Kneeza
Well-Known Member
They couldn't care less. They effectively play in two leagues this year. Prem and Champ!
They couldn't care less. They effectively play in two leagues this year. Prem and Champ!Saracens can’t be happy about that...
My thoughts as wellSmall price to pay for that news!
What would happen if the new financial arrangements that could be suggested from the rugby club are not accepted by the bond holders?
Does anyone know what options are open to the bond holders?
IF i understand this right the shares are now worth 39.50, not 2000. They went as low as 24.8 and heading that way again. I don't understand this so this could be wrong WASPS FINANCE PLC WAS1 Stock | London Stock Exchange£2000 a pop I think I can use better
What price did WxxxS sell at originally to cover the bond?IF i understand this right the shares are now worth 39.50, not 2000. They went as low as 24.8 and heading that way again. I don't understand this so this could be wrong WASPS FINANCE PLC WAS1 Stock | London Stock Exchange
Wasn't it 100 at 6.5%,?What price did WxxxS sell at originally to cover the bond?
IF i understand this right the shares are now worth 39.50, not 2000. They went as low as 24.8 and heading that way again. I don't understand this so this could be wrong WASPS FINANCE PLC WAS1 Stock | London Stock Exchange
Yes but 6.5% at 100% of shares and now down to 39.5% value is a real loss maker. If it stays that way (and the percentage is going further down then they must be fuxxxd. It's still going down, wish it was still at 24.8 but it could get there again.
Sorry did not word that very well, I think they are sold in blocks of 2000
So your 37% is the same as my (i no nothing about shares) share and guess what, after your comment and mine we are both at 37% lmao.A deal today was at 37
Ignore the Bid / Offer figures to some extent that is the deal maker creating a Market
WASPS FINANCE PLC WAS1 Stock | London Stock ExchangeYer, so someone has traded 10k of bonds at 37p this morning. Assuming they bought them at issue, then they've just lost £6300.
That is true, forgot about the interest already paid.WASPS FINANCE PLC WAS1 Stock | London Stock Exchange
Basically yes - except they would have received 5 years interest @ 6.5% = £3250
Ok so for a newbie plz explain
We want bond price to fall yes?
Who loses money? Wasps or investors in wasps?
The bond is essentially a loan so in theory when the bond matures (May 2022) you get back what you put in. For example you bought £5K worth of bonds when they launched in May 2015 you get £5K back in May 2022. On top of that you get interest every 6 months, the interest rate is higher than you'd get shoving the money in a bank which is the attraction for people to buy them.We want bond price to fall yes?
Who loses money? Wasps or investors in wasps?
The bond is essentially a loan so in theory when the bond matures (May 2022) you get back what you put in. For example you bought £5K worth of bonds when they launched in May 2015 you get £5K back in May 2022. On top of that you get interest every 6 months, the interest rate is higher than you'd get shoving the money in a bank which is the attraction for people to buy them.
People who own bonds are free to sell them, they initially traded for more than the original price so you could sell them at a profit. Then in December 2017 they dropped below the original price and have on a downward trend ever since. Couple of small recoveries but overall going in the wrong direction. The theory is the lower the price goes the less confidence the market has that Wasps will be able to make the repayment in May 2022, people are getting out while they can still get something for them.
Its the investors that lose money but the price will make it harder for Wasps to refinance. If the markets fears that they can't repay in May 2022 turn out to be correct then its Wasps who are in trouble as the bonds are secured on the Ricoh lease.
Ahhh ok
Do wasps have to pay back in full?
If someone bought shares for 200 quid and now they only worth 77 pounds do wasps pay 200 or 77 at the end?
They should pay back the full price, so the 200 quid. Which of course then raises the question if you owned 200 quid worth of shares that Wasps were due to pay you £200 for in less than 2 years why would you sell them for £77 now?Ahhh ok
Do wasps have to pay back in full?
If someone bought shares for 200 quid and now they only worth 77 pounds do wasps pay 200 or 77 at the end?
They pay back £200 in that scenario.
Their commitment is to repay in full £35m in May 2022, the amount raised by the bond scheme, and 6.5% (£2.275m) each year in interest payments to the bond holders until then.
What Are Junk Bonds and How are Junk Bonds Rated?Why are people selling them if you get your money back at the end seems madness
Don't recall any confirmation it was fixed. Do recall them saying it was routine maintenance which didn't ring true to me. Calling in structural engineers to investigate cracks in stadium walls doesn't sound routine to me.So the stadium is falling apart anyway, did they fix that?
Don't recall any confirmation it was fixed. Do recall them saying it was routine maintenance which didn't ring true to me. Calling in structural engineers to investigate cracks in stadium walls doesn't sound routine to me.
Good point, can anyone explain in simple terms how this works and why are investors selling.Why are people selling them if you get your money back at the end seems madness
Good point, can anyone explain in simple terms how this works and why are investors selling.
Im sure Dave knows more. I think people sell due due to confidence and if they don't think they will make anything back. As I assume was goes pop or default on the bond they don't get anything.
I could be totally wrong but I thought they got the stadium on default
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