Institutional holders23 Jan 2025 07:30
I just read the monthly update from CVCG, a high yielder in their own right, which I hold in my SIPP. Didn’t even know they were a holder! Among a load of doom and gloom about the UK economy it said:
“For the Company, the holding of Domestic and General 9.25% was refinanced into a 8 1/8% coupon. We rolled the majority of the holding into the new bond and invested the remainder in a new issue from Newcastle Building Society 14% perpetual to make up for the shortfall in income. We also participated in a new US dollar issue from Priority 1, an Irish logistics business, with a 12 5/8% coupon and a 3-year maturity. We continued to downsize the Company's holdings in the equities of Diversified Energy and Croma Group.“