I finally took the plunge last week. I bought 2500 PIBS in Britannia 5.5555% PIBS (call 14/12/2015)at 60p which should give me a gross yield of around 9%. Not bad I thought. A bit of drama arose when I received a call from my stockbroker TDWATERHOUSE a few minutes after my purchase informing me that purchases could only be made in 1000 unit lots. I plumped for 3000 given that a 9% yield was just tooo juicy to resist.
Why Britannia? Well having just agreed a merger with the COOP I figure they were a pretty safe bet not to go bust.
I will be looking at topping up my holding in PIBS over the coming weeks and will keep you updated with my next purchase.
No comments:
Post a Comment