ptr120
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Post by ptr120 on Aug 31, 2017 13:50:25 GMT
The loan is to partially fund the acquisition of 494 commercial trailers. The loan is secured against the purposed acquisition assets as well as all other assets held by the Company via a debenture.
The loan will be interest only and will pay the equivalent of 15% per annum to lenders.
Loan Details:
Amount: £300,000
Term: 3 months (3 months minimum term)
Rate: 15% - Interest Only
Security: Debenture over Company and the assets; current & future.
Underwriting: Upto £250,000
Instant Returns: Enabled
Loan Live: 4pm 31 August 2017
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macq
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Post by macq on Aug 31, 2017 14:17:27 GMT
Guess there will be about 10 seconds to do DD on this one before it goes(unless trailers is a posh word for containers)
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
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Post by ozboy on Aug 31, 2017 14:51:35 GMT
Yes, DD a Go Go. And I'm not smart enough to fathom this offering, what say you my more learned colleagues?
Is the Security"good" enough, given the despicable/woeful security "Valuations" with certain other platforms?
I do like the basic look look of the Loan, but by the very nature of the Assets I'd have there's a very high risk of pilfering?!!!!!
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DiQ
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Post by DiQ on Aug 31, 2017 15:01:36 GMT
16.02 now - did I miss it?
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james100
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Post by james100 on Aug 31, 2017 15:03:13 GMT
nearly
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ozboy
Member of DD Central
Mine's a Large One! (Snigger, snigger .......)
Posts: 3,156
Likes: 4,830
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Post by ozboy on Aug 31, 2017 15:20:01 GMT
I just fell off the fence, sometimes a man's gotta do wot a man's gotta do, so I've had a 1K dip. Mainly because it seems popular so I figure "Wot can possibly go wrong?"!!! 72.273% (how precision is that?!) Filled @ 16:19
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ptr120
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Post by ptr120 on Aug 31, 2017 15:38:58 GMT
There is a vague connection to the 5 year container loan so I'd have thought that ablrateandy knows the borrower fairly well.
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ktf
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Post by ktf on Aug 31, 2017 15:41:45 GMT
100% invested now.
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alanp
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Post by alanp on Aug 31, 2017 15:42:36 GMT
All GONE, had a small part of it as it looks a good LTV.
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rgog
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Post by rgog on Aug 31, 2017 15:42:51 GMT
Had to make a quick decision, the company income looks enough to pay the interest, the assets are of course mobile, but probably not that easily illicitly disposed of as they are used in the UK and the market is probably small enough to trace fairly easily. Shipping that number of great chunks of steel on wheels abroad would be noticeable The remaining question is not the value of the SSAP but what the legal hold Abl have on it? Not clear and I don't know enough to guess.
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Post by Butch Cassidy on Aug 31, 2017 15:43:42 GMT
There is a vague connection to the 5 year container loan so I'd have thought that ablrateandy knows the borrower fairly well. As long as that is the ONLY CONTAINER LOAN CONNECTION I will remain comfortable with it, albeit only for a short term period
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registerme
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Post by registerme on Aug 31, 2017 15:44:05 GMT
All gone by 1645.
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theshape
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Post by theshape on Aug 31, 2017 15:48:22 GMT
Spent so long messing about with Verified by Visa that I missed it. At least the IFISA is flexible. My Tesco card must be the only one that makes me jump through hoops.
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SteveT
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Post by SteveT on Aug 31, 2017 15:48:51 GMT
I just fell off the fence, sometimes a man's gotta do wot a man's gotta do, so I've had a 1K dip. Mainly because it seems popular so I figure "Wot can possibly go wrong?"!!!I remember that the Container loans filled within a minute or so ...
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Post by GSV3MIaC on Aug 31, 2017 16:07:52 GMT
I THOUGHT ablrate were going to apply some sort of bidding constraints .. being out most of today I didn't even see the announcement before it was all gone, never mind 'read the proposal'. Not impressed.
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