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Launch of 7.75 per cent. sterling notes due 2023

lse:ipf

#1

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/IPF/14077420.html


#2

I may buy the minimum for my income bucket.

Now available on ii’s IPO page.

DL


#3

@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


#4

Anything below an A rating you consider to have “risk”.
@Armageddon

There’s a detailed breakdown on moody’s site of the ratings https://www.moodys.com/

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:

https://www.lemonfool.co.uk// I’ll think you’ll need to create an account

http://www.fixedincomeinvestor.co.uk/x/forum.html you can read it without having an account.

Ther’s also been commentary on http://www.adventurousinvestor.com/
positive I believe. I think he also believes the equity is cheap.

And of course you can take a look on
https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00B1YKG049GBGBXSSMM.html?lang=en

You can also look at the LSE’s ORB https://www.lseg.com/markets-products-and-services/our-markets/london-stock-exchange/fixed-income-markets/retail-bonds 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 it!

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 https://www.wisealpha.com/market/ 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


#5

Thank you for this. Very interesting. Shall go through it all with a fine toothcomb later.


#6

Trading at 100.5 this morning.

https://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/company-summary/XS1998163148GBGBPUKCP.html