Wasps downward spiral... (35 Viewers)

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jordan210

jordan210

Well-Known Member
Bond has taken a big drop in last couple of days.

Some will be corona related but not all bonds have dropped
 
duffer

duffer

Well-Known Member
Devastated for them. It’s a bad time to be massively over-leveraged and with attendances dropping like a stone (and likely to dry up completely for a while).

Refinancing the bond is going to be crippling, and credit might be hard to come by in the coming months with all of the uncertainty around. Markets are pricing in the risk, I’d expect the bond to fall even lower.
 
jordan210

jordan210

Well-Known Member
duffer said:
Devastated for them. It’s a bad time to be massively over-leveraged and with attendances dropping like a stone (and likely to dry up completely for a while).

Refinancing the bond is going to be crippling, and credit might be hard to come by in the coming months with all of the uncertainty around. Markets are pricing in the risk, I’d expect the bond to fall even lower.
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Id expect it to be at late 50's by middle of next week if the current tend continues.
 
fernandopartridge

fernandopartridge

Well-Known Member
duffer said:
Devastated for them. It’s a bad time to be massively over-leveraged and with attendances dropping like a stone (and likely to dry up completely for a while).

Refinancing the bond is going to be crippling, and credit might be hard to come by in the coming months with all of the uncertainty around. Markets are pricing in the risk, I’d expect the bond to fall even lower.
Click to expand...

TBH the bond price doesn't have any day to day impact on them, but it's going to be another of a long list of factors that mean re-financing is going to be difficult if not impossible. I do wonder if something is afoot in relation to the bonds, @oldskyblue58 pointed out that they'd filed their reports way earlier than expected by the LSE. Is there something to read into that?
 
jordan210

jordan210

Well-Known Member
Wowza the bond has taken a massive hit today lost about 19%

Currently around £55

edit no idea what's going in with it now. not sure if its been suspended or something as LSE isn't showing data for it.

Some sites showing its under 50 now.
 
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chiefdave

chiefdave

Well-Known Member
jordan210 said:
Wowza the bond has taken a massive hit today lost about 19%

Currently around £55
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Said before refinancing might not be as easy as people like to suggest. But now on top of several years of poor figures and the uncertainly around the damage Brexit could do economically, they have this to deal with. All this while the repayment date is getting closer and closer. Only 26 months to go now.

Its so bad even some of their own fans are starting to get it!
 
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jordan210

jordan210

Well-Known Member
chiefdave said:
Said before refinancing might not be as easy as people like to suggest. But know on top of several years of poor figures and the uncertainly around the damage Brexit could do economically, they have this to deal with. All this while the repayment date is getting closer and closer. Only 26 months to go now.

Its so bad even some of their own fans are starting to get it!
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Im currently not sure what's even going on with the bond. LSE website has taken some data away from it. Another site is showing it down to 49.

Not sure if this is just errors or the bind is in free fall.

Quite a few bonds and stocks for some have massively dropped last week, mainly in entertainment and eating out sector so could all be related.
 
Kneeza

Kneeza

Well-Known Member
jordan210 said:
Im currently not sure what's even going on with the bond. LSE website has taken some data away from it. Another site is showing it down to 49.

Not sure if this is just errors or the bind is in free fall.

Quite a few bonds and stocks for some have massively dropped last week, mainly in entertainment and eating out sector so could all be related.
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Mirroring the trajectory of the crowd figures.
 
fernandopartridge

fernandopartridge

Well-Known Member
jordan210 said:
Im currently not sure what's even going on with the bond. LSE website has taken some data away from it. Another site is showing it down to 49.

Not sure if this is just errors or the bind is in free fall.

Quite a few bonds and stocks for some have massively dropped last week, mainly in entertainment and eating out sector so could all be related.
Click to expand...

Yeah, it most definitely is linked to the wider world but it just won't recover as far as I see it.
 
Liquid Gold

Liquid Gold

Well-Known Member
It doesn't really have any material effect on them though does it. It's probably people cashing in on investments that they feel are higher risk to ensure they are secure during the coming recession. The big problem will come in May 22 when they can't afford to pay them back or refinance them without payday loan interest rates.
 
C

CCFC88

Well-Known Member
Liquid Gold said:
It doesn't really have any material effect on them though does it. It's probably people cashing in on investments that they feel are higher risk to ensure they are secure during the coming recession. The big problem will come in May 22 when they can't afford to pay them back or refinance them without payday loan interest rates.
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That's it, they amount they have to pay back is still the same no matter if the bond price is 50 or 150, only effects the people who have bought the bonds. Great to see the vote of no confidence from the market though, refinancing this is going to be almost impossible if they go on to lose 10m a year till 2022, nobody in their right mind would lend them that money. City going back on a deal massively in their favour is the only way they're saved.
 
Liquid Gold

Liquid Gold

Well-Known Member
CCFC88 said:
That's it, they amount they have to pay back is still the same no matter if the bond price is 50 or 150, only effects the people who have bought the bonds. Great to see the vote of no confidence from the market though, refinancing this is going to be almost impossible if they go on to lose 10m a year till 2022, nobody in their right mind would lend them that money. City going back on a deal massively in their favour is the only way they're saved.
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Yeah, the good news is the city saying these are not worth the risk, effectively saying you're not going to get your money back as they're a basket case.
 
jordan210

jordan210

Well-Known Member
Something odd has happened. The close price is now showing back at 68 but bid price is under 50. Something has gone majorly wrong somewhere.

No idea what the true price is.
 
jordan210

jordan210

Well-Known Member

it’s not shown trades since the 13th but normally when there has been movement people sell.

The charts showed down 28% at one point then went and all data wiped. All a bit odd. Hopefully in a few days the data is sorted out.
 
Skyblueweeman

Skyblueweeman

Well-Known Member
I've no idea what all these bond prices mean or correlate to but it all looks like it's bad news for Wasps.

The best news I've heard in days. Still feel sorry for original London supporters who saw their club ripped away. The rest of them though...sod em.
 
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