Good News - posted on DW

[Neils]

WASPS FINANCE PLC

£35,000,000 6.50 PER CENT. SECURED BONDS DUE 13 MAY 2022

(ISIN: XS1221940510, COMMON CODE: 122194051)

Update on proposed refinance, redemption and consent solicitation

Wasps Finance plc (the "Issuer") today provides an update on the refinancing and redemption of the Issuer's £35,000,000 6.50 per cent. Secured Bonds due 13 May 2022 (ISIN: XS1221940510, Common Code: 122194051) (the "Bonds").

On 29 July 2022, the Issuer stated its intention to seek an extension of the Bonds to allow time for the completion of the refinancing while also continuing to pursue alternative refinancing options.

The Issuer has made progress with these alternative options and confirms that it has received an offer which would see the Bonds fully redeemed on completion of this refinancing. Discussions with this lender are at an advanced stage.

The Issuer remains in discussions with the UK Listing Authority in relation to the re-listing and subsequent re-admission of the Bonds to the London Stock Exchange however there is no guarantee that this process will be concluded before the completion of this proposed refinancing.

In parallel with these discussions, the Issuer is proceeding with developing the proposed Bond terms to be amended as part of any consent solicitation memorandum, should these refinancing discussions not complete.

The Issuer acknowledges that this represents a further delay for Bondholders and thanks them for their continued patience. Bondholders will continue to receive interest for the period from 13 May 2022 on a half yearly basis until the date of redemption.

[Shugs]

This is great news.

[Bloke in North Dorset]

That does sound good.

I've just been doing a review of our pensions and savings with our financial advisor, I wish I could get 6.5% at the moment.

A cautionary note: I discussed it with my wife at lunchtime. She's just come to me a shown me advert she's just received on Instagram for investment strategies for those in retirement. I told to check her iPad mic settings as it was next to her as we talked and lo and behold the mic was on for Messenger.

[Peej]

I will have to take your word for it that it is good news as I don't really understand a word of that

[Bloke in North Dorset]

Although all the ts haven't been crossed and is dotted, the providers of the new finance are confident enough that the deal will close that they've allowed Wasps to make that statement to the current band holders.

It could still fall apart, but the fat lady has started gargling in preparation.

[Rossm]

I will have to take your word for it that it is good news as I don't really understand a word of that

You and me both, Peej

[RogerE]

Oh dear that means it looks like I'll soon stop getting 6.5% interest.

[SBSam]

If wasps pull this off, it is indeed good news for all Wasps supporters. Some of the bondholders aren’t happy that there is now no timetable though, and I suppose from their point of view there was pretty much a similar position with HSBC back in May.

[Heathen]

That does sound good.

I've just been doing a review of our pensions and savings with our financial advisor, I wish I could get 6.5% at the moment.

A cautionary note: I discussed it with my wife at lunchtime. She's just come to me a shown me advert she's just received on Instagram for investment strategies for those in retirement. I told to check her iPad mic settings as it was next to her as we talked and lo and behold the mic was on for Messenger.

If you have no one to leave your assets to (like us) then equity release is a no brainer.

[Bloke in North Dorset]

That does sound good.

I've just been doing a review of our pensions and savings with our financial advisor, I wish I could get 6.5% at the moment.

A cautionary note: I discussed it with my wife at lunchtime. She's just come to me a shown me advert she's just received on Instagram for investment strategies for those in retirement. I told to check her iPad mic settings as it was next to her as we talked and lo and behold the mic was on for Messenger.

If you have no one to leave your assets to (like us) then equity release is a no brainer.

We have a son and DiL who keep threatening grandchildren at some point. They might want to live in this house (a bungalow in a small village) so we’re hanging on.

He’s under no illusion though, we intend enjoying retirement. 

[westwaleswasp]

Retirement? Good luck to you.  Life is short, get out early, people.

The world is full of talentless 'leadership' arseholes who couldn't hang a picture or wire a plug, spending their time analysing, reviewing, and 'managing' vacuous transitions from exploration to implementation phases of project  'x' where x is a project to do what was being done 10 to 15 years ago with a new empty slogan on top and a few buzz words thrown in. Rinse and repeat five years down the line with a new project to create an illusion of prigress. They create more parasites to manage whilst the people actually doing the jobs slip further down the tree.
This is one reason why people in their 50s who can are leaving the workforce in record numbers. It has been going on for years - look back at satires like The Fall and Rise of Reggie Perrin and you can see it in the 70s, but the magnitude of it today is off the scale.
I love my job of teaching- well I love the lessons and the staff room talk- but I will be getting out as soon as I can afford to. I am lucky to have had the choice to work in the independent sector, which is often behind state in the bullshit, but it catches up eventually.

[SBSam]

Retirement? Good luck to you.  Life is short, get out early, people.

The world is full of talentless 'leadership' arseholes who couldn't hang a picture or wire a plug, spending their time analysing, reviewing, and 'managing' vacuous transitions from exploration to implementation phases of project  'x' where x is a project to do what was being done 10 to 15 years ago with a new empty slogan on top and a few buzz words thrown in. Rinse and repeat five years down the line with a new project to create an illusion of prigress. They create more parasites to manage whilst the people actually doing the jobs slip further down the tree.
This is one reason why people in their 50s who can are leaving the workforce in record numbers. It has been going on for years - look back at satires like The Fall and Rise of Reggie Perrin and you can see it in the 70s, but the magnitude of it today is off the scale.
I love my job of teaching- well I love the lessons and the staff room talk- but I will be getting out as soon as I can afford to. I am lucky to have had the choice to work in the independent sector, which is often behind state in the bullshit, but it catches up eventually.

For a moment there, I thought you worked in the NHS.