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Thread: BOND THREAD

  1. #1051
    Join Date
    Aug 2009
    Posts
    3,943

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    Quote Originally Posted by stl67
    btw, since bonds price are now so high would it be more attractive to go into some bond funds instead? the PIMCO bond funds is giving about 4.5%. Is this normal? Forgot the price I went in though. My banker is recommending that I top up since it is a better managed funds.

    I am also looking at a high yield fund manage by Neuberger Bergman. The bonds bought into are mostly junk bonds. Anyone holds any of this high yield funds? Can share share what are the pros and cons?

    The sales charge I am getting is 1% compare and I think this is quite attractive right?
    Sale charge 1% is very attractive, so far, I think this is the best you can get from the banks, as good as staff rate. But make sure, they don't cover back by way of higher leverage cost.

    HY bond funds, most of them are now trading at all time high and risk is getting high already. I am now looking into balanced funds and multi asset funds. Still waiting for more info to come in, I will then share with you.

    I will be off for two weeks for holiday next week, perhaps back here in early June.

  2. #1052
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    Aug 2009
    Posts
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    Evaluating a few now

    Pimco Diversified Income
    AB Gbl High Yield
    Templeton Gbl Total Return
    AB EM Debt
    Templeton EM bond
    First state dividend advantage

    Will start work again after holiday
    hopefully a meaningful correction in June

  3. #1053
    Join Date
    Mar 2008
    Posts
    693

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    Quote Originally Posted by Laguna
    Sale charge 1% is very attractive, so far, I think this is the best you can get from the banks, as good as staff rate. But make sure, they don't cover back by way of higher leverage cost.

    HY bond funds, most of them are now trading at all time high and risk is getting high already. I am now looking into balanced funds and multi asset funds. Still waiting for more info to come in, I will then share with you.

    I will be off for two weeks for holiday next week, perhaps back here in early June.
    Enjoy your holiday.
    Yah, let's hear from you when you are back. I buy 200k HY bond funds as a kicker. This is a decent percentage of the total portfolio size. Will readjust from time to time.

  4. #1054
    Join Date
    Jan 2011
    Posts
    1,081

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    Quote Originally Posted by stl67
    been a bit busy with my properties... architect giving me some headache..

    btw, since bonds price are now so high would it be more attractive to go into some bond funds instead? the PIMCO bond funds is giving about 4.5%. Is this normal? Forgot the price I went in though. My banker is recommending that I top up since it is a better managed funds.

    I am also looking at a high yield fund manage by Neuberger Bergman. The bonds bought into are mostly junk bonds. Anyone holds any of this high yield funds? Can share share what are the pros and cons?

    The sales charge I am getting is 1% compare and I think this is quite attractive right?

    I bought Junk bond 8.825% , Kaise Chinese developer 3 mths ago @101.8. Today price is 108. I have another Junk SGD Bond 10.25% Central china real esate. I bought @100.8. Now the price is 111.75.

    I nearly bought another Junk USD Perp bond Shui On 10.25% @101 But did not as my banker is asking to sign a form to inform me that I am taking concentration risk as I hv another Shui ON SGD 8% bond. Shui On 10.25% USD Perp bond price is now 105. So all the junk bond have already move up alot.


    Neuberger Bergman HY bond are concentrated in USA. Looking at the chart, there is a some correction in the HY bond fund. The capital appreciate will be limited but U will get the HY coupon payout every Q or yr. U got to watch out for any sudden increase in interest rate. I dont think U can hold long term for this fund.



    Bond Market Crash Will Strike By 2016, Expert Predicts By David Zeiler

    Not only is a bond market crash inevitable, but it will hit sooner than many think - by 2015 or 2016 at the latest, according to Michael Pento, president of Pento Portfolio Strategies.

    "It's the most overpriced, over-owned, oversupplied market in the history of American economics," Pento said of the bond market in an interview with The Street


    rdgs,
    Vic

  5. #1055
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    Mar 2008
    Posts
    706

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    Apparently 7x over-subscribed

    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    HSBC Institutional Trust Services ( Singapore ) Limited (in its capacity as trustee of First REIT)
    Status:
    Senior, unsecured
    Rating:
    Unrated
    Issue Size:
    TBD
    Format/Docs:
    Issuer's S$500M Multicurrency Medium Term Note Programme dated 11 April 2013
    Price Guidance:
    4.375% area, semi-annual, ACT/365 (Fixed)
    Tenor:
    5-year
    Denomination:
    SGD250K
    Governing Law:
    Singapore Law
    Listing:
    SGX-ST
    Clearing:
    CDP
    Selling Restrictions:
    Sections 274 and/or 275 of the Singapore SFA
    Bookrunners:
    HSBC / OCBC (B&D)
    Timing:
    As early as today's business
    Risk Rating:
    P4

    I have applied for 2 lots. Aim to stag.

