partridge
- 27 Jul 2016 14:32
A different sort of newcomer bank. Formerly Kent and Reliance Building Society, most of their funding is from retail deposits and balance sheet is more easily understood than the impenetrable ones of the big banks. Heavily into the buy to let sector of lending, so rapid growth last two years likely to tail off, but nothing wrong with a good cash cow. Yield should be around 5% this year. I have bought a modest holding but always dyor.
Stan
- 07 Apr 2017 22:55
- 10 of 42
Norges Bank go's over 3% after hours.
Stan
- 08 Apr 2017 08:58
- 12 of 42
Thanks E/L which one the 1st or 2nd?
Stan
- 24 May 2017 18:51
- 13 of 42
PRESS RELEASE
24 May 2017
Accelerated bookbuild offering of approx. 24.3 million existing shares in OneSavings Bank Plc
Citigroup Global Markets Limited ("Citi") and Credit Suisse Securities (Europe) Limited ("Credit Suisse") announce the launch of an accelerated bookbuild offering to institutional investors (the "Transaction") of approximately 24.3 million existing ordinary shares in OneSavings Bank Plc ("OneSavings Bank") (representing approximately 10% of OneSavings Bank's issued share capital) on behalf of funds managed and advised by J.C. Flowers & Co. LLC (the "JCF Funds").
Bookbuilding will commence immediately. Citi and Credit Suisse are acting as joint global coordinators and joint bookrunners in the Transaction. N M Rothschild & Sons Limited ("Rothschild") is acting as the sole financial adviser to J.C. Flowers & Co. LLC on the Transaction. A further announcement will be made following completion of the bookbuilding and pricing of the Transaction.
In parallel with the bookbuild, a number of existing ordinary shares in OneSavings Bank held on behalf of the JCF Funds equal to approx. 6% of the number to be sold under the bookbuild process ("Investor Shares") will be distributed to certain investors in the JCF Funds ("Investors"). For the avoidance of doubt, these Investor Shares are separate from and would be distributed in addition to the shares to be sold under the bookbuild arrangements.
Lock-up commitments for the period of 90 days from the closing of the Transaction, subject to certain customary exceptions, will be given by the JCF Funds.
Citi and Credit Suisse, in their capacity as joint global co-ordinators and bookrunners for the placing of ordinary shares in OneSavings Bank by the JCF Funds which completed on 28 March 2017, have consented to the Transaction and in doing so have agreed, with respect to the shares to be sold in the Transaction, to waive the lock-up restrictions which otherwise apply to such ordinary shares until 28 June 2017.
OneSavings Bank will not receive any proceeds from the Transaction.
Translation please anyone?
partridge
- 25 May 2017 11:02
- 14 of 42
This comes a few days after a £60M issue of Fixed Rate, Resetting, Perpetual, Subordinated, Contingent Convertible Securities. Initial interest rate of 9.125% p.a. looks strange to me. Hope they know what it all means. I liked the relatively simple way this business operated, but have now banked very decent profit. Always dyor.
Stan
- 25 May 2017 12:29
- 15 of 42
Seems a very wise move to me Partridge.
Stan
- 24 Aug 2017 07:20
- 16 of 42
Interims:
http://www.moneyam.com/action/news/showArticle?id=5638683
PS: Can you put a chart in your header please Partridge?
partridge
- 24 Aug 2017 10:38
- 17 of 42
Too old and technically incompetent Stan (born not far from Burnley). Lost a bit of interest in these and sold after that strange bond issue. Never could work out the relevance of charts, prefer looking at numbers.
Stan
- 21 Sep 2017 22:25
- 18 of 42
Chris Carson
- 22 Sep 2017 01:27
- 19 of 42
LATEST BROKER VIEWS
Date Broker New target Recomm.
7 Sep Credit Suisse 460.00 Outperform
4 Sep Peel Hunt 435.00 Add
31 Aug Barclays... 490.00 Overweight
25 Aug Numis 349.00 Reduce
24 Aug Peel Hunt 425.00 Add
24 Aug Numis 330.00 Reduce
24 Aug Shore Capital N/A Buy
24 Aug Liberum Capital 495.00 Buy
1 Aug Shore Capital N/A Buy
21 Jul Citigroup N/A Buy
Chris Carson
- 22 Sep 2017 01:49
- 20 of 42
CC
- 22 Sep 2017 12:28
- 21 of 42
Sector seems to be trying to turn back up again today. The algo's seem to be a bit more of a hurry to buy than usual
Chris Carson
- 22 Sep 2017 15:18
- 22 of 42
Chris Carson
- 22 Sep 2017 15:20
- 23 of 42
Stan
- 03 Oct 2017 17:17
- 24 of 42
Chris Carson
- 16 Oct 2017 08:16
- 25 of 42
LATEST BROKER VIEWS
Date Broker New target Recomm.
16 Oct Jefferies... 512.00 Buy
7 Sep Credit Suisse 460.00 Outperform
4 Sep Peel Hunt 435.00 Add
31 Aug Barclays... 490.00 Overweight
25 Aug Numis 349.00 Reduce
24 Aug Peel Hunt 425.00 Add
24 Aug Numis 330.00 Reduce
24 Aug Shore Capital N/A Buy
24 Aug Liberum Capital 495.00 Buy
1 Aug Shore Capital N/A Buy
Stan
- 16 Oct 2017 09:10
- 26 of 42
Have you chaps traded this one at all? spread looks reasonable.
Chris Carson
- 16 Oct 2017 09:14
- 27 of 42
Went long on the spreads Stan 5th @ 381p stop to entry.
Stan
- 16 Oct 2017 09:16
- 28 of 42
Thanks CC seems to be in a bit of range at the mo.
Chris Carson
- 20 Oct 2017 08:47
- 29 of 42
Breakout