HBOS debt looks good.
Investors Chronicle - magazine and web content, September, 2007
BOND OF THE WEEK: There are bargains in short-dated corporate bonds, including this one Mark Glowery
The credit crunch has squeezed interbank lending rates higher, with 3-month LIBOR peaking a week ago at 6.9 per cent, in spite of the Bank of England holding policy rates steady at 5.75 per cent. This squeeze has impacted the shorter end of the bond market, and yields on sub one-year debt have risen to reflect the returns available on the interbank market.
Thus, for investors looking for a high yield over a short time frame, pickings are now rich. We highlight the HBOS 6.375 per cent 3 April 2008 bond. Investors buying this instrument back in the days of low interest rates in 2003 would have settled for a yield to redemption of just 4 per cent. Now,...
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