For some a while I have been investing in retail bonds. With yields in saving accounts being so poor these are an alternative. There is risk involved as they are a non-protected product and some of the companies issuing, although themselves listed, carry risk.

If you invest at inception not only do you get good yields but also the potential for a capital gain as generally they list on the LSE at a higher price when the initial offer closes. A good example is the Tesco 5% Bond which listed at 100p but is now priced at 103.5/104.45

http://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/company-summary.html?fourWayKey=XS0780063235ZZGBPUKCP

To learn some more about them go to :

http://www.londonstockexchange.com/prices-and-markets/retail-bonds/downloads/downloads.htm

http://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/retail-bonds-search.html

Also a good info site

http://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/retail-bonds-search.html

List of Retail bonds and yields:

http://www.londonstockexchange.com/traders-and-brokers/security-types/retail-bonds/orb-list-17052011.pdf

As an alternative to listed bonds here is one on offer. you are locked in for 5 years and is non-transferable, This pays 6% gross per annum. They deduct tax so ends up at 4.8% net.


https://www.nuffieldhealthbond.com/Application/Welcome.aspx

Another new issue paying 6% until 2020.

Helical Bar plc 6% 2020 Bond

I also have St Modwen's 6.25% bond

Canaccord sent this offer list round this morning:

Barclays 6.14% Perpetual/Callable 2015 50k (minimum) offered at 101 YTC 5.61% - if this bond is not called coupon steps to 5yr Gilt +2.8% - current spread 100/102 - BBB rated.

Lloyds (Chelt & Glouc) 11.75% Perpetual offered at 144 yielding 8.15% - LSE spread 134/154 - BB rated.

Coop 9.25% (CPBB) preference shares 8500(shs) offered at 63.75 yielding 14.5% - LSE spread 61.5/65.

Standard Chartered 8.25% (STAC) preference shares 10000(shs) offered at 125.5 yielding 6.57% - LSE spread 125/129

Barclays 6% Perpetual /Callable 2017 50k (minimum) offered at 89 YTC 9.06% - if this bond is not called coupon steps to Libor+1.42% - current spread 88/90.

Lloyds 9.25% (LLPC) preference shares 27500(shs) offered at 122.25 yielding 7.56% - LSE spread 120.5/124.

Santander 8.625% (SANB) preference shares 31500(shs) offered at 105.5 yielding 8.17% - LSE spread 103/108.

Aviva 8.375% (AV.B) preference shares 6250(shs) offered at 115.75 yielding 7.23% - LSE spread 113.5/118.

First come first served.

I'm quite a fan of bonds on a long-term view. I'm not holding my breath on capital growth but the steady yield is better than what you can get from the building societies.

For my sins I hold ELLA, ENQ1, GACA, ICG2, IPF1, LLPE, NWBD, PAG1, PF21, RCHA, SMP1 and TPR1

Neither Nuffield Health nor Helical Bar have received glowing endorsements and need careful examination in my view (as does CPBB in the Cannacord offer).

I find www.fixedincomeinvestor.com a useful site, especially the forum found via the Useful Links tab.

Bullie - It crosses my mind that if we are having a Bond thread (which is a rattling good idea) can we have the ORB bonds available to add to Stockwatch and Level 2 please?

The LSE site is very good for bond research.

Trust Net is good for Investment Trust etc.

TOK: I asked the same question of our developers earlier ;-0)

And answer came there...........?

I'm looking at these for my elderly mother, and liked the sound of the Nuffield one. The only problem I see is that it's a closed investment and you're locked in for the term. I think it may be better to get a tradeable one, but then I'm also wondering about getting her a self select ISA instead and managing it for her. She only has a few K to invest so should be able to stick it in an ISA.

TOK - where did you find out that the Nuffield one wasn't a great product? Was it on fixedincomeinvestor.com?

SC - There was a lot of discussion on fixedincome at the time which you can read here: http://www.fixedincomeinvestor.co.uk/x/forum.html#/discussion/98/nuffield-health-launches-6-bond

As I read it the main no-go points are that it is not tradeable nor ISAable.

PS How do I post links so that they are instantly clickable?

PSS My spell checker doesn't like all these "ables" - and neither do I.

Thanks TOK

To make the link clickable, copy the web address of the page you want to link to, then click on the chain image above the 'Add a post to this thread' box. Paste your web address into that and press OK. Hey presto. Your link is clickable.

Re the Nuffield health, I agree - I think I'll look for something tradeable and ISAable that's elderly motherable ;-)

Thanks SC. I'm comfortable with that.

SC -another one I looked at that may suit you is International Personal Finance PLC 6.125% 2020.

Cheers Skinny. That looks interesting on the face of it. Will investigate further.

IPF1, like many of the ORB bonds, has had a torrid month. But as the price falls so up goes the yield. If the slide continues a buying opportunity for income seekers unfolds if you are satisfied with the security of the parent company.

