Lloyds Grp6.475 Discussion Threads

[pvb] 04/7/2014 15:38

I must say I agree with 4spiel. 'Perpetual' simply means there is no call date. Doesn't mean they are literally perpetual - how can they be?

Similarly, there is a possible call date on LLPE, but that doesn't mean they have to be called on that date.

[4spiel] 04/7/2014 15:13

There is nothing perpetual about anything we know ! whats the point ? Santander buy prefs back by tender -admittedly you don't have to accept. But it depends much on the circumstances at the time and what you get -so it can matter.

[zangdook] 04/7/2014 14:58

They are also cheaper for Lloyds to pay than C's and D's so the least likelihood of them being on the agenda for repayment prematurely when the bank has more ready cash.

LLPC and LLPD are perpetual. It doesn't matter if the bank wants them back.

[4spiel] 04/7/2014 13:26

These are the best of the Lloyds Prefs in that there is a call at 2024 They are also cheaper for Lloyds to pay than C's and D's so the least likelihood of them being on the agenda for repayment prematurely when the bank has more ready cash. The highest payers not necessarily the safest because the C's and D's have been over-ramped in an environment where only modest interest rises look tenable. Well a contrarian view but with rates at even 3.5% you still have a 3% premium as part of a diversified balanced portfolio and assuming you bought them not recently.

[pvb] 15/6/2014 21:18

Now seems at least possible rates will go up this year, surely will next year. Yet still they rise!

[tokyo sexwhale] 30/5/2014 12:03

They aren't going up this year and possibly not next when they do will be a 0.25 raise at best interest rates are going to be raised very slowly the country is bankrupt and people cannot afford any raise in their mortgage payments once people start getting repossessed as they cannot afford their mortgages they will think twice

[pvb] 30/5/2014 12:00

These are starting to make me feel a little dizzy now.

We are hearing increasingly about "when interest rates go up" and yet still they rise.

[pvb] 28/4/2014 16:37

Well, it doesn't seem to have harmed them. These never seemed to get much of a mention on fixed interest threads these days. I wonder how many PIs are still holding them.

Mind you, they (or their antecedents) were issued to some savers in, I think, Birmingham Midshires BS on demutualisation, so there could still be quite a few £400 holders around.

[coolen] 06/3/2014 19:14

Is it not bullish for pref holders, in that the greater the number of CocoPops that Lloyds issue the further up the security/safety ladder the prefs get nudged ?

[pvb] 06/3/2014 15:46

Any opinions if the Lloyds ECN exchange offer will effect these?

[pvb] 18/12/2013 14:32

Still holding!

The price, to 101p, I mean.

[pvb] 07/11/2013 14:04

Yes. These are on par now. Bit surprising given the rumours about the BoE expecting rate rises next year or so? What next?

[nw99] 09/4/2013 10:51

thanks will take a look

[pvb] 27/3/2013 14:22

Yes. Thanks.

[cwa1] 27/3/2013 13:11

I think you probably mean LLPF for the thread?

[pvb] 27/3/2013 09:57

You are quite late, they are nudging towards par. The main thread for all the Lloyds_ prefs. is now to be found at LLPF.

[nw99] 27/3/2013 07:15

Looking to buy this i am late to the party but what a yield

[kaspex] 15/10/2012 01:02

Even with the 2 year dividend loss, LLPC/D have been good to me having been acquired in the low/mid 70s. In fact the only reason they got that low was because of the loss of dividend and the uncertainty.
As the Crown is the major holder of ordinaries the potential for failure is very low and always has been since the rescue. The major potential problem was a further dividend cancellation and with Lloyds now on firmer ground with its capital structure, LLPC/D/E are no-brainers up to a price on yield of 7%.
Remember it was not Lloyds that cancelled but I am sure they appreciated the impact.

[4spiel] 12/10/2012 12:37

Yes you are right Kaspex in the short term but I was thinking ahead -agree Lloyds cannot dump them yet !

[kaspex] 12/10/2012 00:37

IMHO Lloyds cannot dump LLPC/D because the only way they can get them off the books is to offer a high price in the market and before that happens they would need to resume the ordinary dividend.
I stand to be corrected.

[4spiel] 12/10/2012 00:17

Returns on cash are now very low in the banks and building societies so there continues to be upward pressure on the preference shares. Upward pressure on divi paying shares of good quality makes those yields less attractive now and if Fiscal Cliff does not create a 'regeneration' ! of yield then prefs will push on and this tiddler might even regain 1.05p where it was before the 2008/9 troubles. Indeed at a £ what would you rather have this or building society interest less 20% tax !!!! To be honest its the cheapest mainstream pref even if pro rata its not exactly cheap -but there is some safety in its lower yield than the C's and D's - LLoyds will be less in a hurry to dump this one as it costs them less to pay and indeed for lloyds they will not be too upset about this yield anyway - 9.25 and 9.75 oh yes they hate them -if only they could spare the cash to get rid of them. So LLPE a good hold -you should have bought them by now -if you are still looking fear not but when inflation kicks in you will have to keep an eye on them

[pvb] 18/9/2012 09:09

No big news, but second LLPE div has been paid on 17 Sept.

[4spiel] 20/8/2012 14:14

LLPE a nice buy with a decent yield and lots of potential upside.This was over £1 when % rates near 5% !