Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3 (5 lettori)
- Creatore Discussione Joe Silver
- Data di Inizio
nik.sala
Money Never Sleeps
Si possono dire parolacce ?
Gallo Cedrone
Forumer storico
NoWay
It's time to play the game
azetaelle
investitore(s)qualificato
// EUR IG - Bayer Hybryd NC6 & NC10 //
IPT NC6 3.125%-3.25%
NC10 4%a
Books open, today's business
Issuer: Bayer Aktiengesellschaft
Ranking: Unsecured, deeply subordinated, senior to share capital only, pari passu with existing hybrid due 2105
Issuer Senior Ratings: A3 stable (M) / A- stable (S&P)
Expected Instrument Ratings: Baa2 (M) / BBB (S&P)
Anticipated Equity Credit: 50% (M) / 50% until first call date (S&P)
Currency: EUR
Size: Benchmark Benchmark
Maturity: 2075 2074
First Call Date: 1 July 2020 1 July 2024
1st Step (25bps) Date: 1 July 2024 1 July 2024
2nd Step (add. 75bps) Date: 1 July 2040 1 July 2044
Reset Dates: First Call Date and every 5 years thereafter
Settlement Date: 1 July 2014
Interest Rate: Fixed Rate until First Call Date, Reset Fixed rate equivalent to 5-yr swap rate + initial spread to m/s + step-up (when applicable, see above), payable annually
Call Schedule: Par call at First Call Date & annually thereafter
Optional Deferral: Optional, cash cumulative interest deferral (not compounding)
Arrears of Interest: Issuer option to pay in whole but not in part at any time, and due in full on the earlier of i) a payment made on (or repurchase of) junior or parity obligations ii) Issuer pays on the Notes, iii) redemption of the Notes, iv) liquidation of the Issuer
Special Event Call: Gross-up Event, Minimum Outstanding Aggregate Principal Amount at par; Rating Event, Tax Deductibility Event at 101% before the First Call Date, at par thereafter
Acquisition Event Call: Issuer’s discretion at 101% (valid until earlier of (1) 31/03/2015, (2) closing of the acquisition, or (3) unless Bayer waives such right to call)
Replacement Provision: Intent-based language (non-binding)
Listing: Luxembourg Stock Exchange
Governing Law: German law
Denominations: € 1,000
Min Purchase Amount: € 100,000
Format / Docs: Reg S Bearer / Standalone
Structuring Adviser: BNP Paribas
Joint Bookrunners (active): Barclays, BNPP (B&D), Citi, HSBC
Use of Proceeds: Acquisition financing, GCP
Selling Restrictions: US (Reg S Cat 2 / TEFRA D); EEA (not approved for offers to the public - sales to Qualified Investors only)
IPT NC6 3.125%-3.25%
NC10 4%a
Books open, today's business
Issuer: Bayer Aktiengesellschaft
Ranking: Unsecured, deeply subordinated, senior to share capital only, pari passu with existing hybrid due 2105
Issuer Senior Ratings: A3 stable (M) / A- stable (S&P)
Expected Instrument Ratings: Baa2 (M) / BBB (S&P)
Anticipated Equity Credit: 50% (M) / 50% until first call date (S&P)
Currency: EUR
Size: Benchmark Benchmark
Maturity: 2075 2074
First Call Date: 1 July 2020 1 July 2024
1st Step (25bps) Date: 1 July 2024 1 July 2024
2nd Step (add. 75bps) Date: 1 July 2040 1 July 2044
Reset Dates: First Call Date and every 5 years thereafter
Settlement Date: 1 July 2014
Interest Rate: Fixed Rate until First Call Date, Reset Fixed rate equivalent to 5-yr swap rate + initial spread to m/s + step-up (when applicable, see above), payable annually
Call Schedule: Par call at First Call Date & annually thereafter
Optional Deferral: Optional, cash cumulative interest deferral (not compounding)
Arrears of Interest: Issuer option to pay in whole but not in part at any time, and due in full on the earlier of i) a payment made on (or repurchase of) junior or parity obligations ii) Issuer pays on the Notes, iii) redemption of the Notes, iv) liquidation of the Issuer
Special Event Call: Gross-up Event, Minimum Outstanding Aggregate Principal Amount at par; Rating Event, Tax Deductibility Event at 101% before the First Call Date, at par thereafter
Acquisition Event Call: Issuer’s discretion at 101% (valid until earlier of (1) 31/03/2015, (2) closing of the acquisition, or (3) unless Bayer waives such right to call)
Replacement Provision: Intent-based language (non-binding)
Listing: Luxembourg Stock Exchange
Governing Law: German law
Denominations: € 1,000
Min Purchase Amount: € 100,000
Format / Docs: Reg S Bearer / Standalone
Structuring Adviser: BNP Paribas
Joint Bookrunners (active): Barclays, BNPP (B&D), Citi, HSBC
Use of Proceeds: Acquisition financing, GCP
Selling Restrictions: US (Reg S Cat 2 / TEFRA D); EEA (not approved for offers to the public - sales to Qualified Investors only)
Zeus
Forumer attivo
Su Bawag ho provato più volte negli ultimi 40 gg. a vendere anche piccole quantità : mai spuntato prezzi operativi sopra i 98 ... Io non sono riuscito ad ottenere nulla di meglio, se qualcuno è riuscito meglio che lo posti per favore (anche con intermediario e controparti , chiedo troppo ? debbo fare il c..o al mio intermediario ...) .
Ognuno si farà il suo calcolo di convenienza economica su prezzo e tassazione al 20% o 26% .
Ognuno si farà il suo calcolo di convenienza economica su prezzo e tassazione al 20% o 26% .
Peco
Forumer storico
accreditata ieri con Binck
Rottweiler
Forumer storico
Legge sul bail-in....
Ecco il testo, in italiano, della BRRD, con la viva raccomandazione di dedicarle un po' di attenzione:
Ecco il testo, in italiano, della BRRD, con la viva raccomandazione di dedicarle un po' di attenzione:
Ilmigliore
Osserva e agisci
ancora nessuna traccia della cedola bmp 227?