BOI 13 3/8 Tender Offer dated 21 June

[ResourceOgre]

I have received just now a tender offer through my broker:

"to tender any or all of their Bonds for purchase by Elgin Securities DAC (the “Purchaser”) for cash by payment of
tender consideration of £1,920.31 for each £1,000 in principal amount of the Bonds (the “Tender Consideration”),
being a payment in respect of the principal amount of the Bonds and a payment in lieu of accrued but unpaid interest up
to 25 August 2023 (subject to the right of BOI to extend, re-open, amend and/or terminate the Tender Offer, the
“Settlement Date”) of £40.31 for each £1,000 in principal amount of the Bonds"

Current offer price is 1.87.

The offer (1.92031) is marginally above this.

Take it or leave it? I'm trying not to deplete my already much shrunken (through redemptions and offers) set of FI. Unless continuing to hold confers additional risks, or a better FI opportunity exists elsewhere.

[JohnEdwards]

Please see the existing thread, misleadingly named "tender offer for Bristol & West prefs"
viewtopic.php?f=52&t=39576&start=40

[daveh]

Please see the existing thread, misleadingly named "tender offer for Bristol & West prefs"
viewtopic.php?f=52&t=39576&start=40

That was my fault as I read the Bristol and West RNS first and posted it under the Bristol and West heading and then the BOI RNS which contained extra info so just added it as a reply to the first post

[MickR]

Please see the existing thread, misleadingly named "tender offer for Bristol & West prefs"
viewtopic.php?f=52&t=39576&start=40

That was my fault as I read the Bristol and West RNS first and posted it under the Bristol and West heading and then the BOI RNS which contained extra info so just added it as a reply to the first post

Can you edit the title of the original post?

[88V8]

I have received just now a tender offer through my broker:]
Current offer price is 1.87.
The offer (1.92031) is marginally above this.
Take it or leave it? I'm trying not to deplete my already much shrunken (through redemptions and offers) set of FI.

As you will see on the other thread there is little appetite for selling, but bear in mind before the offer it was trading around 168 and if the offer fails I expect it will fall back to that level, and indeed lower after the next BoE rate rise.

One might even have the cheeky thought that one could accept the offer, and later buy them back at a lower price, but that depends on the offer failing to meet the necessary takeup, and of course in the meantime one is out of the accrual.

Can you edit the title of the original post?

I have asked for it to be changed, if the mods have time.

V8

[GoSeigen]

Can you edit the title of the original post?

You can edit the title/subject of any reply on a thread but other posters seldom follow suit. There has been discussion in the past about Mods fixing subject lines but unfortunately they are in general not prepared to do so. We just have to put up with the original version.

GS

[spencerlewis]

Well I´ve received the payment from BOI for the 13 3/8 % shares.
Can anybody tell me how I declare the payment to HMRC of
the 2p voting fee?
Is it interest or capital gain?

[88V8]

Can anybody tell me how I declare the payment to HMRC of the 2p voting fee?
Is it interest or capital gain?

It is suggested here that it would be treated as fee income.

V8