Obbligazioni bancarie Banche irlandesi: newsflow, ratings, bonds. Il fronte irlandese dell'Euro.

[Zorba]

Bank of Ireland to Exchange 1.4 Billion Euros Notes

December 17, 2010, 11:14 AM EST
By John Glover and Joe Brennan
(Updates with capital gain in second paragraph.)
Dec. 17 (Bloomberg) -- Bank of Ireland, the nation’s biggest lender, said holders of 1.4 billion euros ($1.84 billion) of its subordinated bonds agreed to swap their notes at a discount as the lender seeks to raise capital.
The bank offered to exchange as much as 1.5 billion euros of its lower Tier 2 bonds for new, 6.75 percent state-guaranteed notes due 2012. The tenders, made at 46 percent to 57.5 percent of face value, will give the bank a capital gain of about 700 million euros to go toward the 2.2 billion euros of new capital regulators require it to hold.
Ireland passed legislation this week to force subordinated bondholders to “share the burden” of bailouts with taxpayers. Lenders in distress including Lloyds Banking Group Plc have used buybacks to raise capital, and Anglo Irish Bank Plc offered 20 cents on the euro for its subordinated debt.

 

[tommy271]

Ireland Says Domestic Bond Buying May Rise as Default Ruled Out

By Finbarr Flynn - Dec 17, 2010 4:59 PM GMT+0100 Fri Dec 17 15:59:00 GMT 2010


Ireland’s Social Protection Minister Eamon O’Cuiv said the government won’t default on its debts, as he laid out plans paving the way for the country’s pension funds to buy more of the nation’s bonds.

Legislation is set to be passed by the Irish parliament today to change funding standards that will make it easier for Irish pension funds to re-calculate liabilities based on the higher yielding bonds, O’Cuiv told reporters in Dublin today.

“What we are doing is providing greater opportunities for Irish pension schemes to invest not just in Irish bonds, but also in Ireland,” O’Cuiv said. “Irish sovereign debt will not be defaulted on, and there is no risk involved.”

Ireland’s credit rating was cut today five levels by Moody’s Investors Service and further downgrades are possible as the government struggles to contain losses in the country’s banking system. Irish lawmakers on Dec. 15 voted to accept an 85 billion-euro ($112 billion) aid package from European governments and the International Monetary Fund to stabilize the country’s finances as yields surged.

Irish defined-benefit pension funds guarantee their payments by buying annuities that typically invest in top-rated German bunds, which trade more frequently than their Irish counterparts.

Managers overseeing about 72 billion euros earlier this year lobbied the government to let them switch to annuities that can buy lower-rated local securities, and to cut pension payments in the event of a default on those investments.

The changes could generate over 10 billion euros in additional domestic buying of Irish government bonds in the next two years, analysts at Danske Bank A/S said in a note on Dec. 8.

Before the euro’s introduction in 2000, 70 percent of Irish bonds were held by local investors. The proportion has shrunk to about 15 percent, according to Dublin-based NCB Stockbrokers.

***
I fondi pensione: le ultime risorse.

 

[tommy271]

Cosa ci dicono i giornali italiani:

Moody’s «decapita» l’Irlanda E l’Fmi vede rischi di contagio - Economia - ilGiornale.it del 18-12-2010

Moody's taglia il rating irlandese - Il Sole 24 ORE


Personalmente, come ho avuto già modo di dirlo, non posseggo titoli irish in portafoglio.
Nonostante i numeri dicano l'opposto (da mesi, ora un pò meno) mi sono sentito sempre più "tranquillo" in Grecia.

 

[Zorba]

Irish State May Seize Full Control of AIB This Week, Post Says

By Finbarr Flynn - Dec 19, 2010 12:44 PM GMT+0100 Sun Dec 19 11:44:04 GMT 2010

Ireland may use new powers to take full control of Allied Irish Banks Plc as early as this week and will probably delist the lender, the Sunday Business Post said, citing unidentified people in the government.
The nationalization of AIB may be delayed if President Mary McAleese decides to send banking legislation, passed through parliament last week, to the Supreme Court for review, the newspaper said. The mechanism for injecting funds into the bank and the state’s total stake in the Dublin-based lender haven’t been decided, the Business Post said.
The government may initially provide as much as 4 billion euros ($5.3 billion) into Ireland’s second-largest bank, the newspaper said. Allied Irish may generate as much as 3 billion euros of new capital by buying back subordinated bonds at a deep discount, according to the newspaper.
A spokesman for Ireland’s Finance Ministry declined to comment on the report. Ronan Sheridan, a spokesman for the bank, declined to comment when contacted by Bloomberg News.
To contact the reporter on this story: Finbarr Flynn in Dublin at [email protected]
To contact the editor responsible for this story: Colin Keatinge at [email protected]