  6. #1056
    Join Date
    Mar 2008
    Posts
    706

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    Commentary from Tradehaven:

    When I saw this, I really did not want to write much about it. Afterall, it is brought out by the bank who gave you Aspial.
    Details : 4Y NC3Y Coupon : 5.25%
    My thoughts were, looks like any Tom, Dick or Harry can issue bonds, huh ?
    As long as it is brought out by a reputable bank. YOU ARE NOT BUYING THE BANK'S REPUTATION, in case you don't know it.

    So I was chatting with an old friend and this is what he said, " Oxley total equity 154m, market cap 1 bn, debt/equity 7 times! wah lau like dat still can issue bonds....."
    Horror story : FINANCIAL LEVERAGE at 9.1 times looks WORSE THAN OLAM (4.9 times)!!!
    Muddy Waters, where are you ?
    They were sitting on a whole load of inventory (SGD 1.3 bio) as of Jun 2012 and only have 1 term loan of SGD 197 mio due in 2017. No wonder they need to boost their long term borrowings, which is not very little (SGD 809 mio as of Jun 2012).
    Only good thing is that they are tightly held new firm (listed in 2010) with not a lot of free float out there and linked to the Lian Beng Group.
    And there are some loose and convoluted financial covenants but remember what is happening with Aspial ?
    Financial Covenants :
    (i) Consol. Tangible Net Worth ≥S$175mil (until 31 Dec 2015) and ≥S$225mil (from 1 Jan 2016 onwards;
    (ii)Consol. Total Borrowings / Consol. Total Assets ≤0.75x (until 30 Jun 2016) and ≤0.70x (from 1 Jul 2016 onwards)
    Div Payout Restriction : Cash dividend payout ratio cannot exceed 25% of Consolidated EBITDA if the Debt/Equity Ratio is more than 4.0 times.

    And they are diversifying into Australia when the rest like Capitaland is exiting.
    I don't know what to say except that this should be in the HIGH YIELD categories ie. coupon >7%. But if folks think that 5.25% is good enough for the risk, then be my guest because I am hearing that books over 100 mio by now.


    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    Oxley Holdings Limited
    Status:
    Senior, unsecured
    Rating:
    Unrated
    Issue Size:
    TBD
    Format/Docs:
    Off Issuer's SGD300Millon Multicurrency Medium Term Note Programme
    Price Guidance:
    5.25% area
    Issue Price:
    100%
    Tenor:
    4NC3
    Call Option :
    The issuer may call, in whole but not in part, the Notes at 100.25 on the 6th interest payment date, together with the accrued interest
    Financial Covenants
    (i)Consol. Tangible Net Worth ≥S$175mil (until 31 Dec 2015) and ≥S$225mil (from 1 Jan 2016 onwards;
    (ii)(ii)Consol. Total Borrowings / Consol. Total Assets ≤0.75x (until 30 Jun 2016) and ≤0.70x (from 1 Jul 2016 onwards)
    Div Payout Restriction
    Cash dividend payout ratio cannot exceed 25% of Consolidated EBITDA if the Debt/Equity Ratio is more than 4.0 times.
    Denomination:
    SGD250K
    Governing Law:
    Singapore Law
    Listing:
    SGX-ST
    Clearing:
    CDP
    Selling Restrictions:
    Sections 274 and/or 275 of the Singapore SFA
    Sole Lead Manager:
    UOB
    Timing:
    As early as today's business
    Risk Rating:
    P4 - Sophisticated

    I applied for 1 lot. Not likely to get, but the allocation for First REIT is not out yet, so I don't want to be caught nekkid

  7. #1057
    Join Date
    Jan 2011
    Posts
    1,081

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    I may do ACCUMULATOR on HK2823 (China A share). A one period.

