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CSN Chesnara Plc

252.50
-1.00 (-0.39%)
26 Jul 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Chesnara Plc LSE:CSN London Ordinary Share GB00B00FPT80 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -1.00 -0.39% 252.50 252.00 254.00 253.00 251.00 252.00 76,646 16:29:57
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Life Insurance 488.8M 18.7M 0.1239 20.38 382.67M
Chesnara Plc is listed in the Life Insurance sector of the London Stock Exchange with ticker CSN. The last closing price for Chesnara was 253.50p. Over the last year, Chesnara shares have traded in a share price range of 241.50p to 289.50p.

Chesnara currently has 150,954,119 shares in issue. The market capitalisation of Chesnara is £382.67 million. Chesnara has a price to earnings ratio (PE ratio) of 20.38.

Chesnara Share Discussion Threads

Showing 2151 to 2175 of 2650 messages
Chat Pages: Latest  94  93  92  91  90  89  88  87  86  85  84  83  Older
DateSubjectAuthorDiscuss
03/2/2022
09:14
Well the market seems comfortable with all this, highest level since end November and a nice little uptrend.
bluemango
03/2/2022
09:12
4.75% seems to cheap for subordinated debt when you look at other financial subordinated debt such as legacy building society pibs or perpetual preference shares.
my retirement fund
03/2/2022
09:01
jonwig - thanks for your views - even though they're worrying. And sorry for not including you in my shortlist of people who know what they're talking about here. I remember you from TMF days I think?
boystown
03/2/2022
08:48
...Yes. I remember when they used to have a very boring, plain and simple annual report & accounts document. Very reassuring! That changed a few years ago now.
pvb
03/2/2022
08:31
riverman - a senior bond would be subordinate to Solvency 2 capital falls. The latest S2 surplus was 142%. A run-off book tends to increase surplus, open business is more sensitive to downsides.

142% is OK, not brilliant. I seem to remember the recent presentation hinting at open book activity.

I've held CSN for several years, and have always been encouraged by the "most boring company ever" story. Recent events don't suggest selling, but I'm more wary.

jonwig
03/2/2022
08:17
riverman77 / Williamcooper104 - do you both hold? It would make me feel a lot more comfortable if the answer is 'yes'! :-)
boystown
03/2/2022
07:43
A typical corporate bond would give strong claim on a company's assets so very safe. Holders of a subordinated bond such as this could be wiped out if capital ratios fall below a certain level. So much riskier and hence the higher yield.
riverman77
03/2/2022
07:25
That's a crucial point - agreed
williamcooper104
03/2/2022
07:24
Credit spread as in the 10 year gilt is about 1.20 percent - so CSN are paying about 3.5 percentage points (or 350bps) over that A highly rated company with an A rating might may 60-120 over, a sold investment grade company but not as highly rated, say BBB might pay 150-200
williamcooper104
03/2/2022
07:19
It is a subordinated issue (tier 2 capital), so that is not expensive.
riverman77
03/2/2022
07:09
Boystown - the more risky (ie. low grade) the bond, the higher the interest rate coupon they have to offer. William says 4.75% is very high. I think I'd agree with that.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

CASSINI - no, "chsnr".

jonwig
03/2/2022
00:03
Next they'll change their name to 'Chsnr'...
cassini
02/2/2022
23:32
Recently:

1. Changed CEO to someone who is obviously more ambitious.
2. Hired a Head Of Strategy from Pheonix
3. Talked of making purchases based on "synergies"
4. Rasied funds via a bond placing

Chesnara are boring no more.

al101uk
02/2/2022
22:53
but the coupon with a credit spread of c350bps looks more sub-investment grade

I have absolutely no idea what this means, but it sounds even more worrying! But yield, ptbv and p/e all look great. Even the chart looks suitably boring for those of us seeking yield.

boystown
02/2/2022
22:36
Indeed BBB- is the lowest investment grade debt but the coupon with a credit spread of c350bps looks more sub-investment grade
williamcooper104
02/2/2022
20:54
Thanks jonwig; that's worrying - I thought CSN were a solidly boring outfit with a reasonably safe yield? But valuing life insurers for the uninitiated isn't easy.
boystown
02/2/2022
20:26
Boystown - I think an EU listing makes it easier for CSN to pass EU regulatory tests for its EU business (Solvency2, which the UK may simplify). It may see NL as the preferred place to acquire and consolidate businesses.

A bigger fact is that BBB- is, I believe, the lowest investment grade rating. That might not be so encouraging!

jonwig
02/2/2022
17:18
Chesnara PLC (LSE:CSN) has announced the pricing of its £200mln inaugural debt capital markets issue.

Proceeds from the funding are earmarked for general corporate purposes including investments and acquisitions, the company said in a statement.

The debt instruments are BBB- rated by Fitch, have a 10.5 year maturity and carry a coupon of 4.75%.

"We are delighted with the level of investor interest in Chesnara's first notes issuance,” said chief executive Steve Murray.

“The financing will be utilised primarily to provide financial flexibility and accelerate our growth strategy including the delivery of value from future acquisitions, while also underpinning, and diversifying our group's capital structure.

"The notes represent an important milestone for Chesnara in enhancing our group's financing capabilities which will leave Chesnara well positioned to pursue further growth opportunities."

dosser50
02/2/2022
15:21
Bit of good news, but can anyone explain why "Notes are expected to be admitted to the Official List of Euronext Dublin and to trading on the Global Exchange Market of Euronext Dublin"?
boystown
27/1/2022
19:10
Mr Benn. Classic!



Reckon you're showing your age, LG, if you used to watch it with your kids, not as a kid! ;-)

speedsgh
27/1/2022
17:04
Showing your age with that one, Kev. I used to sit with my kids to watch Mr Benn :-)
lord gnome
27/1/2022
17:00
...the shopkeeper appeared.
kev0856153
27/1/2022
16:44
...and as if by magic...
cassini
26/1/2022
16:21
I have been using Microsoft value4 goes up
petewy
26/1/2022
13:02
Got to park your money somewhere when inflation is raging. This is the nearest thing to an old-style high-interest bank account!
cassini
Chat Pages: Latest  94  93  92  91  90  89  88  87  86  85  84  83  Older