GREENSLEEVES HOMES TRUST ROADSHOW

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Comments

  • Without fanfare I just received a contract note from A J Bell/Youinvest for the full amount I applied for. Has anyone else got the same ?
    A bit surprised it's been that quick in determining the allocations.
  • I got the full allocation from YouInvest
  • As an aside I'm surprised to see the YMCA bond is unlikely to get away as lately there seems to have been an appetite for anything.
    I guess the challenge was the issue had been stacked too far in favour of Tridios bank with the 6% bondholders left subordinated to the bottom of the list. Of course you aren't going to get 6% without accepting subordination and risk but with Covid I became very nervous about their financial projections. Easier ways to make 6% imho.
  • edited December 2020
    Nothing on Greensleeves for me.
    Notts YMCA;
    I'm still hoping it get's away as I think the social impact of sport provision and training in the area would be large. Enough upside for me. Interesting to see what happens next with it. One of the things I like about Triodos, small order size, big social impact (with some of the schemes). I'm willing to take a punt on that.
  • But I thought that this forum was for 'Listed Bonds' on a recognised exchange, eg LSE, there have been several scandals involving so called 'mini-bonds' which are not listed or tradable, https://www.triodos.co.uk/press-releases/2020/nottinghamshire-ymca-launches-charity-bond-to-support-investment-in-local-community, doesn't seem to meet my definition of a 'Listed Bond'
  • "But I thought that this forum was for 'Listed Bonds' on a recognised exchange"
    "fixedincomeinvestor.co.uk" - would appear to be for fixed income investors, if I'm right the original site had a few editorial articles on peer-to-peer and crowd funded issues.
    I not aware of any suggestion there's been any scandals originating from Triodos.
    It may not meet "your" definition, but it does meet the definition of polite contribution to a discussion forum in response to another poster.
    Maybe I won't bother again.
  • I appreciate all comments in good faith, but it's an important distinction to make, whilst most of us are reasonably switched on here, some people might mistake tradable bonds on an exchange, and other forms of what are essentially loans, the objection that I have is that these loans are promoted as 'bonds' when they are not in the conventional sense (ie tradable).
  • I suggest that going forward if this happens again with something like YMCA a seperate thread is the way to go and there are enough of us to ensure it has a health warning.
  • A J Bell issued my contract note very quickly for my Greensleeves bond purchase. However, I don't recall getting an email from them about it though they may have included it in their very lengthy newletter, I am also aware that on the day the Pfeizer vaccine was announced I and many others could not access our accounts. So I am having to review this relationship as I don't want to be locked out of my account one day during a stock market crash. They don't seem to get that this is unacceptable. I am happy that they are profitable but still increasing charges, service however has to be quick in fast moving markets.

    I only found out about this issue from the forum.
  • One of the things that may be interesting; does a market place exist to trade charity issued corporate debt ex-LSE.

    There is as far as I understand it (I haven't used it, simple matched bargain/bulletin board basis):

    https://www.ethex.org.uk/

    - I'd be very interested to know if any one has?

    Given the lack of issues on ORB, and the high commitment level for none-ORB listed securitised fixed income, "bonds", then I'm open to exploring 3rd/green sector unlisted debt issuance as an alternative.

    - charity issue on ORB don't attract me because they are on ORB, and for that case "green debt' issued on the LSE, because it's on the LSE, but MORE as an opportunity to explore alternatives.

    Even the very very low yield CMI's (Community Municipal Investment) Abundance are developing for local government catch my curiosity. Not that I hold any or want any.

    As far as securitised tradeable corporate debt is concerned, "bonds", traded on an exchange available to retail (ORB), then it's tiny.

    There's a lot more out there for fixed income investors to consider.

    - as someone said, there's easier ways to make 6%, but on this occasion I'm happy to take the 6%, with a "small order size" and see what good I can do with my money, tomorrow I'll be back to buying Philip Morris et al.




  • edited December 2020
    curiouspaul:

    Can I respectfully suggest that you take up JammyDodger's suggestion of starting a separate thread so that this can return to being Greensleeves related only? It should then be possible to ascertain a certain level of interest in your topics by observing the amount of hits.

    And I for one welcome your thoughts. I like to read about new ideas but they will get lost if they are injected into other unrelated threads.

    Thank you.
  • edited December 2020
    Of course, wish you all good luck with your investments.
  • Back to topic- not sure if I misread the prospectus but I appear to have missed completely the fact that if the bond does indeed mature in 2032 rather than 2030 then the interest rate goes up from 5 to 6% in the final two years .Happy days if i'm correct and I hold until that time.
    Gliderpilot-AJB/Youinvest weren't alone with being unable to trade-I tried H.L. as well on that day and failed with them too. I read on another forum that people had the same problems with other platforms inc i i .I did manage to trade late in the day but for sure there was no " live " service.
  • Re the comments on trading on Pzeizer day. Yes that problem has been reported by many smaller investors; probably to make sure the big boys had their fill !!!
  • Could somebody please give me the epic code for this bond?
  • GHT2 or XS2250730749 and trading on London Stock Exchange at 100.85 / 102.05 currently
  • Thank you geoffp. I have inserted this into my ADVN list.
  • GwmGwm
    edited December 2020
    (Edited - as I got mixed up with the issue date - Covid vaccine gone to my head. - Online trading probably won't begin until the official issue date of 17/12/20). Out of interest only as I got my allocation - tried for quotes and trades. AJBell - listed but no quotes or trades. II - listed with quotes but no trades. Idealing - not listed yet.
  • Isn't there normally a brief period where there is a price in bonds on a when issued basis ie sort of grey market, before they trade freely?
  • Yes as far as I can see they're trading as " WI " and as far as I know official trading starts on 18th December.However with such a small issue and allotments dished out early maybe the official trading date is now earlier. ?
  • Gliderpilot thanks for steering me on to the right path! You are quite right - got the issue date mixed up!
  • Trading at 101.25-102.25 on WI terms. Largish chunk bought this morning ( not me ! ).
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