Lend Invest - Road Show for new bond to replace LIV2

[Wozzitworthit]

https://www.londonstockexchange.com/new ... t/16109529

[88V8]

There's also a 6.5%/27 that was refid last year, previously 5.25%.
Unfortunate for the issuer they have to do this one at a time of high rates.
8% ?

V8

[stevensfo]

Sorry guys, but I'm a Biologist who found TMF 25 years ago and am now completely confused.

I switched to LIV3 and thought that was the end of it.

What is going on? Wasn't this all finished with LIV3?


Steve

[88V8]

I switched to LIV3 and thought that was the end of it.
What is going on? Wasn't this all finished with LIV3?

Unlike James Bond, they LIV more than twice... if they can't redeem the debt or believe they have a better use for the cash, they have to roll it over, could LIV for ever, in principle.

V8

[formoverfunction]

I held on to my LIV2, and bought a similar amount of LIV3. I am sure I will LIV again....given the chance.

[Wozzitworthit]

New 11.5% Bonds and Exchange Offer

Exchange Offer Memorandum and Prospectus

https://www.rns-pdf.londonstockexchange ... 3-9-13.pdf

Final Terms

https://www.rns-pdf.londonstockexchange ... 3-9-13.pdf

[MickR]

Are these to be available on the open market, or just for existing liv holders?

[Laughton]

Available via Primary Bid (other intermediaries may be available).

[Gan020]

Are these to be available on the open market, or just for existing liv holders?

Available from:

AJ Bell
HL
II
Primary Bid
Redmayne Bentley
Ravenscroft

and I suspect others

[formoverfunction]

I held on to my LIV2, and bought a similar amount of LIV3. I am sure I will LIV again....given the chance.

So, I think I am going to part exchange, if that's possible, and reduce my overall exposure to LendInvest, the proceeds going to a fixed income collective vehicle.

That will give me exposure to the new issue and Liv3

Interesting article in the last few days about the shortening length of maturities.

This is what EuropeanHighYield has to say about it https://www.europeanhighyield.online/ht ... 1694532175

[88V8]

So last year they had to pay 6.5%, this year 11.5%.
Caramba.

Good ole Liz has been a bit of a boon for FI investors

V8

[BullDog]

Another "too good to be true" offer?

[BobGe]

This is what EuropeanHighYield has to say about it https://www.europeanhighyield.online/ht ... 1694532175

404 NOT FOUND
Sorry, the page you are looking for doesn't exist

[formoverfunction]

https://www.europeanhighyield.online/?s ... 1694532175

Try this.

[BobGe]

https://www.europeanhighyield.online/?s ... 1694532175

Try this.

"Corporate Bond Maturities get shorter, as issuers believe higher borrowing costs are transient"

"Investors in the $10Tln US corporate bond market are avoiding longer-term debt maturities, anticipating that the current surge in borrowing costs will be transient. Corporate bonds issued in 2023 have an average maturity of 10 years...
...like pension funds would appreciate the opportunity to lock in the yields offered by higher-grade companies, which haven't been seen in 15 years."

¯\_(ツ)_/¯
Dynamic link or vanished into the ether maybe?

[goonerbob49]

Has anyone holding LIV2 Bonds received a corporate action from their brokers regarding the bond exchange?

[formoverfunction]

Not yet, I chased on Friday, and they said it had not yet been notified on Crest, so it's still in waiting mode as far as II is concerned.

I am also waiting on The Royal Masonic Benevolent Institution Care interest payment. I chased HL about that today.

[goonerbob49]

Have been in touch with Kroll Issuer Services see below for contact details. They have assured me that brokers should have the Crest election event set up in the next 24/48 hours. The deadline is 27th September, but brokers will most probably have their own cut off around 25th!!!

Holders of the Existing Bonds should contact their broker if they want to offer their Existing Bonds for exchange or, if they need any assistance, can contact Kroll Issuer Services at lendinvest@is.kroll.com or on 020 7704 0880.

[shaunm]

Another "too good to be true" offer?

Very possible "Too good to be true"
The high coupon clearly indicates that this is a high risk investment, not for the faint hearted
Been a big investor in Fixed income securities, however I never liked the past offerings from LendInvest

Current Fixed Income Investments include, POBA, 1SBB, PFP2, RGL1, RMBI, BRU2 and more recently UK(GOVT OF) 2% SNR 07/09/2025 GBP1000 (SEDOL:BTHH2R7)

[goonerbob49]

Interactive investor has just posted the corporate action for the exchange of LIV2 FOR LIV4- The closing date for elections is 24/9/23!!!

OPTION 1: Do Nothing (Default). You will keep your current holding if you do nothing.
OPTION 2: Exchange my Notes. You will be issued with new Sterling denominated 11.5 percent Notes due 2026 in
LendInvest Secured Income II plc, in exchange for each existing note held, at a ratio of GBP100.00 in nominal value of
new notes for each GBP100.00 in nominal value of existing notes. You will also receive an exchange fee of GBP1.00 for
each GBP100.00 in nominal amount of existing notes successfully exchanged. The minimum subscription amount is
GBP1000.00 in nominal value of existing notes, and in multiples of GBP100.00 thereafter

Their offering a 1% exchange fee.