 

[tommy271]

Bce ha "gravi preoccupazioni" su pacchetto Irlanda

lunedì 20 dicembre 2010 08:25



LONDRA (Reuters) - La Banca centrale europea ha espresso "gravi preoccupazioni" in un opinion paper pubblicato sul proprio sito sul pacchetto di salvataggio approvato la scorsa settimana dal Parlamento irlandese: secondo Francoforte il provvedimento sarebbe in conflitto con i diritti della Bce sulla scelta del collaterale da accettare nelle operazioni di liquidità.
Il paper commenta la bozza del provvedimento e sottolinea come la "Bce abbia gravi preoccupazioni circa il fatto che la bozza di legge abbia insufficienti basi legali su una serie di questioni critiche per l'Eurosistema". Tra queste "l'ambito dei diritti delle banche centrali sul collaterale fornito come garanzia a fronte della liquidità fornita come assistenza d'emergenza".

 

[tommy271]

IRLANDA: 51% DICE SI' A SALVATAGGIO, MA LESA SOVRANITA'




19:54 19 DIC 2010

(AGI) Dublino - Il 51% degli irlandesi si dice a favore del piano di salvataggio da 85 miliardi di euro, ma per il 56% il paese, accettando gli aiuti di Ue-Fmi, ha rinunciato alla sua sovranita'.
Lo rivela un sondaggio pubblicato ieri, secondo il quale solo il 37% degli irlandesi e' contrario al programma di aiuti e il 12% non si pronuncia, mentre il 33% non pensa a una cessione di sovranita' .

 

[tommy271]

Sempre intorno alle "preoccupazioni":

Irlanda La Bce è preoccupata per le garanzie delle banche - Economia - ilGiornale.it del 20-12-2010

 

[tommy271]

L'Irlanda ancora nell'occhio del ciclone: i dubbi della Bce sul pacchetto di salvataggio

Oggi in Borsa - Borsa Italiana

 

[Zorba]

Bank of Ireland $2 Billion Plan to Finish This Week, Times Says

By Finbarr Flynn - December 19, 2010 08:02 EST

Dec. 19 (Bloomberg) -- Bank of Ireland Plc will complete a plan this week to raise 1.5 billion euros ($2 billion) from private investors and the Irish state, the Sunday Times reported, without citing anyone.
Ireland’s largest bank will raise 1.35 billion euros in equity, and is considering debt exchange offers to collect as much as 200 million euros, the newspaper said. The plan has to be submitted to the nation’s financial regulator before the end of the year, the Sunday Times said.
Dan Loughrey, a spokesman for the Dublin-based bank, couldn’t be immediately reached for comment. A spokesman for the Irish finance ministry declined to comment.
To contact the reporter on this story: Finbarr Flynn in Dublin at [email protected]

 

[tommy271]

Ue ed Efsf dettagliano piano emissioni per Irlanda

martedì 21 dicembre 2010 16:36






BRUXELLES, 21 dicembre (Reuters) - I fondi di salvataggio europei inizieranno in gennaio a raccogliere liquidità sul mercato per aiutare l'Irlanda, iniziando con i bond emessi dal Meccanismo di stabilità finanziaria europea. Lo spiega la Commissione europea in una nota.
L'Ue e il Fondo monetario internazionale hanno promesso a Dublino 85 miliardi di euro in finanziamenti d'emergenza per necessità del governo e per il risanamento delle banche dopo che i costi sostenuti dal paese per finanziarsi sul mercato avevano raggiunto livelli insostenibili.
La parte europea degli aiuti è divisa fra due fondi - lo European Financial Stability Mechanism (Efsm), che è gestito dalla Commissione europea, e l'European Financial Stability Facility (EFSF) che è un veicolo intergovernativo solamente per i paesi della zona euro.
"L'Ue intande lanciare un primo bond all'inizio di gennaio. L'Efsf dovrebbe seguire con la sua prima emissione verso la fine di gennaio" ha detto la Commissione.