I don't like these double dates - expected & Legal
"The Bonds are expected to mature on 20 June 2026 with a final legal maturity on 20 June 2028." Provides greater uncertainty to the normal retail investor.
Therefore unlikely to participate
My Favourite Pref shares at the the present are the cumulative AV.A & RSAB
Both fairly safe with a reasonable yield
The Aviva saga gave a "good investment opportunity" to the Prefs market
The Prefs are held for long term income, and represent 22…
Totally agree with Beekay statement
Bonds tend to have a greater spread than Preference shares, thus in essence cancelling out the stamp duty cost of 0.5% advantage.
Trying to save on "Taxation", whether Stamp duty or otherwise tends to steer one in…
Fang, I would tend to agree with you, much depends on the length of the proposed bond (over 7 years is too long) and it's security (perhaps secured on the property assets).
Patience is a virtue!
"Banking Pals" - perhaps they may be off loading some…
Yes Colin, I believe one group sold their care home business for just £1
Lots of buying & Selling in past 2 years
Good result, well done Mark!
One possible outcome is that there is likely to be number of new retail investors investing in Prefs, thinking of the coupon rate only, thus reducing the yield.
In 3 or 4 months, could be worth reviewing whether to scale…
The following email has been sent to Mark Wilson
Would you or a colleague explain why you are not proposing to use the Prospectus Paragraph 7. Purchase Para (i) as the method to reduce the Company's Preference Share Capital?
It is t…
Current Bond has seen a drop in the past 3 months from 102.85 to 100.00, Why?
No new accounts to view (31/3/17). £1 Million loss
Didn't invest in the 1st bond
Borrowing money at 5%, when the banks have available very cheap BOE money (are they compet…
The Great Train Robbery was the robbery of £2.6 million from a Royal Mail train heading from Glasgow to London on the West Coast Main Line in the early hours of 8 August 1963,
This Robbery amounts to £304.7 million (market price valuation less par)
Shame I did't sell my Preference Share holdings at the same time I sold the long dated Bonds after Aviva's announcement last Thursday, planning to cancel their Pref shares at par!
I could have picked them up yesterday at bargain prices! However I k…
The Company Secretary has recently resigned (not long into the job)
Not a good sign, accounts still not published
PARKER, John Charles Moore
Ricoh Arena, Judds Lane, Longford, Coventry, England, CV6 6AQ
Most of the Preference Shares are starting to rise gently, therefore I suspect maybe a good opportunity to purchase at few at the low point. ELLA with their announcement has pushed their price back to what it was originally (or very close)
Also applies to GACA,
RNS News (GACA)
The Company is part of the Aviva group and Aviva owns 100% of the Company's ordinary issued share capital. In this context the Board has noted that in Aviva's 2017 results announcement on 8 March Aviva advised …
Thanks for the update, very surprised, just looking at the name AV.A AVIVA PLC 8 3/4% CUM IRRD PRF #1, suggest that they are not redeemable, so therefore surely they must be offering a "Tender" for the shares, which one could reject?
Look forward fo…
Sussexmade, good question re the proceeds
In the past month I have sold any longer dated (Beyond 2023) corporate bonds, in particular the Charity bonds, and thus increased my cash holding (concern over future inflation).
After the small market adju…
With the good news "for bond holders" perhaps this is "the time" to offload a proportion of one holdings?
Will be reviewing the price over the next few days and perhaps buy further when the next set of "bad news" comes in.
Could be a very bad decision - No accounts have yet been published, much later than the usual date. I don't own these bonds due to the high risk, not worth the coupon rate.
I too noticed that they had been edging up very gradually.
Their half year (…
Colin, I agree, I too have been monitoring what the banks have to offer in safe cash ISA's. Could be a safe haven for a couple of years during the impending storms.
Never felt safe in stormy weather in my kayak, especially those coming off the Atlan…
Fang, moving out of Prefs, Pibs and Corporate Bonds into Cash (or a cash ISA for my "Stocks & Shares ISA portfolio) has been on my mind, in particular for the undated securities.
However should interest rates go marginally up over a longer perio…
I suspect many investors are loathed to sell any of their "Fixed Income" portfolio, in particular UK Corporate bonds (orb), especially if they have a yield of around 5%.
Recent investments into "Alternative income" eg infrastructure funds (HICL, MX…