mikes1531
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Post by mikes1531 on Oct 5, 2015 22:09:55 GMT
This mornings message re upcoming #200 is not showing properly in Outlook. If anyone else has problems, you can read it all by clicking "reply". I can post it here if necessary. ed. Forget that: it's also on the loan page under "activity". What I can't understand about this update is AC asking lenders who don't like the proposed change to contact them. Can't we just 'vote' by simply withdrawing our bids? Or is this update directed solely at the underwriters?
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oldgrumpy
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Post by oldgrumpy on Oct 6, 2015 8:24:13 GMT
This mornings message re upcoming #200 is not showing properly in Outlook. If anyone else has problems, you can read it all by clicking "reply". I can post it here if necessary. ed. Forget that: it's also on the loan page under "activity". What I can't understand about this update is AC asking lenders who don't like the proposed change to contact them. Can't we just 'vote' by simply withdrawing our bids? Or is this update directed solely at the underwriters? It must be, Mike. We are not lenders before drawdown, so have no basis on which to vote.
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ilmoro
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'Wondering which of the bu***rs to blame, and watching for pigs on the wing.' - Pink Floyd
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Post by ilmoro on Oct 6, 2015 9:41:00 GMT
Drawdown alert
#205 drawing down today
Wonder if this is AH new faster legals in action
Also
#194 funds called yesterday
#203 withdrawn due to change in personal circumstances
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mikes1531
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Post by mikes1531 on Oct 6, 2015 11:26:26 GMT
Drawdown alert#205 drawing down today Wonder if this is AH new faster legals in action In addition to faster legals, it would appear that AC have dropped the requirement that underwriter funds be called prior to drawdown! (There's no indication that they have been called for on this loan.) Perhaps AC are funding the loan from their own working capital -- after all, they've raised £3M of equity recently -- and will request the underwriters' funds after drawdown? Or perhaps they have enough pre-bids for this one that they won't need any underwriters' funds at all? If they're allowed to use their own funds in this way, it could save them a lot of underwriters' fees. And it also could help speed up the drawdown process.
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niceguy37
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Post by niceguy37 on Oct 6, 2015 11:42:42 GMT
Drawdown alert#205 drawing down today Wonder if this is AH new faster legals in action In addition to faster legals, it would appear that AC have dropped the requirement that underwriter funds be called prior to drawdown! (There's no indication that they have been called for on this loan.) Perhaps AC are funding the loan from their own working capital -- after all, they've raised £3M of equity recently -- and will request the underwriters' funds after drawdown? Or perhaps they have enough pre-bids for this one that they won't need any underwriters' funds at all? If they're allowed to use their own funds in this way, it could save them a lot of underwriters' fees. And it also could help speed up the drawdown process. Maybe the loan is QAA-eligible so they know that the QAA will be able to fund the loan, perhaps in conjunction with pre-bids (although they'd need to check that there were funds in lenders' accounts to cover their pre-bids).
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Post by pepperpot on Oct 6, 2015 11:45:34 GMT
Drawdown alert#205 drawing down today Wonder if this is AH new faster legals in action In addition to faster legals, it would appear that AC have dropped the requirement that underwriter funds be called prior to drawdown! (There's no indication that they have been called for on this loan.) Perhaps AC are funding the loan from their own working capital -- after all, they've raised £3M of equity recently -- and will request the underwriters' funds after drawdown? Or perhaps they have enough pre-bids for this one that they won't need any underwriters' funds at all? If they're allowed to use their own funds in this way, it could save them a lot of underwriters' fees. And it also could help speed up the drawdown process. The loan appears to fit the criteria for GBBA, maybe QAA aswell? If so, the funds sat in QAA could be used to underwrite the loan if there is sufficient demand showing from pre-drawdown targets that are backed up with funds. Quite a neat circle really. Edit; drat, beaten to it... great minds think alike!! 
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SteveT
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Post by SteveT on Oct 6, 2015 12:12:39 GMT
Hmmm, penny drops!
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arbster
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Post by arbster on Oct 6, 2015 12:19:22 GMT
Yup, it's a bit like the pre-funding that SS have set up - helps them understand demand and underwriting requirements. Clever.
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Post by chris on Oct 6, 2015 12:38:44 GMT
In addition to faster legals, it would appear that AC have dropped the requirement that underwriter funds be called prior to drawdown! (There's no indication that they have been called for on this loan.) Perhaps AC are funding the loan from their own working capital -- after all, they've raised £3M of equity recently -- and will request the underwriters' funds after drawdown? Or perhaps they have enough pre-bids for this one that they won't need any underwriters' funds at all? If they're allowed to use their own funds in this way, it could save them a lot of underwriters' fees. And it also could help speed up the drawdown process. Maybe the loan is QAA-eligible so they know that the QAA will be able to fund the loan, perhaps in conjunction with pre-bids (although they'd need to check that there were funds in lenders' accounts to cover their pre-bids). I've checked with the admin team and they said "We only use the call for funds if there are some bids in a loan which have not already been settled. In this case there were no unsettled underwriter bids to call for hence no call for funds required." They've promised to always press the button to call for funds even when there are no bids to settle so that retail lenders get that indication that the loan is about to draw.
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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
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Post by ilmoro on Oct 6, 2015 12:41:03 GMT
So who's going to get a ticket & get their queued funds into the QAA in todays lottery! Total prize fund stands at £75k with a potential jackpot of £25k. Today we'll be using the machine called Chris. Andrew could you release the balls please! Dave if youd like to press the button. Good luck all |
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Post by chris on Oct 6, 2015 14:05:01 GMT
So who's going to get a ticket & get their queued funds into the QAA in todays lottery! Total prize fund stands at £75k with a potential jackpot of £25k. Today we'll be using the machine called Chris. Andrew could you release the balls please! Dave if youd like to press the button. Good luck all The queue is REALLY big so whilst every drawdown helps I doubt everyone is going to be happy. It's also unfair to say it's a lottery. There is a defined queue order that I hope to make visible soon.
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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: 11,334
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Post by ilmoro on Oct 6, 2015 14:14:45 GMT
So who's going to get a ticket & get their queued funds into the QAA in todays lottery! Total prize fund stands at £75k with a potential jackpot of £25k. Today we'll be using the machine called Chris. Andrew could you release the balls please! Dave if youd like to press the button. Good luck all The queue is REALLY big so whilst every drawdown helps I doubt everyone is going to be happy. It's also unfair to say it's a lottery. There is a defined queue order that I hope to make visible soon. Yes but as nobody currently knows where they are in the queue, nobody knows when their number in the queue will come up. Bit like a lottery ... Just trying to generate some excitement & razzamatazz around here.  Wondering about OG as the glamorous co-host and having the balls delivered by flying pig. Meanwhile in the real world Im off to the dump. Dont start without me Oh! Outfit matches his eyes 
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mikes1531
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Post by mikes1531 on Oct 6, 2015 14:27:54 GMT
Would anyone care to speculate what the maximum allocation for #205 will be?
I'll start by guessing £175.
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Post by yorkshireman on Oct 6, 2015 15:44:59 GMT
Would anyone care to speculate what the maximum allocation for #205 will be? I'll start by guessing £175. Would anyone care to bet on 205 actually drawing down today?
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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: 11,334
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Post by ilmoro on Oct 6, 2015 15:52:20 GMT
Would anyone care to speculate what the maximum allocation for #205 will be? I'll start by guessing £175. Would anyone care to bet on 205 actually drawing down today? It better, Grumps has put on his best frock specially
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