Comments

  • Not for me. Market cap below £100m, share price nearly havled since IPO, loss making and paying dividends (out of reclassified share premium). Its described as secured but I don't see anything other than a parent guarantee - am I missing something?

    IPF yield is now above 8% which to me makes 6.5% a bit cheeky.
  • beekey: agreed. Wouldn't be a bit surprised if this one is pulled.
  • where's lord oliver on this one
  • Afraid not my cup of tea
    1) Not sufficient Financial substance - Prefer Market value over £500m
    2) Political climate - Specifically Boris Johnson & the EU
    3) Little past history on AIM
    4) Property / Finance as an asset class not ideal - Just too risky
    5) Timing of issue at a point of great uncertainty!
  • Would it be similar to Lendinvest ? Not that its my cup of tea either in this part of cycle.
  • Is it of any significance that the bonds are "expected to be eligible for" the LSE's Order Book for Fixed Interest Securities rather than the Order Book for Retail Bonds? Presumably that will make them a little less liquid and/or is it to discourage the smaller investors? Just wondering!
  • which part of cycle is this?
  • hind: Lend Invest have been around for more than a decade. Track record broadly O.K. We have some of their bonds and have invested in about 20 of their short term facilities - around 5 have been repaid/prepaid with the rest on schedule. Doubtless there will be a default in due course but ….

    That said, I do watch their results for any warning signs.

    Urban simply doesn't have the same sort of track record and agree that their timing is probably not the best.
  • edited July 18
    https://urbanexposureplc.com/about-us/

    they seem to have been around for a while
  • dandigirl, thanks for the information
    arjungaur, I meant with property cycle turning down, probably all brexit related this time but still same effect
  • yeah, the whole economy is come to a stand still with brexit outcome being uncertain
  • With the offer closing around now-did anyone eventually go for these ? I decided against as i have some Lendinvest ( trading just under/on par ) and didn't want more exposure to this sector for now. Having said that if these new bonds trade at below par within a week/month or so does anyone feel they may be worth a punt and maybe just for the short term? I am thinking if I could buy at 0.95/0.97 to give a better overall yield i might be tempted for just a year or so ( just hope the bid/offer spread isn't too wide ! ).
    All views welcome.
  • as expected

    https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/UEX/14168540.html

    i put in minimum amount as founder guy seem to look ok, as nothing should change in a week/month, a punt would be a gamble with worse odds than that in a casino, it's hard enough to predict indices over 12 months, let alone try to time a small company's retail bond issuance
  • the reaction by equity holders has been similar to what we saw in ipf, the stock is down like 20% since the announcement, as you could imagine the financial pressure increases when a company takes on debt, resulting in management and employees being distracted, or worse taking on highly speculative projects in order to meet the high coupon and hoping/wishing to generate enough residual income for their own well-intentioned stock awards
  • arjunaur, thanks for your comments and the advice on the extension of the offer. I am going to apply for a small starter so maybe just 10,000 and see how things pan out and if they fall below par i will top up my position to average out the price. I certainly won't chase them at above par ! Glad someone else will join me on this one.
  • edited July 31
    averaging losers is usually not a good idea, 10k seems big ticket for uex1, why not 2k, i hope someone is doing due diligence, don't want all of us to jump in blind with the herd
  • One Im not going for but hope im proved wrong for those that do
  • what would be your definition of being proved wrong

    now days i feel pain, i know i am going to learn something new, it's great, though my struggling never becomes easier
  • Proved wrong not to apply for some........ would be it plods on around par +/- 5% and pays the 6.5% till 2026 and par is returned
  • edited August 1
    i think you'll be proved right, haha, if it actually gets off the ground
  • edited August 7
    as expected, haha

    https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/UEX/14178800.html

    look at that standard excuse 'due to adverse market conditions', why can't they be honest and just come out and say 'not enough interest' for their issue, at least then investors would learn to appreciate their integrity and might trust them with some of their capital in future when these 'adverse market conditions' are no more

    note the stock is unch, even though the equity is no longer getting subordinated by debt, no one trusts the management lacking integrity
  • edited August 7
    Sends a message that ORB weighs risk/reward to future issuers. To me this level of bond risk is best allocated, after DYOR, to others where the bad news has already appeared
  • Quelle surprise. Guess if it went ahead it would have traded below par for some time anyway . We really do need a quality issuance some time soon on ORB.
  • The bond was "expected to be eligible for the London Stock Exchange's electronic Order Book for Fixed Income Securities" not the Order Book for Retail Bonds. Whether that implied that it didn't meet certain requirements I don't know but would certainly have made it less tradeable.

  • edited August 7
    there is no bad news, there are just better alternatives.

    there are plenty of quality issuance, you just have to pay up for it.

    bonds are for coupons, you can trade stocks if you want to speculate.
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