The Royal Masonic Benevolent Institution Care interest payment

[shaunm]

RMBI BOND 6.25% 6.25% 07/03/2029 (SEDOL:BQB3FY8)

The 1st interest payment was due to be paid on 7th September
With AJ Bell - No receipt so far, therefore I will make further enquiry

Any news from anybody else?

[Borderline]

Just checked with HL and no payment received yet.
Will chase HL.

[Borderline]

Just received this from RCB:

"RCB Bonds plc (the "Company") has become aware that there was a delay in processing the payment of the coupon due to bondholders on 7 September 2023 in respect of its 6.25% sustainable bonds due 2029 (ISIN: XS2491730375) (the "Bonds").
The Company confirms that it received the interest due under the loan agreement with The Royal Masonic Benevolent Institution Care Company on time and in full, and that it paid the coupon on the Bonds on time and in full to the Paying Agent, BNY Mellon.
The Paying Agent has further confirmed to the Company that it transferred the funds on time to Euroclear for distribution to bondholders. However, it has become apparent that, due to an administrative delay, certain bondholders did not receive their coupon payment on the payment date.
The Company's servicer, Allia Bond Services Ltd, has worked closely with the Paying Agent to resolve this matter and the Company has now been assured that all holders of the Bonds have been credited."

[shaunm]

Payment received this afternoon 20th Sept from AJ Bell (post dated the receipt as the 7th Sept)

Very unusual to receive coupon payment late, perhaps the only second time in the 16 years of holding Fixed Income Securities

[formoverfunction]

I am still waiting for mine from HL.

I think a LendInvest one was late recently, almost 2 weeks. Lets hope it's not a developing trend. I only have a very small holding in this one, but by nature I get frustrated when I am not paid on time LOL

[OldBoyReturns]

I am still waiting for mine from HL.

I think a LendInvest one was late recently, almost 2 weeks. Lets hope it's not a developing trend. I only have a very small holding in this one, but by nature I get frustrated when I am not paid on time LOL

HL announced this week that it made £269m on client cash in the past year. Which makes you wonder whether the repeated inexplicable delays in crediting interest and tender offer proceeds are very much in the plan ...

We should not accept it so I make a formal complaint every time it happens.

https://citywire.com/new-model-adviser/ ... s/a2426061?

[formoverfunction]

I have been think the same for some time, I've noticed more dividends being paid a day later than usual.

It's a fairly nice way to make a bit of extra, place the cash overnight and it's their, not yours, interest.

[Borderline]

Interest payment finally arrived in my HL account sometime this afternoon but dated 7th Sept.
Hmmm.
Delaying payments was a common strategy in the roaring inflation driven seventies and the company I worked for at the time were masters at it.
They would even invite someone from one of the big suppliers for lunch on a Friday with a promise of a cheque.
By the time the very liquid lunch was over it was too late to pay the cheque in to the bank and it would be Monday before it could be paid in.
Such fun.