    Spot 10.56
    Daily buy price @ 88% of 10.56 = HK$9.28.
    Knock at 105% = 10.56X1.05% = HK$11.09
    If It fall below HK$9.28, I will need to buy double.

    Min amt to launch HK$3m.
    I will be sharing with another client who is also interested in HK2823 accumulator. Will come out HK$1.3m. If It fall below HK$9.28, I will need to come out > HK$1.3M.


    rdgs,
    Vic

  8. #1058
    Join Date
    Mar 2008
    Posts
    693

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    Quote Originally Posted by cbsh38584

    Neuberger Bergman HY bond are concentrated in USA. Looking at the chart, there is a some correction in the HY bond fund. The capital appreciate will be limited but U will get the HY coupon payout every Q or yr. U got to watch out for any sudden increase in interest rate. I dont think U can hold long term for this fund.


    Vic
    Thanks for the insight and sharing. Yes, Neuberger Bergman HY is mostly in US. The thing I like is that the bonds duration distribution are mostly on the 1-5 years region. Hopefully, the crash will not come so soon... I will put a note on this and tiem for the exit

    Today I got a structure for ABX/FCX :
    structure 6 months, 60% kickin, 85% strike, callable 100% monthly. Pays 17% p.a

    ABX last nite dropped 3%. I am not too concern about FCX. Been following on the news on both. 1 +ve sign i see in here http://seekingalpha.com/article/1408...rd-proposition

    I like to read the comments given by the public from SeekingAlpha. Gives me a better feel.

    So far comments on FCX is quite +ve. I got a 400k contract on USO/FCX and into my 2nd month. I am 4.3% away from being knocked out. Hope to have some bad news so that I can roll onto the 3rd month. I think i am getting too greedy liao.. but would remember all the forumers' advice.

    Last edited by stl67; 08-05-13 at 16:41.

  9. #1059
    Join Date
    Mar 2008
    Posts
    706

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    Some useful / relevant info:

    a. company presentation made yesterday

    b. extracts re launched and pipeline of pptys





    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    Oxley Holdings Limited
    Status:
    Senior, unsecured
    Rating:
    Unrated
    Issue Size:
    TBD
    Format/Docs:
    Off Issuer's SGD300Millon Multicurrency Medium Term Note Programme
    Price Guidance:
    5.25% area
    Issue Price:
    100%
    Tenor:
    4NC3
    Call Option :
    The issuer may call, in whole but not in part, the Notes at 100.25 on the 6th interest payment date, together with the accrued interest
    Financial Covenants
    (i)Consol. Tangible Net Worth ≥S$175mil (until 31 Dec 2015) and ≥S$225mil (from 1 Jan 2016 onwards;
    (ii)(ii)Consol. Total Borrowings / Consol. Total Assets ≤0.75x (until 30 Jun 2016) and ≤0.70x (from 1 Jul 2016 onwards)
    Div Payout Restriction
    Cash dividend payout ratio cannot exceed 25% of Consolidated EBITDA if the Debt/Equity Ratio is more than 4.0 times.
    Denomination:
    SGD250K
    Governing Law:
    Singapore Law
    Listing:
    SGX-ST
    Clearing:
    CDP
    Selling Restrictions:
    Sections 274 and/or 275 of the Singapore SFA
    Sole Lead Manager:
    UOB
    Timing:
    As early as today's business
    Risk Rating:
    P4 - Sophisticated

    I applied for 1 lot. Not likely to get, but the allocation for First REIT is not out yet, so I don't want to be caught nekkid

  10. #1060
    Join Date
    Aug 2009
    Posts
    3,943

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    Quote Originally Posted by Laguna
    Just applied the new IPO
    Hope can make some quick money 8%
    Omg
    48.8 times for retail

  11. #1061
    Join Date
    Mar 2008
    Posts
    706

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    Good luck. If you applied using UOB, you can set your internet banking to alert you by sms when the results are out. Usually around 3pm. Much earlier than DBS, etc.


    Quote Originally Posted by Laguna
    Omg
    48.8 times for retail

  12. #1062
    Join Date
    Mar 2008
    Posts
    706

    Default

    BT says:
    a. issue size $150m
    b. 17x subscribed

    Allocation not known yet.

