Halifax 9.375bd Discussion Threads

[ukneonboy] 07/11/2020 06:31

No problem V.M.H 😂

Actually at around £1.75 each, "income seeking" investors can look forward to receiving a rather attractive annual gross income yield of 5.36% per annum, safely knowing that if for some bizarre or unforseen reason, the interest wasn't paid out on 1st March and on 1st September, Halifax is LEGALLY OBLIGED to pay out any unpaid arrears as soon as possible thereafter. 👀 👀

[verymaryhinge] 05/11/2020 19:25

I was looking at the prospectus in the link above - but I now see I was looking at the terms of the concurrently offered Pref Shares, the bonds ARE cumulative (p18) - apologies for creating confusion !

[ukneonboy] 05/11/2020 13:50

that's interesting because back in 2008 or 2009 during the financial crisis, the interest was not paid in the year it should have been paid, but it was subsequently paid out the following year. Bear with me.

Here's the QUESTOR article from the Daily Telegraph......suggesting it's cumulative

www.telegraph.co.uk/investing/bonds/questor-have-11000-invest-inbonds-arechoosing-halifaxs/

Remember, these things started life as Birmingham Midshires PIBS which was acquired by Halifax PLC which then merged with Bank of Scotland and was then bailed out and rescued by Lloyds Bank

If you are looking at the "old" PIBS info, this became obsolete when the PIBS became a Perpetual Subordinated Bond. They are CUMULATIVE.......

[verymaryhinge] 05/11/2020 13:38

p4 of prospectus

[verymaryhinge] 05/11/2020 12:48

they are not cumulative - i looked at the prospectus.

[ukneonboy] 03/11/2020 14:57

The interest on Halifax 9.375% Perp Bonds (HALP) is cumulative on these beauties, so if they couldn't pay their interest this year, they have to catch up next year or the year after that.(It is not lost or swept aside)

Making them, probably one of the safest income producing investment on the UK Fixed Interest sector

:-)

[deadly] 29/10/2020 10:22

Bizarre; can't see these as any better than LLPC etc.

[ukneonboy] 28/10/2020 17:32

Follow-up (POSITIVE) mention in the Daily Telegraph

[deadly] 28/10/2020 17:10

Why the 7p jump today?

[ukneonboy] 30/6/2020 17:01

Halifax 9.375% Perp Subord Bonds (HALP) tipped in the Daily Telegraph by QUESTOR

[cwa1] 15/5/2020 13:07

Ah, cheers, many thanks. That would explain it! I think that's the first time one of my fixed interest plays have been tipped!

Any chance anyone can post the tip, or a copyright respecting precis?

[stonesfan] 15/5/2020 12:38

tipped in Daily Telegraph

[cwa1] 15/5/2020 11:30

Seems to have "popped" this morning for some reason. What have I missed? Cheers

[cwa1] 08/11/2019 07:26

Yes, these are still a thing.

[ramellous] 07/11/2019 21:50

Are these still a thing?

[praipus] 17/3/2016 14:07

Can anyone tell me who the registrar is for these now?

[cwa1] 07/9/2015 06:31

Morning All

Anyone had their Halp payment yet?

Cheers

[deadly] 10/9/2014 16:10

and since further....

[deadly] 04/4/2013 10:40

...and it's continued since

[deadly] 09/10/2012 13:42

Very nice performance recently.

[cwa1] 22/2/2012 09:00

Morning All

The accumulated coupon has just landed in my account this morning. Always knew it would of coures-just nice to see it nestling safely there!

[cwa1] 20/2/2012 09:46

Anyone received their HALP missed coupon yet? Looks like we should have it by 2/3 but hopefully earlier than that.

[cwa1] 23/1/2012 10:00

Morning All

Joined you here with a small nibble this am. Resumption news obviously good, hopefully won't be turned off again. Missed coupons hopefully. Decent perpetual yield going forward with any luck.

[deadly] 20/1/2012 16:44

Lloyds confirm to pay accumulated on t2



So HALx issues will receive 3 lots of missed coupons on the 9th Feb? Plus another lot on the 1st March presumably....?

[nandan] 15/8/2011 18:07

" but all Arrears of Interest in respect of allBonds for (he time being outstanding (as defined in the Trust Deed) shall (subject to Condition 2(b))
become duc in full on whichever is the earliest of (î) the date on which a dividend is next paid on any class of share capital of the Issuer; (ii) the date fixed for any redemption pursuant ro Condition 4(b); or (iii) the commencement of a winding up of the Issuer (except in any such case, a solvent winding up solely for the purpose of a reconstruction or amalgamation or the substitution in place of the Issuer oía Successor in Business, the terms of which reconstruction, amalgamanon or substitution (x) have previously been approved in writing by the Trustee or by an Extraordinary Resolution of Bondholders and (y) do not provide that the Bonds shall thereby become repayable). "

The above is from the prospectus. Apologies for the spelling mistakes, as it is a picture to text conversion.
Basically as I can understand it, if LBG pays LLPC or its ords dividend, the arrears of interest need to be paid.