AC not to have reassessed at some point. I wonder if anyone sold down this loan and possibly others on the basis of a capital valuation that is out of date. I was content to take the risk of buying this one when it's reorganisation took place, but as the loan was heavily reduced via amortisation for the last 10 months it looked to be increasingly a no-brainer. I picked up several small allocations, sometimes even at a discount, when the capital valuation looked to be out of date. AC is not on the top of the updates, for example 855 "A further update will be provided by no later than 28th May 2021" still hasn't realised... Dont know what you are talking about - next update is due 11 Nov  As if by magic the shopkeeper appeared.
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I've sold my part 2 months ago just to be on a safer side, but it's good to know that whoever bought it from me won't regret it 
