Alpha Plus Holdings plc (ALP2) 5% Bonds Due 31/3/2024
Posted: October 6th, 2023, 9:45 am
I've been lookingat somewhere to park cash until March/April 2024 and looked at these, which had been off my radar since Covid times when, if I recall correctly, there was some concern about how this was affecting their business (private education)
The current purchase price of these (with HL) is 97.3523 pence, which, assuming I've done the sums correctly, gives a YTM of about 10.5%
In the interim report at the end of February 2023 it was stated:
"The refinancing of the retail bonds and DDBs is well underway, with support from advisors. The Group
has received written confirmation from a third party lender with support from its investment committee that
the lender is highly confident in its ability to provide the Group with sufficient debt funding. The Group’s
advisors continue to be confident that the refinancing can be executed in an orderly manner sufficiently
ahead of the redemption date for the retail bonds of 31 March 2024."
I doubt if I would re-invest in any new bonds as at present I have other uses for the proceeds, but I thought I'd insert the above for general info
Woz
The current purchase price of these (with HL) is 97.3523 pence, which, assuming I've done the sums correctly, gives a YTM of about 10.5%
In the interim report at the end of February 2023 it was stated:
"The refinancing of the retail bonds and DDBs is well underway, with support from advisors. The Group
has received written confirmation from a third party lender with support from its investment committee that
the lender is highly confident in its ability to provide the Group with sufficient debt funding. The Group’s
advisors continue to be confident that the refinancing can be executed in an orderly manner sufficiently
ahead of the redemption date for the retail bonds of 31 March 2024."
I doubt if I would re-invest in any new bonds as at present I have other uses for the proceeds, but I thought I'd insert the above for general info
Woz
