First Adb 34 Discussion Threads

[jonwig] 21/3/2012 08:23

A new 7% retail bond, maturing in 2017:



No good for me at present, as I'm not a client of any of the sponsoring brokers, and the offer closes on 30/03.

Based on PF16, it should trade around par, even a bit below.

[jonwig] 28/2/2012 12:33

Thanks for that, CWA.
As they say, PF16 is no longer ISA-able, but the 7% 2020 looks an interesting prospect (it's PFG7).

[cwa1] 28/2/2012 12:07

Not exactly a much talked of bond, so every little bit of publicity may be of interest to some:-

[jonwig] 08/12/2011 09:11

Slogs ... you are, of course, correct, but that is unfortunately irrelevant: the Government "vowed to step up its fight against potentially unscrupulous lending practices amid fears that lower earners were being drawn into a spiral of debt by expensive short-term loans." [FT]

[slogsweep] 08/12/2011 08:22

Whats all the fuss about? Payday loans are still a lot cheaper than unautherised O/D's. Nobody has to take them out and they are high risk for lender. There are lots of competitors so the rates charged are 'market'. If someone gets into financial trouble its because they spend too much, not because the because there exists a lender who is prepared to take the risk.

[jonwig] 07/12/2011 09:42

Concerns are being expressed (again) about the high rates on payday loans. I suppose that's the reason for some selling here. if you're going to panic, get your panic in early!

EDIT: the ords don't seem too concerned.

[jonwig] 10/10/2011 14:27

Slog - no ex div ... the quoted price is 'clean' but when you buy, you pay accrued interest from the last pay date, and when you sell, you are paid interest back.

So, for example, if you sell the day before, you'll get 182 days interest.

[slogsweep] 10/10/2011 14:18

Just checked and got mine too. Does that mean next divi due 31st Mar 12? anyone knw the Ex divi date?

Also did not notice a drop in price - that usually happens when they go Ex div

Any explanation?

[jonwig] 07/10/2011 15:54

Me too - it was a bit late, I'd pencilled in 30 Sept. Too late now to buy for an ISA, and mine will (I think) stay there until 2016.

Something wrong with the header charts - they stopped, had a break and restarted, losing the earlier part.

[chester] 07/10/2011 15:18

Got my nice divi today.

[jonwig] 15/4/2011 17:55

I don't know of a list of ratings, but you might find what you want here, it's a site I use a lot:

[slogsweep] 15/4/2011 15:32

thanks mine are in a isa. Do you know where I can find out the ratings of corporate bonds?

[jonwig] 15/4/2011 10:25

Slogs - am an OAP too. Can't comment on annuities.

PFG is regarded as a risky company (sub-prime lender with substantial defaults rate) but is well-run.

PF16 is like a gilt, yes. but ... When you buy you pay accrued interest on top. There isn't an ex-date as such: if you sell a day before payday you get all but one day's interest.
Really need these in a vehicle to get gross interest - mine are in an ISA. I added some LBG2 this morning.

[slogsweep] 15/4/2011 08:06

MY broker selftrade did seems to be offering bonds now lloyds and tesco were offered last month

don't know much about bonds, but as an oap now thought I would get a few seemed a better bet than an annuity. Do you know how the rating compares ? seemed a better bet than lloyds anyway! noted the shares have similar yield so nearly bought them instead as equities are my thing. Presumably they behave like gilts ie price rises as interst accrues then drops by divi amount on xd

[jonwig] 01/4/2011 09:55

My broker wasn't handling this at float (£100) so I had to pay £101.40 today in the market.
ADVFN don't seem to have captured the quote on a chart.

REM: NB also LBG2, 5.5% 2016.

[jonwig] 01/4/2011 09:53

Issue Date 25-Mar-2011
Maturity Date 30-Sep-2016
Coupon Value +7.50%
Coupon Frequency 6 months
Coupon Payment Date 30-Sep-2011
Coupon Ex Date 31-Dec-9999
Redemption Date 30-Sep-2016





Chart of PF17 (7%):