hiriskpaul wrote:MBSR payment is late at HL. Has anyone been paid yet?
I just emailed to chase them up today, have received interest at both EQI and II so it's a HL problem I think.
GS
Thanks to Anonymous,bruncher,niord,gvonge,Shelford, for Donating to support the site
hiriskpaul wrote:MBSR payment is late at HL. Has anyone been paid yet?
GoSeigen wrote:hiriskpaul wrote:MBSR payment is late at HL. Has anyone been paid yet?
I just emailed to chase them up today, have received interest at both EQI and II so it's a HL problem I think.
GS
hiriskpaul wrote:GoSeigen wrote:MBSR prices are firming up after their Ukraine war dip, they are going ex soon so buyers will get 4% of their purchase price back in a few weeks. At close to 8% yield these should provide sufficient protection against the current inflation.
WBS are also about to pay their first interest in years, albeit only 0.5%, to long-suffering holders. Their price has risen and I think at c80p they are around fair value at the moment.
GS
FWIW, I cannot get an online buy quote for the 8%, not even 1k nominal. Less of a problem selling, quoted 100.25 for 10k nominal, 100.05 for 50k.
Still no announcement on the future plans for the society. Any thoughts on this? Return to normal lending now a possibility I would have thought, but merger with another BS more likely, or perhaps a takeover by whoever holds the PPDS?
Edit: AGM on 27 April, maybe we will get an announcement or some guidance then.
AFAICS West Brom have not announced the reset interest rate as they were supposed to around March 2021 but by my estimation it should be approx. 3.5p per 100p nominal. The interest rate resets every five years (next time Apr 2026) so the PIBS behave like a 5-year quasi inflation-linked bond.
tincture wrote:AFAICS West Brom have not announced the reset interest rate as they were supposed to around March 2021 but by my estimation it should be approx. 3.5p per 100p nominal. The interest rate resets every five years (next time Apr 2026) so the PIBS behave like a 5-year quasi inflation-linked bond.
GS,
Thanks for your continued posts on these.
Can I just confirm that it is the PIBS (i.e. WBS) you are talking about which reset in 2021 and again in 2026 (i.e. not the CCDSs), and resets to what?
And your expected 3.5p per 100 is that this year - annualised or semi ?
Seems to bear little relation to the headline 6.15% I thought I was in for - although admittedly when I bought them they were distressed and I wasn't buying for the coupon.
I was minded to sell them on the basis the yield was now similar to LLPC , but may have to re-evaluate if thats not the case - although this complexity makes them difficult to value for me, and perhaps I should sell anyway.
I will hold MBSR for the foreseeable unless or until the average pref yields looks like it will catch up with them.
Sold the rest of my prefs when I tendered LLPC/D. Half the proceeds went into various stock trackers which are down ~10% since (but at least not as much as the prefs!), the other half is cash still waiting inspiration.
tincture
GoSeigen wrote:Hopefully my musing about pricing helps a little. What do others think?
GS
hiriskpaul wrote:Excellent news! I would expect the PIBS to survive the merger with just a name change.
GoSeigen wrote:MBSR up about 7% since I last looked, which is nice. Also, they seem to be tradeable on II now, has anyone else noticed that?
GS
Users browsing this forum: Bing [Bot] and 4 guests