International Personal Finance Live Discussion

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devonplay 12 Jun 2019

Launch of 7.75 per cent. sterling notes due 2023 Trading at 100.5 this morning. [link]

Armageddon 07 Jun 2019

Launch of 7.75 per cent. sterling notes due 2023 Thank you for this. Very interesting. Shall go through it all with a fine toothcomb later.

devonplay 07 Jun 2019

Launch of 7.75 per cent. sterling notes due 2023 Anything below an A rating you consider to have “risk”. There’s a detailed breakdown on moody’s site of the ratings [link] This rating would suggest there’s commercial risk, but I believe they’ve recently had an upgrade. You’ll find there was a considerable amount of discussion about this bond on: [link] I’ll think you’ll need to create an account [link] you can read it without having an account. Ther’s also been commentary on [link] positive I believe. I think he also believes the equity is cheap. And of course you can take a look on [link] You can also look at the LSE’s ORB [link] it;s not the most exciting of places! As it happens I moved cash to my ISA to subscribe to the IPO yesterday, but was late getting to ii’s IPO page and couldn’t register. So I’ve missed I believe the view is it will go to a premium on float, but it’s not something you can expect to “stag”. I may have a look and see what happens on the day if I remember. Overall, risk if different for everywhere, one you’ve taken the rating in to consideration, but overall i was happy with the way it would have fitted into my portfolio. Saying that, I’ve bought much more “junk” rated stuff recently via [link] as t allows me to do that in 100’s, rather than 1000’s. with them you have to add the potential of platform risk. With the cash I’d put aside for this I’m likelly to buy NRR, LBOW & IMB, so that might give you some idea of my taste for diversified risk. DL

Armageddon 06 Jun 2019

Launch of 7.75 per cent. sterling notes due 2023 @devonplay Very nice indeed. Moody Ba3 rating. Can you simplify that for me? On a scale of 1 to 10, what’s the risk level? (10 being super high risk ). If it’s not above 6 il bang into a few myself

devonplay 06 Jun 2019

Launch of 7.75 per cent. sterling notes due 2023 I may buy the minimum for my income bucket. DL

devonplay 18 May 2019

Launch of 7.75 per cent. sterling notes due 2023 [link]

devonplay 18 May 2019

AGM So @dandigirl & @dandigirl on the off chance you are still on the site, are considering buying the recently anounced 7.75 per cent. Sterling notes due 2023. [link] DL

Jack_Walsh 05 May 2018

Re: AGM I take your point; although, it is clearly their MO to buback shares. The number in issue has fallen every year since at least 2010 (this year excepted, perhaps hence the AGM decision).I just hope they know what they are doing!

dandigirl 04 May 2018

AGM As a retail bond holder, I am a bit concerned that one of the resolutions passed at the AGM was to allow the purchase of their own shares. Debt exceeds Equity. IPF have a lot of debt falling due in the next couple of years including £100m of retail bonds in 2020. I hope the Board don't do anything silly. One to watch, I think.

dandigirl 01 Mar 2018

Re: Results tomorrow .....and I will continue to hold the bonds, and may buy some more as funds become available.

Jack_Walsh 01 Mar 2018

Re: Results tomorrow A fair assessment.I'll certainly continue to hold.

dandigirl 01 Mar 2018

Re: Results tomorrow So far, so good. No big alarms, it seems, but lots of tax, accounting and regulatory uncertainty. Seem that capital and banking/funding are being handled o.k. Repayments are being replaced with new facilities. That said, as maturities do not go beyond 20/21 there appears to be a need for some term funding. Doubt if that would be available via a retail bond now. In short, IPF is treading water.

dandigirl 28 Feb 2018

Re: Results tomorrow .... as a retail bond holder.

Jack_Walsh 28 Feb 2018

Results tomorrow Fingers crossed.

Jack_Walsh 18 Oct 2017

Re: Results Not for a while, I don't reckon.Polish tax thing was a bit of a drag - but these setbacks are to be expected once in a while. Most of the recent blows have been largely anticipated, so perhaps there are still legs on this share!Still looks OK value, to me, at these levels.I'll keep holding.