    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    Oxley Holdings Limited
    Status:
    Senior, unsecured
    Rating:
    Unrated
    Issue Size:
    TBD
    Format/Docs:
    Off Issuer's SGD300Millon Multicurrency Medium Term Note Programme
    Price Guidance:
    5.25% area
    Issue Price:
    100%
    Tenor:
    4NC3
    Call Option :
    The issuer may call, in whole but not in part, the Notes at 100.25 on the 6th interest payment date, together with the accrued interest
    Financial Covenants
    (i)Consol. Tangible Net Worth ≥S$175mil (until 31 Dec 2015) and ≥S$225mil (from 1 Jan 2016 onwards;
    (ii)(ii)Consol. Total Borrowings / Consol. Total Assets ≤0.75x (until 30 Jun 2016) and ≤0.70x (from 1 Jul 2016 onwards)
    Div Payout Restriction
    Cash dividend payout ratio cannot exceed 25% of Consolidated EBITDA if the Debt/Equity Ratio is more than 4.0 times.
    Denomination:
    SGD250K
    Governing Law:
    Singapore Law
    Listing:
    SGX-ST
    Clearing:
    CDP
    Selling Restrictions:
    Sections 274 and/or 275 of the Singapore SFA
    Sole Lead Manager:
    UOB
    Timing:
    As early as today's business
    Risk Rating:
    P4 - Sophisticated

    I applied for 1 lot. Not likely to get, but the allocation for First REIT is not out yet, so I don't want to be caught nekkid

  13. #1063
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    Mar 2008
    Posts
    706

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    Today's issuance:

    Issuer:
    TML Holdings Pte. Ltd., a wholly owned subsidiary of Tata Motors Limited and with 100% ownership in Jaguar Land Rover Automotive plc
    Status:
    Fixed Rate Senior Notes
    Rating:
    Unrated
    Issue Size:
    SGD Benchmark
    Format/Docs:
    Regulation S, Section 274 and 275 of the SFA in Singapore
    Initial Guidance:
    4.50% area
    Issue Price:
    TBA
    Tenor:
    5 Years
    Change of Control:
    Change of Control put at 101%
    (i) if Tata Motors Limited ceases to control the Issuer or hold (directly or indirectly) at least 51% of the Issuer's voting stock; and/or
    (ii) if the Issuer ceases to control Jaguar Land Rover Automotive Plc or hold (directly or indirectly) at least 51% of the voting securities of Jaguar Land Rover Automotive Plc
    Debt Service Reserve Amount The Issuer will maintain a SGD-denominated ("DSRA"): interest service reserve account and ensure that the amount standing to that account is at all times not less than an amount equal to the next coupon payment on all Notes
    Denomination:
    SGD250k x SGD250k
    Governing Law:
    English Law (charge over DSRA governed by Singapore law)
    Listing:
    SGX-ST
    Clearing:
    CDP
    UOP:
    Redemption of preference shares issued to Tata Motors Limited and general corporate purposes
    Joint Lead Managers
    ANZ, Citigroup, Deutsche Bank (B&D)& Standard Bookrunners: Chartered Bank
    Timing:
    As early as today's business

  14. #1064
    Join Date
    Mar 2008
    Posts
    706

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    Commentary from Tradehaven

    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    TML Holdings Pte. Ltd., a wholly owned subsidiary of Tata Motors Limited and with 100% ownership in Jaguar Land Rover Automotive plc
    Status:
    Fixed Rate Senior Notes
    Rating:
    Unrated
    Issue Size:
    SGD Benchmark
    Format/Docs:
    Regulation S, Section 274 and 275 of the SFA in Singapore
    Initial Guidance:
    4.50% area
    Issue Price:
    TBA
    Tenor:
    5 Years
    Change of Control:
    Change of Control put at 101%
    (i) if Tata Motors Limited ceases to control the Issuer or hold (directly or indirectly) at least 51% of the Issuer's voting stock; and/or
    (ii) if the Issuer ceases to control Jaguar Land Rover Automotive Plc or hold (directly or indirectly) at least 51% of the voting securities of Jaguar Land Rover Automotive Plc
    Debt Service Reserve Amount The Issuer will maintain a SGD-denominated ("DSRA"): interest service reserve account and ensure that the amount standing to that account is at all times not less than an amount equal to the next coupon payment on all Notes
    Denomination:
    SGD250k x SGD250k
    Governing Law:
    English Law (charge over DSRA governed by Singapore law)
    Listing:
    SGX-ST
    Clearing:
    CDP
    UOP:
    Redemption of preference shares issued to Tata Motors Limited and general corporate purposes
    Joint Lead Managers
    ANZ, Citigroup, Deutsche Bank (B&D)& Standard Bookrunners: Chartered Bank
    Timing:
    As early as today's business

  15. #1065
    Join Date
    Mar 2008
    Posts
    706

    Default

    I applied 2 lots in the end. Got allocated 1 lot.

