First Green Gilt (retail)

On the face of it, this looks as if it's going to be issued via the NSI's "Blackpool" register.
Reuters, amongsts other, suggest we should get more information on Wednesday. I can't help but think War Stock, maybe too cynical for my own good, but I'll be having a look at it either way. Maybe worth checking CS's about auction function. Even the Blackpool list fell under the control of the now defunt BofE registrars, so you never know.

Comments

  • Yes, let's keep an eye on it. The 5 year gilt benchmark yield has roughly doubled since the start of the year, the chickens are beginning to come home to roost, even if the BoE is buying most of the Gilts with money from the magic money tree. Some of that softness is beginning to feed through to the ORB market. Despite the fact that the Market Makers have disgracefully wide bid-offer spreads, rant over, sorry.
  • Agree with you Paddy. The spreads are outragous. I've been holding off these last couple of months waiting for prices to get to a reasonable level; restraint can sometimes be difficult !
  • Some of early commented suggested if HMG wanted to get this away it would require a higher coupon and might need to be a linker. That would be nice. ORB spreads *shudder* that's one of the reasons I've added unlisted debt to my portfolio. If it is availabe, on issue, via CS that would be my preference, then dematerialise if that's still a thing. Rant away, but given the small amount of issues on ORB, doubt it will change any time soon. Roll on Wednesday for the good (and bad) news.
  • edited March 4
    On the subject of "green" investments. AMPIL 2 looks attractive, the debt vehicle of the former AIM listed AMPH. I wouldn't be surprised if we see AMPIL3 coming down the tracks.
  • Interesting comments on the likely pricing of the Green Gilt on Uncles Jim's World of Bonds this morning.
    Background on Jim can be found on FT Advisors web site https://www.ftadviser.com/adviser-library/2020/05/28/what-i-m-listening-to-uncle-jim-s-world-of-bonds/
    "Jim Leaviss, M&G’s head of public fixed income, provides a bite-size daily podcast called Uncle Jim’s World of Bonds, with pretty much all you need to know about bond markets in five minutes."
    I'm keeping an eye out for the LendInvest IPO and the potential https://treesforlife.org.uk/ on Triodos.
    I may pick a small amoung of Golden Lane up on WiseAlpha (if they offer it). For my income portfolio, better options than GL around. Jim's Podcast can be picked up from Apple, Spotify and direct via rss.
    July looks as if it got interesting potential with Wise's direct listing and Bridgepoint bubbling under.
    Sepempber, NS&I, feels like a long stretch away. Still. Jim's an interesting listen.
  • I see the intention is for a September issue whereby at that time inflation whether real or massaged could be close to 3%.
    Really not sure what that would mean for us mere mortals with regard to the rate/terms for these bonds-any good guesses anyone?
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