Post by markdirac on Mar 10, 2016 18:54:21 GMT
I wonder if anyone would like to comment upon the security for this current loan? I have diddly-squat invested in FK, 'cos their rates are so low. But I decided to take a look at this loan. However, the security seems (to me) to be just too ambiguous:
2nd debenture
- who has the first debenture and what is it worth? (Probably Danske, for £475k, but not unambiguously so.)
- when a business hits trouble, the process of their assets evaporating begins there and then. Do FK regularly check on the value of assets, as do AC? Are there covenants that fixed assets must be maintained above a certain level, as with AC and perhaps TC? And what comprises the fixed assets here? In summary, can I be confident that the 2nd debenture has enough value to cover the loan + some, and that the fixed assets are sufficiently fixed that they cannot evaporate too quickly?
cross guarantee
- What is this worth? I could go and check out W******l H******s at Company Check, but I would have expected some information on FK's web pages about this guarantor.
- Is it a one-way guarantee? Or is our loan going to support the credibility of W******l H******s instead, as happened with a loan pulled from ReBS some months ago?
So, to me, the security is ambiguous and I am disappointed once again not to be diversifying intto FK. Am I missing anything please?
2nd debenture
- who has the first debenture and what is it worth? (Probably Danske, for £475k, but not unambiguously so.)
- when a business hits trouble, the process of their assets evaporating begins there and then. Do FK regularly check on the value of assets, as do AC? Are there covenants that fixed assets must be maintained above a certain level, as with AC and perhaps TC? And what comprises the fixed assets here? In summary, can I be confident that the 2nd debenture has enough value to cover the loan + some, and that the fixed assets are sufficiently fixed that they cannot evaporate too quickly?
cross guarantee
- What is this worth? I could go and check out W******l H******s at Company Check, but I would have expected some information on FK's web pages about this guarantor.
- Is it a one-way guarantee? Or is our loan going to support the credibility of W******l H******s instead, as happened with a loan pulled from ReBS some months ago?
So, to me, the security is ambiguous and I am disappointed once again not to be diversifying intto FK. Am I missing anything please?
), and some of the favourite ones are not sold here now because distillers' multi-national owners get a better price selling to USA and China. That's one reason why Glenlivet 12 is sold abroad but not here (lower taxes/duties), and Pernod Ricard have substituted an inferior mix with no age statement (at the same price) supposedly "Founders Reserve", which actually means most of the 12yr found is reserved for export, (and maybe a small proportion of it is actually used in the blue box FR disppointment).