    Quote Originally Posted by starrynight
    Today's issuance:

    Issuer:
    Oxley Holdings Limited
    Status:
    Senior, unsecured
    Rating:
    Unrated
    Issue Size:
    TBD
    Format/Docs:
    Off Issuer's SGD300Millon Multicurrency Medium Term Note Programme
    Price Guidance:
    5.25% area
    Issue Price:
    100%
    Tenor:
    4NC3
    Call Option :
    The issuer may call, in whole but not in part, the Notes at 100.25 on the 6th interest payment date, together with the accrued interest
    Financial Covenants
    (i)Consol. Tangible Net Worth ≥S$175mil (until 31 Dec 2015) and ≥S$225mil (from 1 Jan 2016 onwards;
    (ii)(ii)Consol. Total Borrowings / Consol. Total Assets ≤0.75x (until 30 Jun 2016) and ≤0.70x (from 1 Jul 2016 onwards)
    Div Payout Restriction
    Cash dividend payout ratio cannot exceed 25% of Consolidated EBITDA if the Debt/Equity Ratio is more than 4.0 times.
    Denomination:
    SGD250K
    Governing Law:
    Singapore Law
    Listing:
    SGX-ST
    Clearing:
    CDP
    Selling Restrictions:
    Sections 274 and/or 275 of the Singapore SFA
    Sole Lead Manager:
    UOB
    Timing:
    As early as today's business
    Risk Rating:
    P4 - Sophisticated

    I applied for 1 lot. Not likely to get, but the allocation for First REIT is not out yet, so I don't want to be caught nekkid

  16. #1066
    Join Date
    Mar 2008
    Posts
    706

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    From Reuters:

    Singapore's yield-starved investors are buying riskier bonds in a move that is allowing many smaller companies to issue debt for the first time, IFR reported.


    Auric Pacific Group, best known as the owner of food courts offering cheap meals to Singapore's workers, is set to join a growing number of small and mid-cap companies hoping to appeal to fixed-income investors when it serves up its first offering from a $500 million debt programme.


    While Auric's share price has doubled over the past 12 months, its market cap of $161 million makes it one of the smallest companies to try a bond sale. But it is far from the only issuer to spot an opportunity.


    Persistently low interest rates in Singapore are forcing investors to look beyond investment-grade bonds, with at least five small and medium-sized enterprises completing local debuts since March.


    The five-year benchmark government bond was yielding 0.49 per cent last Thursday, while consumer prices in March were up 3.5 per cent on the previous year.


    Oxley Holdings, a mid-cap property developer, provided the latest indication of that hunger for yield last Wednesday with a $150 million, 5.1 per cent bond that attracted orders of more than $1.7 billion.


    Hong Fok, another developer, had already offered evidence of the trend. The issuer attracted orders in excess of $320 million for its $120 million, 4.75 per cent debut in March. Raffles Education, another small-cap, has come to market twice this year via an $80 million, 5.8 per cent deal in February and a $50 million, 5.9 per cent offering late last month.


    Companies of Oxley's size have traditionally relied on Singapore's bank loan market, while the city's fixed-income investors have tended to prefer rated, investment-grade issues or companies with larger market capitalisations.
    The rush of financings from these smaller companies, however, shows that dynamic is changing.


    "In a sense, the loan desks are now competing with the debt capital markets desks for business from these small companies," said one loans banker.


    Alongside Auric, companies including Tuan Sing Holdings, Nam Cheong and Tat Hong Holdings are gearing up for their first bond sales after setting up medium-term note programmes in the past few weeks. The biggest of those, crane leasing company Tat Hong, has a market cap of US$744 million (S$921 million).


    The enthusiastic response to this year's high-yield deals shows that fixed-income buyers are moving down the credit curve in search of higher returns.


    While that allows companies to improve their funding flexibility and access a wider investor base, it also raises the risks for the local fund managers and private bank clients who buy the debt.


