They were offering investors a choice of 0-7% per annum interest at inception April 2020. That attracted many non-Toot fans, when base rate at time was 0.10%. They would've selected 7%. Therefore its essential many of their own fans selected 0% of very low rate, otherwise they'd have to rely on volatile higher risk markets for good returns. Anyway if the cashing-in outweighs the capital available in April 2025, they will start another bond. This time 0-6%, at a time when investors rates and deals are likely to be much better than in April 2020 - not so much of a pull for non-Toot fans. Expect them to try reduce fan ownership from 75.1% to 50.1% (another Mr S Hammam please)- which will tear some of them apart. Therefore not a bellyacher, but still worth a bit of a laugh.
_________________ Anti-Labour Alliance
|