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180... Really I can't see that, pure stab in the dark there!!
A lot of this is already priced in. Hence Goldman Sachs target.
They only need 500mn. They don’t need 3bn yet. This is the main reason shorts have not reduced and Goldman Sachs downgraded. The bod are extremely slow to act to market conditions. The best thing they could now do is sell the business.
Does all that means we could be heading downwards tomorrow?
Apologies, chat LSE is removing the link detail search on Google "Metro Bank Debt Bond" under news
Can't compare Metro to Sirius IMO. Metro has net assets of £1.76B compared to less than £500M market cap, and it is profitable. Sirius has net assets of £1B, with a market cap (before last week's debacle) also of £1B, but they were losing money and needed to fund a massive project that would take years to get anything from. So IMO, Sirius was a gamble, Metro is good business sense.
Here you go with the proper link, was removed from my post https://www.lse.co.uk/news/metro-debt-urgent-62h7rcd9i6c7z5z.html
I did a search on google for Metro Bank Debt Bond and it popped up half way down the page.
What will shorters and traders do when it’s announced that the target was exceeded? Already done over 175m by 2pm this morning. Big and quick uptake!
I got a few more last week. Now have 3,995 at avge exactly 500p. Must be fookin bonkers
HI All,
I'm new here and have been watching the forum for the last couple of weeks having invested at Metro, managed to get in around 250. Just saw the following which remind me of SXX https://www.lse.co.uk/news/metro-debt-urgent-62h7rcd9i6c7z5z.html
This has me worried
LONDON, Sept 23 (Reuters) - Troubled British lender Metro Bank said on Monday it will not proceed with a bond issue, blaming 'current market conditions'.
"Metro Bank PLC thanks the broad number of investors who have met with the company and shown interest in their potential inaugural MREL issuance. Given the current market conditions though Metro have elected to not proceed with a transaction at this time," the lender said in a statement.
The British challenger bank had launched the deal on Monday morning, looking to raise a minimum of 250 million pounds ($310.63 million) of debt to meet the minimum requirement for own funds and eligible liability (MREL) required by regulators.
The level of people getting panicked is crazy. I really don’t see the big story here. Looks perfectly acceptable to me.
The question I can't answer is why does Metro have a (relatively) low credit rating? Why do they need to offer 7.5% to sell the bonds? The balance sheet is strong and getting stronger by the day
I just realised, it is even more hilarious as half the world wasn't even awake from 9am uk to 2pm uk time!!
Read again "By 2pm UK time, the bank only had a book of around £175m for a deal targeted at £200m-£250m" Notice the added word "only" i am sure whoever put this out was either short or in the pocket of someone short. I could rewrite this and people would be jumping up and down.
"By 2pm UK time, the bank had already had a book of over £175, targeting £200m" Now look how that reads and how people would be reacting!
I really don’t Codey, everyday I read the posts on here, weep at my big losses and always come up with the same opinion - this share is always going to go up and down, down and up ;)
Trader like you and i COdey
Why you are panicking? Explain why it is rubbish? they were just 15% odd off by 2pm, could be well over 200m target now, they only started this morning ffs!!!
Cud you post/ramp more than anyone on here and twitter, don't tell me you are just trading and trying to spread fear.
CDTN- you planning to sell?
Expect zero profits going forward.
BY 2pm............looool as i said deal in facts and real news
Yes and only half the bloody story was posted! talk about creating a story -
Metro Bank was marketing its first series of non-preferred senior bonds at a coupon rate in the 7.5% area on Monday, as the UK challenger bank looked to assuage concerns about a number of clear risks overhanging its business. By 2pm UK time, the bank only had a book of around £175m for a deal targeted at £200m-£250m.
Metro Bank opened order books on a four year non-call three note in the sterling market on Monday morning.
They need to raise another 325m.
So people went on what one person posted with no proof? Wonder what their current position was, Brilliant loool
If no one wants to buy their equity at 28% of NAV, not surprised their coupon is so high and little take-up. What a mess.
If they are paying that on their senior notes what is the coupon on their junior notes?
Where you read that cud?