    Singapore bond buyers are more accustomed to studying the credit risk on large, frequent issuers such as the state-backed National University of Singapore, but many of those large-cap companies pre-funded much of their 2013 needs when borrowing rates plunged last year.


    Moving down the credit curve comes with an obvious appeal. While Oxley paid 5.1 per cent on its bonds, NUS - one of the few investment-grade issuers in the Singapore dollar market this year - priced a five-year bond in January at a yield of 1.028 per cent.


    Meanwhile, the yield on the five-year Singapore government benchmark hit a record low of 0.31 per cent in January and was still below 0.5 per cent last Wednesday. The 10-year benchmark dropped below 1.5 per cent for the first time last year and was at 1.47 per cent last Wednesday, close to last December's record low of 1.29 per cent.


    Such low interest rates have made the bond market competitive even against cheap bank debt from Singapore's deposit-rich lenders.


    Senior unsecured bonds also offer greater operational flexibility over bank loans, where smaller borrowers are often required to pledge assets as security or collateral against the debt.


    "This allows SMEs to diversify not only their funding sources but also the structures of their debt portfolios," said one Singapore-based banker.


    The added flexibility has a cost. Small companies pay a premium of some 50 to 100 basis points for the unsecured structures, although bankers argue the benefits of bullet repayments and flexibility outweigh the additional cost. A basis point is equal to 0.01 per cent.


    Should interest rates remain near historic lows, Auric is unlikely to be the only one to find hungry investors queueing up for more.


    Reuters

  17. #1067
    Join Date
    Jan 2011
    Posts
    1,081

    Default

    Quote Originally Posted by stl67


    Thanks for the insight and sharing. Yes, Neuberger Bergman HY is mostly in US. The thing I like is that the bonds duration distribution are mostly on the 1-5 years region. Hopefully, the crash will not come so soon... I will put a note on this and tiem for the exit

    Today I got a structure for ABX/FCX :
    structure 6 months, 60% kickin, 85% strike, callable 100% monthly. Pays 17% p.a

    ABX last nite dropped 3%. I am not too concern about FCX. Been following on the news on both. 1 +ve sign i see in here http://seekingalpha.com/article/1408...rd-proposition

    I like to read the comments given by the public from SeekingAlpha. Gives me a better feel.

    So far comments on FCX is quite +ve. I got a 400k contract on USO/FCX and into my 2nd month. I am 4.3% away from being knocked out. Hope to have some bad news so that I can roll onto the 3rd month. I think i am getting too greedy liao.. but would remember all the forumers' advice.
    Back from COSTA cruise holiday.
    FCN 6 mths is too long. Dont invest too big amt on FCN. It will be a matter of time U will get burn. If U think FCX is a buy at your tgt level. It is better to buy direct instead of doing FCN.

    It is better for U to open a E-trade acct to do FCN/ELN. The premiun pays to U is >12% better & start date is immediate. U can take profit or cut lost at anytime U like. Dont hv to wait till maturity.


    =============================
    Today I got a structure for ABX/FCX :
    structure 6 months, 60% kickin, 85% strike, callable 100% monthly. Pays 17% p.a

    High chances that it may get K.O after ABX >50% drop from US$39 from NOV12. I will check with my banker.

    Why dont U get your banker to quote another FCN on GOLDCORP inc to get a feel of the Gold sector outlook in the next 3-6 mths.

    ====================================
    There was a correction on the Perp bond in Jan13. It has now recovered. My USD OLAM 5.75% bond has recovered from low 86 to now 97.

    Those who dare to take risk to buy SGD Perp bond 7% OLAM at Low 78. It is now 92. Almost 18% or S$45k profit + coupon payout within 6 mths. I dont think I will buy bond this year. Will likely to buy apply for more IPO stocks or buy some good HK stocks.

    rdgs,
    Vic

  18. #1068
    Join Date
    Nov 2008
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    9,217

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    Anymore downside for gold a it closes this week at about 1436?

  19. #1069
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    Aug 2009
    Posts
    3,943

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    Recently an independent financial advisor has approached me for alternative investment, ie loan to SME with a rate of 12-15% pa, short term of 3 months to one year.

    I asked : any security
    Answer : yes, the plant and the assets, anyway, everything is done by the lawyer.
    Q : What happen if the company cannot pay ?
    A : high risk high return.

    I am concerned of this. I will not call this as a scam, but rather unprofessional for all the financial advisor to explain the risk involved.

