djay
Member of DD Central
Posts: 121
Likes: 87
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Post by djay on Aug 6, 2021 10:36:48 GMT
There's been a lot of early redemptions recently, RAC and Mclaren today to add to pizza express, saga, punch taverns over the last month. I suppose money is currently cheaper for refinance.
Trouble is that it makes it risky to buy at a premium, so options for reinvestment are limited especially when I have enough exposure to the additional allocations made available on the platform ... Please WA no more Eros.
There was finally some more oak north added which I like the look of, hopefully they will add some paragon or something else of interest in the near future as there are scheduled redemptions due in the next few months otherwise I will need to start moving funds off the platform.
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Post by easterndreams on Aug 6, 2021 12:03:31 GMT
So true - we are in an 'everything bubble' right now! So hard to know where to park cash.
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Post by kazamx on Aug 7, 2021 9:16:29 GMT
We had a crazy run after the March collapse, but I guess when it just keeps going up it is great for existing holders, but not so much for new money.
Everything does seem very expensive at the moment, I am still reinvesting payouts, but have stopped adding new money for the time being.
The real problem is where the hell to put money, everything seems to be expensive at the moment.
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Nomad
Member of DD Central
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Likes: 513
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Post by Nomad on Aug 11, 2021 13:45:54 GMT
Very Group 7.75% is repaying; new Very issue is at 6.5%.
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Post by easterndreams on Aug 11, 2021 15:03:02 GMT
Very Group 7.75% is repaying; new Very issue is at 6.5%. Dammit there goes my cart horse
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Nomad
Member of DD Central
Posts: 755
Likes: 513
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Post by Nomad on Aug 16, 2021 9:05:47 GMT
Very Group 7.75% is repaying; new Very issue is at 6.5%. I placed my order last week at 6.5% YTM; today they say it's 6.32% YTM or I can cancel the order. Is this acceptable practice?
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djay
Member of DD Central
Posts: 121
Likes: 87
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Post by djay on Aug 16, 2021 9:54:11 GMT
Very Group 7.75% is repaying; new Very issue is at 6.5%. I placed my order last week at 6.5% YTM; today they say it's 6.32% YTM or I can cancel the order. Is this acceptable practice? In this case, I don't think it is acceptable. It's a new issue that we are in effect buying into and I expect WA bought into at the quoted issue rate. There should be no market rate effect on it in my opinion.
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Post by easterndreams on Aug 16, 2021 11:54:15 GMT
I placed my order last week at 6.5% YTM; today they say it's 6.32% YTM or I can cancel the order. Is this acceptable practice? In this case, I don't think it is acceptable. It's a new issue that we are in effect buying into and I expect WA bought into at the quoted issue rate. There should be no market rate effect on it in my opinion. Not sure that I agree with this... Would you be saying the same thing if prices had moved in the other direction? In that case, we would definitely expect WA to swallow the price differential for buying too early
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Jaydee
Member of DD Central
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Post by Jaydee on Aug 16, 2021 16:46:47 GMT
WA placed their order for the new bond last week and this would be at the issue price (par). They then asked us to buy at £100.20 and this would probably be WA's skin, giving them £400. I believe the additional 55p added to the purchase price is going to WA and gives them an initial uplift of £400 plus £1100.
I don't believe this is related to the press speculation over the weekend. WA obviously entered into a contract last week and this would be at the issue price.
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djay
Member of DD Central
Posts: 121
Likes: 87
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Post by djay on Aug 16, 2021 17:45:24 GMT
Aside from the issue of whether there is much worth investing further funds in, my confidence is begining to be eroded by the odd event here and there- this event with Very is one of them. The recent placing of further Eros at the height of their issues certainly raised my eyebrows.
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Post by easterndreams on Sept 20, 2021 22:58:11 GMT
Just Group 2024 called? Sad to see this one go, another cart horse for my portfolio
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Post by kazamx on Sept 29, 2021 19:13:47 GMT
Anyone else missing the good old days of April - Sept 2020. So many good deals on bonds back then.
Today, everything just seems so expensive. Clearly nothing WA can do about it, but the risk rewards on bonds just seems to be getting out of balance.
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Post by easterndreams on Sept 30, 2021 0:07:32 GMT
Very true
But I'm thinking this Evergrande muddle might give us some more bargains before too long
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Post by easterndreams on Oct 14, 2021 0:32:09 GMT
Bonds coming down from the highs a bit recently, hopefully the wave of redemptions might calm down a bit now...
Anyone spotted any on the horizon? I'm thinking the Virgin Money bonds might get called soon. Hopefully nothing else!
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