The Lemon Fool

I have just noticed that HL has now renamed the Manchester PIBS. Now Newcastle PIBS.

Thinking of reducing, but looks as though I will have to trickle them away. Offered 104.875 for 10k nominal of the 8%, but drops to 101.462 for 20k and "Unable to retrieve a live quote" for 30k. Also hold the 12.625% and 6.75%, both similarly illiquid. Maybe those looking for a home for BOI cash will increase demand!

FYI

www.londonstockexchange.com/news-articl ... n/16024042

PIBS details now available on the Newcastle site: https://www.newcastle.co.uk/investor-re ... ing-shares

Will be interesting to see if Newcastle handle the Manchester PIBS the same way in their accounts, i.e. the 6.75% as equity and the 8% as debt.

Hopefully at least liquidity will improve a bit now that the issuer is a bigger Society.


GS