  20. #1070
    Join Date
    Mar 2008
    Posts
    706

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    This one super high risk. Chances are they would have already charged their charge-able assets to the banks for loans, so a private lender would take subordinate security, i.e. next to useless.

    Plus, speaking as a lawyer, you will spend tens of thousands in legal fees to recover your debt, i.e. net-net you are possibly throwing good money after bad.

    Might have a Moneylenders Act issue as well.

    Quote Originally Posted by Laguna
    Recently an independent financial advisor has approached me for alternative investment, ie loan to SME with a rate of 12-15% pa, short term of 3 months to one year.

    I asked : any security
    Answer : yes, the plant and the assets, anyway, everything is done by the lawyer.
    Q : What happen if the company cannot pay ?
    A : high risk high return.

    I am concerned of this. I will not call this as a scam, but rather unprofessional for all the financial advisor to explain the risk involved.

  21. #1071
    Join Date
    Mar 2008
    Posts
    706

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    Damned if I know. But 1 view is here.

    Quote Originally Posted by DC33_2008
    Anymore downside for gold a it closes this week at about 1436?

  22. #1072
    Join Date
    Aug 2009
    Posts
    3,943

    Default

    Quote Originally Posted by starrynight
    This one super high risk. Chances are they would have already charged their charge-able assets to the banks for loans, so a private lender would take subordinate security, i.e. next to useless.

    Plus, speaking as a lawyer, you will spend tens of thousands in legal fees to recover your debt, i.e. net-net you are possibly throwing good money after bad.

    Might have a Moneylenders Act issue as well.
    omg, I just checked, the so called financial institute is not even registered with MAS

  23. #1073
    Join Date
    Mar 2008
    Posts
    693

    Default

    Quote Originally Posted by starrynight
    Damned if I know. But 1 view is here.
    I followed Tradeheaven for quite a few months. Stumbled on his blog while i was googling on some bonds realted stuffs. Like his opinion but sometime finds his angmo a bit difficult to understand. So got read at least once to get the point.
    In fact i sought of relied on his opinion whether to buy a bond or not. Just like the recent Oxley and also his view on Investment grade Italian Bank bond.

    I followed the other website SeekingAlpha as I am monitoring some US stocks and commodity. One of the is Apple. But MTB already.

    It would be nice if I can find some public opinion or Blogs on some funds related. Do you know of any?

  24. #1074
    Join Date
    Mar 2008
    Posts
    693

    Default

    Quote Originally Posted by cbsh38584
    Back from COSTA cruise holiday.
    It is better for U to open a E-trade acct to do FCN/ELN. The premiun pays to U is >12% better & start date is immediate. U can take profit or cut lost at anytime U like. Dont hv to wait till maturity.


    rdgs,
    Vic
    I visited E-trade and is convinced that the premium is definitely better than the bank. I don think they have dual counters Notes though. I did not sign up an account simply because I dont want to get hook/addicted. Sometime I also worried that I can become an internet gambler, so better dont touch it. Beside, when I am at home, I should spend time with my kids and if got spare time check on my propertimes investment and read up more on finacial investments. Once awhile I re-read this thread again and see if I have miss out some tips from some of the expert here - like yourself, Laguna, Chiaberry, Focus, amk, chestnut and many others. Everything is so convenient with tablet.

    I will still do a little bit of FCN/ELN as I want to have a balance of products. I will cutdown once the contracts get KO. But will re-consider if there is something really attractive as I need some 'Kicker'. In other words, a small proportion of my portfolio is used for higher risk products.

  25. #1075
    Join Date
    Mar 2008
    Posts
    693

    Default

    Quote Originally Posted by starrynight
    Damned if I know. But 1 view is here.
    Was reading this last nite though most of us will expect the impact of money printing
    http://seekingalpha.com/article/1427...o?source=yahoo

  26. #1076
    Join Date
    Jan 2011
    Posts
    1,081

    Default

    When Credit Sui recommends the below FX Aus Usd trade. I suspect Aus will weaken. Furthermore, I get some info that Soros is shorting Aus mths ago. I do not know who is the issuer. It could be Goldman sach , JP morgan etc. All foreign banks are very good at selling "bad investment idea to those inexperience investors in the private banking. Let observe the below trade & see how it preform.

    I Rejected >90% of their investment recommendation from CS. I will ask Credit Sui my investment ideas & will get them to get quote for me.