The only reason I didn't buy it, was that the issue was closed(early) before I had acted - its currently trading around the issue price.

Recent broker views on the parent.

Parent Chart.

What's the news on the ORB order book, Bullie? Are we going to get the prices?

TOK; George has done the work but not yet released it,I am hassling!

This is the current list George has populate. Level 1 price data is working ( charts not yet) , level 2 should be Ok tomorrow and stock quote search tomorrow

examplehttp://www.moneyam.com/shareprice/TSC5


ALPHA PLUS HOLDINGS PLC ALPHA PLUS 19 ALP1
ANGLIAN WATER SERVICES FINANCING PLC ANG.W.S.F.5.25% 69AU
ANGLIAN WATER SERVICES FINANCING PLC ANGLIANWTR6.875 40LV
ANHEUSER-BUSCH INBEV NV AB INBEV 6.50% 84RM
AVIVA PLC AVIVA 6.125%36£ AE57
B.A.T. INTERNATIONAL FINANCE PLC B.A.T.IF6.375% 48CT
BARCLAYS BANK PLC BARCLAYS.5.75% AA18
BEAZLEY PLC BEAZLEY 5.375% BE01
BP CAPITAL MARKETS PLC BP CAP. 14 59VB
BRITISH TELECOMMUNICATIONS PLC BR.TEL.5T%BDS28 72NS
BRITISH TELECOMMUNICATIONS PLC BR.TEL.8FE% 33GL
BRITISH TELECOMMUNICATIONS PLC BRIT.TEL.NTS16 42PU
CLS HOLDINGS PLC CLS HDGS 19 CLS1
COMPASS GROUP PLC COMPASS 7%BDS14 BC82
CO-OPERATIVE BANK PLC CO-OP.BK.5.5555 CPBA
COVENTRY BUILDING SOCIETY COVENTRY.6.092% CVB
DAILY MAIL & GENERAL TRUST PLC DMGT.5.75%18 80VA
EASTERN GROUP EAST.GP.8H%2025 93GR
EASTERN POWER NETWORKS PLC EAST.POWER5.75% 52GO
ENQUEST PLC ENQUEST 22 ENQ1
ENTERPRISE INNS PLC ENTER INNS 2018 47VU
EUROPEAN INVESTMENT BANK EIB 3% 2015 EIB
EUROPEAN INVESTMENT BANK EIB FRN 2015 96ML
EUROPEAN INVESTMENT BANK EURO.I.BK.16 EB16
EUROPEAN INVESTMENT BANK EURO.IV.8TBR 59GS
File download 11-Jun-2013 17:15:39
FIRSTGROUP PLC FIRSTGROUP6.125 80ZX
GE CAPITAL UK FUNDING GE CAP.UK 18 34MD
GE CAPITAL UK FUNDING GE CAP.UK 33 92VF
GE CAPITAL UK FUNDING GE CAP.UK5.625% 83IR
GKN HOLDINGS PLC GKN 6.75% BDS19 31OL
GLAXOSMITHKLINE CAPITAL PLC GLAXOSMSC 5.25% AG99
HAMMERSON PLC HAMMERSON 6%26 72VH
HAMMERSON PLC HAMMERSON 7Q%28 48LK
HAMMERSON PLC HAMMERSON6.875% 07OZ
HSBC BANK PLC HSBC BK. 2.875% HRMB
HSBC BANK PLC HSBC BK.5.375% 35LS
HSBC BANK PLC HSBC BK.6.5%NT2 BR06
ICAP PLC ICAP 5.50% IC55
IMPERIAL TOBACCO FINANCE PLC IMP.TOB.FIN.6Q 31ML
INTERMEDIATE CAPITAL GROUP PLC INT.CAP.GRP ICG7
INTERMEDIATE CAPITAL GROUP PLC INT.CAP.GRP20 ICG2
INTERNATIONAL PERSONAL FINANCE PLC INTER.PERS.20 IPF1
KINGFISHER PLC KINGFISHER5.625 52DJ
LBG CAPITAL NO.1 PLC LBG CAP 1 19 LB1I
LBG CAPITAL NO.1 PLC LBG CAP 1 20 LB1G
LBG CAPITAL NO.2 PLC LBG CAP 2 20 LB2Q
LEGAL & GENERAL FINANCE PLC LEG&GEN.5.875% 71PP
LEGAL & GENERAL GROUP PLC LEGAL&GEN.5.875 81CE
LLOYDS TSB BANK PLC LLOYDS 5.375% LBG1
LLOYDS TSB BANK PLC LLOYDS BK 5.50% LBG2
LLOYDS TSB BANK PLC LLOYDS BK. 25 61MP
LLOYDS TSB BANK PLC LLOYDS BK.5.875 AT03
LLOYDS TSB BANK PLC LLOYDS BK.6.625 45OY
LLOYDS TSB BANK PLC LLOYDS BK.9E5% 94HJ
