Monthly Archives: December 2019

The Debt of Amazon.

Amazon.com, the Ecommerce giant, has huge sales.

Total in 2018 was $ 141,366 Million.

The company carries debt.

https://ir.aboutamazon.com/static-files/0f9e36b1-7e1e-4b52-be17-145dc9d8b5ec

As of December 31, 2018, Amazon had $24.3 billion of unsecured senior notes outstanding.

2.60% Notes due on December 5, 2019 $1,000million

1.90% Notes due on August 21, 2020 $1,000million

3.30% Notes due on December 5, 2021 $1,000million

2.50% Notes due on November 29, 2022 $1,250million

2.40% Notes due on February 22, 2023 $1,000million

2.80% Notes due on August 22, 2024 $2,000million

3.80% Notes due on December 5, 2024 $1,250million

5.20% Notes due on December 3, 2025 $1,000million

3.15% Notes due on August 22, 2027 $3,500million

4.80% Notes due on December 5, 2034 $1,250million

3.875% Notes due on August 22, 2037 $2,750million

4.950% Notes due on December 5, 2044 $1,500million

4.050% Notes due on August 22, 2047 $3,500million

4.250% Notes due on August 22, 2057 $2,250million

Credit Facility $594million.

Other long-term debt $100million.

Total debt $24,942 million

Gresham House Energy Storage Fund: December 2019 Dividend.

The Gresham House Energy Storage Fund paid on the 20th December is quarterly dividend.

https://greshamhouse.com/real-assets/new-energy/gresham-house-energy-storage-fund-plc/

1p a share:-

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/GRID/14288697.html

The total number of voting rights of the Company is 204,270,650

Thus:- 204,270,650 x £0.01 = £2,042,706.50

That is £2m

Royal Dutch Shell: December 2019 Dividend.

Yesterday, Royal Dutch Shell paid out its quarterly dividend a share.

www.shell.com

Royal Dutch Shell is dual listed, Shell A and Shell B class of shares:-

[1] Royal Dutch Shell A FTSE 100 $0.47 (35.73p)

&

[2] Royal Dutch Shell B FTSE 100 $0.47 (35.73p)

Royal Dutch Shell plc´s capital as at 25 November 2019 consists of 4,191,452,034 A shares and 3,733,998,448 B shares, each with equal voting rights. Royal Dutch Shell plc holds no ordinary shares in Treasury

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RDSA/14322111.html

Thus:

4,191,452,034 A shares x 35.73p = £1,497,605,811.7482

3,733,998,448 B shares x 35.73p = £1,334,157,645.4704

£1,497,605,811.7482 + £1,334,157,645.4704 = £2,831,763,457.2186

That is £2,831 Million = £2.831 Billion.

Delicious.

The Debt of Netflix.

The world of television and films has changed with companies like Amazon Prime, Netflix who stream content to subscribers.

www.netflix.com is a pioneer in this arena.

Reading its annual report we can discover its level of debt.

https://s22.q4cdn.com/959853165/files/doc_financials/annual_reports/2018/Form-10K_Q418_Filed.pdf

$10,449 Million of Long Term debt, that has been accumulated through various bond isssues:

5.375% Senior Notes $500million issued in February 2013 matures in February 2021

5.50% Senior Notes $700million issued in February 2015 matures in February 2022

5.750% Senior Notes $400million issued in February 2014 matures in March 2024

5.875% Senior Notes $800million issued in February 2015 matures in February 2025

4.375% Senior Notes $1,000million issued in October 2016 matures in November 2026

3.625% Senior Notes $1,489million issued in May 2017 matures in May 2027

4.875% Senior Notes $1,600million issued in October 2017 matures in April 2028

5.875% Senior Notes $1,900million issued in April 2018 matures in November 2028

4.625% Senior Notes $1,260million issued in October matures in 2018

6.375% Senior Notes $800million issued in October 2018 matures in May 2029

Total $10,449 Million = $10.449 Billion

Look at the interest rates, in a climate of near zero rates, they are paying a high cost of capital.

A Tribute to Paul Volcker

Paul Volcker, the former head of the US central bank who was known for fighting inflation, has died at the age of 92. Appointed chair of the Federal Reserve in 1979, Mr Volcker dramatically raised interest rates to combat inflation. The move drove the US into recession, but was credited with creating the conditions for long-term growth. It also helped to burnish the bank’s reputation for independence. Mr Volcker’s tenure at the top of the Fed ended in 1987. More recently he had advised former US President Barack Obama on bank regulation following the financial crisis, overseen the return of money to Holocaust victims, and investigated a United Nations oil-for-food programme.

https://www.federalreserve.gov/newsevents/pressreleases/other20191209a.htm

“I am deeply saddened by the passing of Paul Volcker. He believed there was no higher calling than public service. His life exemplified the highest ideals–integrity, courage, and a commitment to do what was best for all Americans. His contributions to the nation left a lasting legacy. My colleagues and I at the Federal Reserve mourn this loss and send our condolences to his family”

https://www.youtube.com/watch?v=fTxECVof1GY

BlackRock Greater Europe Investment Trust plc

The BlackRock Greater Europe Investment Trust plc is a London listed investment trust.

https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00B01RDH75GBGBXSSMM.html?lang=en

The Company aims to provide capital growth, primarily through investment in a focused portfolio constructed from a combination of the securities of large, mid and small capitalisation European companies, together with some investment in the developing markets of Europe Its top ten holdings are:-

SAP Germany 7.0% of the fund

Safran France 6.8% of the fund

Adidas Germany 5.8% of the fund

Sika Switzerland 5.8% of the fund

Novo Nordisk Denmark 5.7% of the fund

Royal Unibrew Denmark 5.3% of the fund

Lonza Group Switzerland 4.6% of the fund

ASML Netherlands 4.6% of the fund

DSV Denmark 4.4% of the fund

RELX United Kingdom 4.4% of the fund

http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=104481&action=

1.5% yield

Norges Bank: Vodafone PLC

Norges Bank, the central bank of Norway, is one of the largest investment managers in the world.

www.nbim.no

It is due to Norges Bank is the investment manager to the Norway’s Sovereign Wealth Fund (the petroleum fund of Norway). Norges Bank Investment Management, has taken a 3% stake in Vodafone.

https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/VOD/14322109.html

Montanaro UK Smaller Companies Investment Trust PLC

The Montanaro UK Smaller Companies Investment Trust PLC is a London listed investment trust.

http://www.montanaro.co.uk/our-trusts/uk-smaller-companies-investment-trust/overview

The Trust aims to achieve capital appreciation through investing in small quoted companies listed on the London Stock Exchange or traded on the Alternative Investment Market (“AIM”) and to achieve relative outperformance of its benchmark, the Numis Smaller Companies Index (excluding investment companies) (“NSCI”).

Its top ten holdings are:-

Big Yellow Group 4.1% of the fund

4Imprint Group 4.1% of the fund

Marshalls 4.0% of the fund

Hilton Food Group 3.5% of the fund

Integrafin 3.5% of the fund

Polypipe Group 3.1% of the fund

James Fisher & Sons 2.9% of the fund

Brewin Dolphin Holdings 2.8% of the fund

Ideagen 2.8% of the fund

XP Power 2.8% of the fund

Total = 33.5% of the fund

http://www.shareshop.hsbc.co.uk/shareshop/security.cgi?csi=12895

3.2% yield