    29th Apr13
    AUS USD SPOT 1.039
    12 Monthly Range Target Payout Forward on AUDUSD

    Underlying: AUDUSD
    Notional per Fixing: AUD 150,000 per fixing
    Max. number of fixing: 12
    Fixing Frequency: Monthly
    Target Redemption Cap Level (TRCL): 5 fixings within the range
    Range: 0.9825 – 1.0750
    Payout per fixing(if within range): USD 2k per Fixing

    How it works:
    • On every fixing,if AusUS fix within the range,client will receive USD 2k.
    • If AusUS has fixed within the range for 5 X, the structure will be KO’ed.
    • Risk if AusUsd fix at or <0.9825, client has to Buy AUD 150k at 0.9825.
    • Risk if AusUsd fix at or >1.0750, client has to Sell AUD 150k at 1.075


    rdgs,
    Vic

  27. #1077
    Join Date
    Mar 2008
    Posts
    706

    Default

    The other site I find useful to get "news" which you do not see in the mainstream media is Zerohedge.

    If you want gold info, Kitco is good for factual stuff.

    Quote Originally Posted by stl67
    I followed Tradeheaven for quite a few months. Stumbled on his blog while i was googling on some bonds realted stuffs. Like his opinion but sometime finds his angmo a bit difficult to understand. So got read at least once to get the point.
    In fact i sought of relied on his opinion whether to buy a bond or not. Just like the recent Oxley and also his view on Investment grade Italian Bank bond.

    I followed the other website SeekingAlpha as I am monitoring some US stocks and commodity. One of the is Apple. But MTB already.

    It would be nice if I can find some public opinion or Blogs on some funds related. Do you know of any?

  28. #1078
    Join Date
    Mar 2008
    Posts
    706

    Default

    today's issuance - 1 of 2

    Issuer
    IFC Development (Corporate Treasury) Limited
    Guarantor
    IFC Development Limited
    Issuer Ratings
    A2 stable (Moody’s) / A stable (S&P)
    Expected Issue Ratings
    A2 (Moody’s) / A (S&P)
    Status
    Senior, Unsecured
    Format
    Reg S, Registered form
    Tenor
    6 Year
    Issue Size
    US$ Benchmark
    Price Guidance
    2.6% area (T+180 Area; T~0.83%)
    Use of Proceeds
    Refinancing and other general corporate purposes
    Terms
    HKSE Listing, US$200k/1k Denoms, English Law
    COC
    101 put for Change of Control
    JGCs
    Bank of China , HSBC and Standard Chartered
    Joint Bookrunners
    Bank of China , HSBC, Standard Chartered (B&D), Citigroup, DBS Bank Ltd., Goldman Sachs, Mizuho Securities, Morgan Stanley, OCBC and UOB
    Timing
    As early as today

  29. #1079
    Join Date
    Mar 2008
    Posts
    706

    Default

    today's issuance - 2 of 2

    Issuer
    Bright Food Hong Kong Limited
    Guarantor
    Bright Food (Group) Co., Ltd.
    Guarantor Ratings
    Baa3 (Stable) by Moody's / BBB- (Stable) by S&P / BBB- (Stable) by Fitch
    Expected Issue Ratings
    Baa3 by Moody's / BBB- by S&P / BBB- by Fitch
    Status
    USD Fixed Rate Senior Unsecured Guaranteed Notes
    Format
    Reg S Registered
    Size
    US$ Benchmark
    Tenor
    5YR
    CoC
    Put at 101%
    Initial Guidance
    3.3% area (5-year Treasuries + 2.5% area; 5Y T~0.83%)
    Use of Proceeds
    Repaying existing indebtedness
    Details
    US$200k/1k denoms, HKEx listing, English Law
    JGCs
    BOC International, HSBC, The Royal Bank of Scotland
    JLMs and JBRs
    ANZ, Bank of Communications Co., Ltd. Hong Kong Branch, Barclays, BOC International, HSBC, ING, J.P. Morgan,National Australia Bank, Rabobank International, The Royal Bank of Scotland
    B&D
    BOC International
    Timing
    As early as today

  30. #1080
    Join Date
    Oct 2012
    Posts
    460

    Default

    The yields are getting more and more pathetic...
    When you have eliminate the impossible, whatever remains, however improbable, must be the truth

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