I just noticed the Matalan bond is now locked and can't be put up for sale either.
I think I remember some talk back in the middle of last year about Matalan replacing existing bonds with new bonds. I will go find details.
Matalan's £330m 5NC2 first lien secured note, rated B2/B- is being whispered unofficially at high 6s/low 7s, while the £150m 6NC3 second lien secured note, rated Caa2/CCC, is being whispered in the high 9s/low 10s, according to two investors.
New Look’s bonds plummeting by up to six points from Friday’s close after reports over the weekend that credit insurers have halted the sale of credit insurance on new shipments to its suppliers, while House of Fraser’s £175m 2020 FRN lost over nine points on the back of news that it is renegotiating its rents.
Debenhams, on the other hand, lost its Double B rating from Moody’s after downgrading its profit forecast last week, but the fall of its £200m 5.25% 2021 note was more modest, at just under two points
I have found myself moving more money into WiseAlpha. I like the idea of lending to larger more stable companies and still getting better returns than with Ratesetter. I get an average of 6.1 % after fees and I am avoiding the companies that feel very risky.
Been doing this for about a year and it's all going well so far. Your milage may very though
Some of us were supposed to have the fees waived on bonds purchased, never had any refund of fees, anyone else had their fees returned? seem to recall it was on purchases before end nov/dec 2016.
The failure of the platform to honour this has meant I curtailed any further investment. I shouldn't have to be writing in to complain...
Did you get charged the fees? I know the site may show fees accruing but when the interest payment was paid did they actually take the fees from you? If you go to My Account - Reporting - and then scroll down you can see what fees have been charged for each loan you have. If you look for one you bought during the fee-free offer does it say you paid fees?
They normally remove the fees out of the interest earned. If you got th full interest earned without a deduction you didn't pay fees.
When you choose to reinvest the interest you earn, WiseAlpha will use it to buy up a little more of the bond they have in reserve or that's still on the market. However, if they no longer have any in reserve and the market is empty then it goes back into your holding account.
Even though you have less than £100, you can use this money (lets say £20) to add to any other bond you currently own. So if you already have £100 in RAC you can add another £20 to RAC. You can't put the £20 into a bond you don't already own though.
Macq explained it to me awhile ago when I had the same problem.
i feel Perpetual bonds will need a lot of trust in the long term plans of the platform (admittedly always important for any platform) and hopefully a SM due to their structure
Don't we already have an SM? I have only got rid of one bond so far. I clicked sell and the money was back in my holding account within about 10 min. Granted it was a small sum and it may take longer if you tried to cash out a large sum all at once.
Always nice to be in pubs Just wondering have we seen the last of the 6-8% & also the Libor plus bonds? And is your Euro launch that you have mentioned a couple of times to do with bonds that will be offered to us on the UK site or is it a site aimed at the European market only?
macq I'm guessing you already have a piece of this but Pizza Express just came back up again. Looks like WiseAlpha picked up another £100k
Early withdrawal is at our discretion and we cannot guarantee that you will always be able to access your money although we will always try our best for you. This is because the loans and bonds we invest your money in are long-term investments and it may not always possible to sell them immediately to free up funds to redeem your bond. In the event that we do redeem your bond the you will also incur a cost. The ultimate annual interest rate you earn will be reduced to reflect the amount of time you actually ended up investing for and the rate that was applicable at the time you invested (for example, if you invested for a five year term but withdrew after a year, our system works out what you would have got had you invested for a year at the time of purchase and this is what you receive).
In addition, there is an Early Redemption charge of 2.50%.
To see what your final capital and interest returns would be in the event of confirming an early withdrawal you can click the cash-out button which will clearly layout the associated charges for withdrawing early before you confirm the cashout.
I was going to dump money into the 7 year bond with the intention of just swallowing the withdrawal fee if I needed the money in a year or two, but it seems they thought of that.
Seems like someone cashed out a decent chunk overnight
Investment Bond from about 5k to 21k available Voyage care from about 2k to 21k available Domestic and General from about 4k to 23k available Virgin media from about 2k to 21k available New Day 9k to 36k available Cabot 11k to 29k available KIRS Group from about 11k to 28k available
Sadly none of the bonds I have been hoping would come back up have shown their face.
Garfunkelux did show up again with 50k available at the start of the weekend.
So do we think it was someone who needed to top up their beer fund or that WiseAlpha have been adjusting their holdings to prepare for the new EU bonds?
Ahhhhh, I thought that the European launch was a push into Europe. Trying to get more Europeans buying the sort of bonds you have been doing up until now.
With the £ being so low against the Euro at the moment it seemed a lot more advantageous for Europeans to be buying into our bonds than the other way around (If you are assuming the pound will strengthen over the next few years that is)
not sure if its what you mean but once you have £100 in a bond you could have bought some of that offer that you saw with your interest payment or put it in any another bond you have as there is no minimum past the first £100
Ha, I didn't know that.
I knew the minimum investment was £100 and just assumed that it meant every bond purchase has a minimum of £100 sized chunks
EDIT: Tried it and it worked fine. I just topped up a few bonds I already had. Thank you very much for the advice. Maybe WiseAlpha needs a tip of the day pop up or something.