ptr120
Member of DD Central
Posts: 1,199
Likes: 1,346
|
Post by ptr120 on Aug 3, 2016 14:03:55 GMT
Tum-ti-tum, tum-ti-tum. If Albrate would allow the £1.8m of 532 to be offered on the SM, as they said would be the case, then perhaps the odd £100k would be found to support the new MTF, which is only at two thirds of the minimum amount with a day to run. I suppose there is a problem in that 532 has been extended for two months, though the sale is expected in August. I am assuming it will not be allowed to be paid off early - which is not general Ablrate practice and could affect buyers who might pay a premium on the SM. I believe they are back in court today for the container loan so I'm prepared to give them (a little) extra time. You make a good point about one of the directors being common though.
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 3, 2016 20:56:58 GMT
Thanks for the info, ptr120. They tell me nothing about the container loan, but I hope it works out OK for lenders. But they should be set up to service all the loans as necessary, not strictly one at a time, and 532 lenders are due a resolution. It does represent 20% of all loan money ever advanced through Ablrate.
|
|
|
Post by ablrate on Aug 4, 2016 14:59:16 GMT
Thanks for the info, ptr120. They tell me nothing about the container loan, but I hope it works out OK for lenders. But they should be set up to service all the loans as necessary, not strictly one at a time, and 532 lenders are due a resolution. It does represent 20% of all loan money ever advanced through Ablrate. Hi Sorry for late responses. Ref the penalty interest - we will have an update on this shortly for holders and we will let you all know. Ref one of the directors being a director of ABL. He is a non-exec and is on the Board from a standpoint that his father was a shareholder but sadly passed away. His mother is now the shareholder and we offered a non-exec position for him to be able to manage his mothers interest within the company relating to shares etc. The potential conflict is something we have procedures on where anything related to P****** he is required to recuse himself from any decisions within ABL relating to his company. Regards Ablrate
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 4, 2016 15:14:29 GMT
The non-exec Ablrate director/ owner of Pheonix is the borrower of about £3.5M of the current approx £8M loans on Ablrate. Actually I do not have a problem with that, except that with such a close relationship the new interest rate should have been agreed before the extension, rather than while the extension is in progress. Also, I was not expecting penalty interest and would rather have the loan live at 13% than be waiting for the agreement. In any case the borrower has a full two months to pay and may sell in August, which is a sort of penalty. Others will have different opinions. I appreciate the urgent work needed on containers and note that the lenders there seem well pleased with Ablrate's approach and action.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Aug 7, 2016 10:16:03 GMT
ablrate ablrateandy with regards email offering invest some of ATR 532 into MTF, why can't a) new MTF loan be offered at the time of ATR 532 redeeming? b) MTF loans in general have a longer bidding time?
|
|
|
Post by ablrateandy on Aug 7, 2016 10:30:28 GMT
MTF are pretty much done on funding for the year as things stand, so they want a degree of speed and certainty. Waiting for532 money is a bit of a favour from them.
|
|
gt94sss2
Member of DD Central
Posts: 281
Likes: 137
|
Post by gt94sss2 on Aug 7, 2016 12:17:20 GMT
I am perhaps being fussy but could ablrate update the maturity date shown for this loan on the platform to reflect the extension?
|
|
blender
Member of DD Central
Posts: 5,719
Likes: 4,272
|
Post by blender on Aug 8, 2016 6:54:35 GMT
I am perhaps being fussy but could ablrate update the maturity date shown for this loan on the platform to reflect the extension? That's not fussy at all. Ablrate please confirm that the extension is a fixed two months - that is, not to be paid off early without the full interest.
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Aug 8, 2016 6:55:14 GMT
MTF are pretty much done on funding for the year as things stand, so they want a degree of speed and certainty. Waiting for532 money is a bit of a favour from them. Thanks for the explanation The car loans seems to be even further off the amount they were looking for (approx £300k with a maximum of £750k) and I appreciate there is still 2wks to go. Should this not reach it's full potential, would you look to speak to the borrower and potentially offer a similar scenario there?
|
|
ptr120
Member of DD Central
Posts: 1,199
Likes: 1,346
|
Post by ptr120 on Aug 11, 2016 8:37:15 GMT
ablrateandy could we have an update on this one please? I'd have hoped that the close relationship with the borrower would have ment the penalty interest rate would have been agreed by now. Could we also have confirmation that 2 months interest will be paid even if the aircraft is sold within the first month of this second extension?
|
|
|
Post by ablrate on Aug 11, 2016 16:06:21 GMT
ablrateandy could we have an update on this one please? I'd have hoped that the close relationship with the borrower would have ment the penalty interest rate would have been agreed by now. Could we also have confirmation that 2 months interest will be paid even if the aircraft is sold within the first month of this second extension? Hi ptr120 We will be giving and update shortly on penalty rates and resuming of trading on the SM. I can confirm that the full interest will be paid regardless of the timing of the sale, which we hope to be sooner rather than later. Regards Ablrate
|
|
Balder
Member of DD Central
Posts: 643
Likes: 618
|
Post by Balder on Aug 15, 2016 9:51:51 GMT
ablrateandy could we have an update on this one please? I'd have hoped that the close relationship with the borrower would have ment the penalty interest rate would have been agreed by now. Could we also have confirmation that 2 months interest will be paid even if the aircraft is sold within the first month of this second extension? Hi ptr120 We will be giving and update shortly on penalty rates and resuming of trading on the SM. I can confirm that the full interest will be paid regardless of the timing of the sale, which we hope to be sooner rather than later. Regards Ablrate Hi ablrate can you define shortly?
|
|
stevio
Member of DD Central
Posts: 2,065
Likes: 894
|
Post by stevio on Aug 16, 2016 8:13:25 GMT
ablrateandy could we have an update on this one please? I'd have hoped that the close relationship with the borrower would have ment the penalty interest rate would have been agreed by now. Could we also have confirmation that 2 months interest will be paid even if the aircraft is sold within the first month of this second extension? Hi ptr120 We will be giving and update shortly on penalty rates and resuming of trading on the SM. I can confirm that the full interest will be paid regardless of the timing of the sale, which we hope to be sooner rather than later. Regards Ablrate Any update?
|
|
|
Post by ablrate on Aug 16, 2016 15:05:03 GMT
Hi ptr120 We will be giving and update shortly on penalty rates and resuming of trading on the SM. I can confirm that the full interest will be paid regardless of the timing of the sale, which we hope to be sooner rather than later. Regards Ablrate Any update? Hi All I spoke with them today and we are awaiting some information that will enable us to give a full update to lenders. I am expecting to get that information tomorrow. We will also conclude the penalty interest issue and get a definative out to you all. Regards Ablrate
|
|
goopy
Member of DD Central
Posts: 307
Likes: 144
|
Post by goopy on Aug 18, 2016 11:04:40 GMT
|
|