LONDON POWER NETWORKS PLC LONDON POW.27 84YJ
LONDON STOCK EXCHANGE GROUP PLC LON.STK.EX21 LSE1
LONG NAME TIDM
MARKS & SPENCER PLC MARKS&SP.5.625% 48FD
MORGAN STANLEY MORGAN ST.5.375 68IH
NATIONAL GRID ELECTRICITY TRANSMISSION PLC NAT.GRID 5.875% BD56
NATIONAL GRID ELECTRICITY TRANSMISSION PLC NAT.GRID6.50%£ 47QK
NATIONAL GRID GAS PLC NAT.GRD.G 6% AI68
NATIONAL GRID PLC NAT.GRID BD 21 NG1Q
NATIONWIDE BUILDING SOCIETY NATIONWIDE.PIBS NABA
NORTHUMBRIAN WATER FINANCE PLC NTHNBN.WTR.6%17 AG41
PARAGON GROUP OF COMPANIES PLC PARAGON GP20 PAG1
PLACES FOR PEOPLE CAPITAL MARKETS PLC PLACES PEO 1% PFP1
PLACES FOR PEOPLE CAPITAL MARKETS PLC PLACES PEO 5% PFP5
PRIMARY HEALTH PROPERTIES PLC PRIMARY HLTH 19 PHP1
PROVIDENT FINANCIAL PLC PROV.FIN 7% 17 PF17
PROVIDENT FINANCIAL PLC PROV.FIN 7.5% PF16
PROVIDENT FINANCIAL PLC PROV.FIN6%21 PF21
PROVIDENT FINANCIAL PLC PROVIDENT 7.00% PFG7
PRUDENTIAL PLC PRU.6 7/8%2023 BC41
Retail Bonds data from http://www.londonstockexchange.com/exchange/prices-and-markets/retail-bonds/retail-bonds-search.html
ROLLS-ROYCE PLC ROLLS-R 7.375% 47PF
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC NTS17 RBRP
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC. 20 RBPX
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC. 2018 RBI2
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC. 22 RBLI
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC. 22 RBPI
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC.18 RBSU
ROYAL BANK OF SCOTLAND PLC ROY.BK.SC.20 RB51
RSA INSURANCE GROUP PLC RSA INS. 8.5%S 35VK
SAFEWAY PLC SAFEWAY 6.00% AG93
SAFEWAY PLC SAFEWAY 6.125% 92NE
SAFEWAY PLC SAFEWAY 6H%NT14 92OD
SCOTTISH POWER UK PLC SCOT.PWR.UK8TE% BL23
SEGRO PLC SEGRO 6%19 56GP
SEGRO PLC SEGRO. 6.25% 51NL
SEGRO PLC SEGRO.5.75 52VE
SEGRO PLC SEGRO.6.75 BO46
SEGRO PLC SEGRO5.50% 32BL
SEVERN TRENT PLC SEVERN T.22 SVTL
SEVERN TRENT UTILITIES FINANCE PLC SEVERN T.6E% 83NL
SEVERN TRENT UTILITIES FINANCE PLC SEVERN T.6Q%BD 41NW
SEVERN TRENT UTILITIES FINANCE PLC SEVERN T5.25% 64IV
SMITHS GROUP PLC SMITH IND 7.25% 40PD
SSE PLC SSE.5.875% BC18
ST.MODWEN PROPERTIES PLC ST.MODWEN 19 SMP1
TESCO PERSONAL FINANCE PLC TESCO PF 1% TS1L
TESCO PERSONAL FINANCE PLC TESCO PF 5% TSC5
TESCO PERSONAL FINANCE PLC TESCO PF 5.2% TS52
TESCO PLC TESCO 6%NT29 40OS
TESCO PLC TESCO5.50% NT19 31CL
TULLETT PREBON PLC TULLETT 5.25% TPR1
UBS AG UBS 16 43MB
UNILEVER PLC UNILEVER 4.00% 38XI
UNILEVER PLC UNILEVER 4.750% 51TJ
UNITE GROUP PLC UNITE GRP 20 UTG1
UNITED UTILITIES WATER PLC UTD WTR. 5.375% 39OI
UNITED UTILITIES WATER PLC UTD WTR.5.625% 47UV
VODAFONE GROUP PLC VODAFONE 5.90% VO32
VODAFONE GROUP PLC VODAFONE NTS25 VO25
WESSEX WATER SERVICES FINANCE PLC WESSEX W.S.5.75 68OP
WORKSPACE GROUP PLC WORKSPACE 6% WKP1

Excellent news. Many thanks Bullie.

Nice addition Mike.