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FINANCIAL CHRONICLE™ » FINANCIAL CHRONICLE™ » MBSL Debenture Issue 2013

MBSL Debenture Issue 2013

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1MBSL Debenture Issue 2013 Empty MBSL Debenture Issue 2013 Tue Mar 12, 2013 1:56 pm

Dishan


Equity Analytic
Equity Analytic
Dear All,


MBSL Debenture Issue Prospectus can download on the following link.

http://www.mbslbank.com/downloads

2MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 2:16 pm

Zero1


Equity Analytic
Equity Analytic
What is the interest rate bro?

3MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 2:27 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
for lazy people
Type A- 5 Year Debentures carrying Interest @17.50% p.a payable Annually
Type B- 4 Year Debentures carrying Interest @17.25% p.a payable Annually
Type C- 5 Year Debentures carrying Interest @16.70% p.a payable Quarterly
Type D- 5 Year Debentures carrying Interest @16.50% p.a payable Monthly

I think this will impact negatively in PLC as this is more retailer friendly in allocation



Last edited by salt on Tue Mar 12, 2013 3:24 pm; edited 19 times in total

4MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 2:32 pm

Dishan


Equity Analytic
Equity Analytic
Type A- 5 Year Debentures carrying Interest @ 17.50% p.a payable Annually

Type B- 4 Year Debentures carrying Interest @ 17.25% p.a payable Annually

Type C- 5 Year Debentures carrying Interest @ 16.70% p.a payable Quarterly

Type D- 5 Year Debentures carrying Interest @ 16.50% p.a payable Monthly

5MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 3:09 pm

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
Those who cant apply for PLC denentures , have the opportunity to apppy to this. Minimum subscription is 100 debentures.

6MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 3:13 pm

sampathpf


Stock Analytic
Stock Analytic
How about Ratings?

7MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 3:36 pm

salt

salt
Vice President - Equity Analytics
Vice President - Equity Analytics
http://www.ram.com.lk/reports/1341552806.pdf

Merchant Bank of Sri Lanka PLC - Rating Review 2012: AA-/P1 (Stable Outlook)
RAM Ratings Lanka

no ratings from Fitch Lanka or ICRA Lanka

8MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 4:01 pm

yaka

yaka
Manager - Equity Analytics
Manager - Equity Analytics
can some 1 explain me what is "unsecured" mean since i'm new.and plz any advise is it safe and profitable to invest on this?

9MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 4:20 pm

sampathpf


Stock Analytic
Stock Analytic
Thanks "Salt"
I think MBSL - Debentures more targeting on Retailers compare to PLC Debentures

10MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 5:22 pm

Chinwi

Chinwi
Associate Director - Equity Analytics
Associate Director - Equity Analytics
@yaka,
unsecued means in a failure of the company your investment is lost. For Secured debentures undrwriting agency pays you if the company failed.
eg. Vanik failed to pay back matured debentures and people lost millions. They also issued secured debentures and underwriters HSBC? paid the debenture holders.
Usually unsecured come with high interest and secured with lower int .

11MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 6:00 pm

sampathpf


Stock Analytic
Stock Analytic
I think I Unsecured mean "not be secured by an any specific assets of the Company"

12MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 6:13 pm

yaka

yaka
Manager - Equity Analytics
Manager - Equity Analytics
thnx a lot chinwi. and if so is it safe to invest money on this particular debenture ?

13MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 10:21 pm

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@yaka wrote:thnx a lot chinwi. and if so is it safe to invest money on this particular debenture ?
This company is backed by state banking giant BOC, In CSE, not many debentures got defaulted, Vanik is the only rotten debenture I saw, does Chinwi know any other ?
However debentures arw generally much more safer than stocks.

14MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Tue Mar 12, 2013 11:49 pm

Liber Abaci


Senior Equity Analytic
Senior Equity Analytic
@yaka wrote:can some 1 explain me what is "unsecured" mean since i'm new.and plz any advise is it safe and profitable to invest on this?

"unsecured " - I also tend to agree with sampath pf .......unsecured means not secured by any specific asset of the company. Normally secure debentures are issued to a Bank, or to a single Institution backed by a mortgage of an asset. When debentures are issued to general public , normally it is unsecured, and the interest rate indicate the level of risk.

PROFITABILITY
- now in this case interest rate is fixed for next 4-5 years. So, you can compare it with other type of investments. As at now, since one year Bank FD rates are around 13%-15% this is profitable for the current year. If bank rates move above 17 % ( which has happened in the past ! ) in next 4-5 years you will loose. So you should have an opinion about interest movement during next 4-5 years.
Also, if you are confident that you can achieve more than , say 20% p.a through investment in stocks , this investment is not profitable enough.

SAFETY - If the company is unable to repay or goes bankrupt within the period, you won't get interest or capital. Look at their history, past performance, major shareholders and think about that possibility ,(there are opinions in this thread also). Generally MBSL debenture can be considered as secure.
On the other hand if your investment is in stocks , and if prices go down, you may not be able to recover the capital even.
So this is a trade-off between risk and return.

15MBSL Debenture Issue 2013 Empty Re: MBSL Debenture Issue 2013 Wed Mar 13, 2013 2:55 pm

WildBear


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
The biggest problem in corporate debt instruments is lack of licquidity in secondary market.We have to hold till maturity. I think trading platform is on progress. Hope debt trading become popular among Sri Lankan investors.

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