Obbligazioni bancarie Banche irlandesi: newsflow, ratings, bonds. Il fronte irlandese dell'Euro. (3 lettori)

[tommy271]

Economia: Tremonti, crisi Irlanda piu' di sistema che domestica


Dowjones MILANO (MF-DJ)--"A differenza di quella greca, la crisi che ha colpito l'Irlanda e' decisamente piu' sistemica che domestica". Lo ha spiegato il Ministro dell'Economia, Giulio Tremonti, durante il suo intervento al Salone del Risparmio, in corso a Milano.
"Dov'erano i controllori mentre accadeva tutto cio'?" si e' chiesto sarcasticamente il titolare di via XX Settembre. "A Bruxelles i commissari facevano le pulci ai bilanci degli stati e controllavano i deficit, ma sono stati carenti sulle leve e sui ratios della finanza privata", ha concluso Tremonti.

 

[tommy271]

Irlanda, rendimento bond 10 anni cala, spread a minimo febbraio

giovedì 7 aprile 2011 10:58






LONDRA, 7 aprile (Reuters) - I rendimenti dei titoli di stato irlandesi sono scesi e il differenziale rispetto ai Bund tedeschi si è ristretto, estendendo il movimento partito all'inizio di questa settimana dopo che i timori per le banche in difficoltà del paese sono diminuiti dopo gli stress test.
I titoli di Stato irlandesi a 10 anni mostrano un rendimento IE10YT=TWEB di 14 punti base più basso rispetto a ieri al 9,36%, portando il differenziale rispetto ai Bund a 591 bps, il livello più basso da febbraio.

 

[tommy271]

Irish To Seek French/German View On Bailout Loan Cut-Noonan



Dow Jones Newswires DUBLIN (Dow Jones)--Irish finance minister Michael Noonan said he expects to talk to his French and German counterparts on the fringes of a meeting of finance ministers in Budapest Friday about Ireland's request for a cut in the cost of its bailout loans.
Noonan told Irish broadcaster RTE, as he went into the meeting of EU finance ministers, that he would discuss the "promised reduction" of the bailout interest rate and the objections of "some colleagues" who want Ireland to increase its corporation tax in return.
He said he would discuss "the promised reduction in the cost of the bailout package, which ran into difficulties when some of the colleagues demanded a quid pro quo in the corporate tax rate," he said.
"I do not expect anything to be resolved, but I want to establish what their exact position is," Noonan said. He said the EU still wanted a concession on Ireland's corporation tax in return for a better bailout deal.
The new Irish coalition government, which took power last month, wants to reduce the near 6% rate Ireland is paying its EU lenders on a EUR67.5 billion aid package agreed with the EU and International Monetary Fund last November. French President Nicolas Sarkozy last month said Ireland should increase its 12.5% corporation tax rate in return for a better deal.
Noonan said Portugal's application for a bailout loan would dominate the agenda at Friday's meeting. But he said he would be surprised if Portugal does not secure "the same sort of pricing arrangement that Greece now has."

 

[tommy271]

Irlanda: le banche richiedono finanziamenti per 66,8 miliardi di euro

La Banca centrale d'Irlanda ha finanziato in via straordinaria le banche del paese per un ammontare complessivo di 66,8 miliardi di euro


08 aprile 2011 ore 12:45


La Banca centrale d’Irlanda ha finanziato in via straordinaria le banche del paese per un ammontare complessivo di 66,8 miliardi di euro al 25 marzo scorso, poco sotto l’ammontare record registrato il mese prima pari a 70 miliardi.
Inoltre il ricorso, ai finanziamenti della Bce, da parte delle banche irlandesi si è ridotto a 114,5 miliardi di euro dai 116,8 miliardi registrati al 26 febbario. Le banche irlandesi sono costrette ad affidarsi soprattutto ai finanziamenti della banca centrale perchè è loro difficile finanziarsi sul mercato monetario.


(Investire Oggi.it)

 

[maestro cantore]

Bank of Ireland - Subordinated debt

Oggi nella conference call, alla prima domanda degli analisti, Boucher ha confermato che ci sarà una contribuzione da parte degli investitori in obbligazioni Lower Tier 2 al rafforzamento patrimoniale. Sui tempi è stato vago, ha dichiarato che avverrà nelle prossime settimane.

BoI unable to reveal yet how it will meet €4.2bn June target




Thursday April 14 2011
BANK of Ireland will not be in a position to reveal details of plans to raise €4.2bn in capital when it presents 2010's full-year results this morning.
The news comes a fortnight after the Central Bank set BOI a new capital target on foot of the latest 'stress tests'. The bank has been given until June to raise the cash.
Many had hoped BOI would reveal its capital-raising strategy today but sources last night confirmed the plans were still being developed.
The bank's efforts are focused on convincing investors who own some €2.7bn of junior bonds to trade these for equity, and issuing some new shares.
The so-called 'debt for equity swap' has generated significant interest and could raise more than €2bn in capital. But sources stressed that it was impossible to know what the uptake would be at this stage.
Private
The bank is also likely to attempt a 'private placement' of shares with institutions and to offer new shares to existing investors.
BOI's results come two days after AIB revealed that Nama transfers and troubled mortgages contributed to losses of €10.4bn last year.
BOI's losses are expected to be significantly lower. The bank is also not expected to follow AIB's lead and use its results to announce significant job cuts.
Shares in BOI closed up more than 10pc in Dublin last night, valuing the bank at €1.46bn.
The Government already holds 36pc of BOI and will have to invest more money if the bank cannot raise the €4.2bn from private sources. As well as raising another €4.2bn in equity, BOI must also take a €1bn 'contingent convertible' loan from the Government to deal with potential future losses.

 

[tommy271]

Irlanda: Fitch,rating non watch negative


Ma prospettive su rating BBB+ restano negative



(ANSA) - ROMA, 14 APR - Fitch ha deciso di confermare il merito di credito 'BBB+' dell'Irlanda togliendo il Paese dal Rating Watch negativo che minacciava un nuovo taglio del merito di credito. Lo comunica l'agenzia di rating. Le prospettive sul rating restano comunque negative.

 

[tommy271]

Moody's taglia rating Irlanda a Baa3 da Baa1, outlook negativo

venerdì 15 aprile 2011 08:18






MILANO, 15 aprile (Reuters) - Moody's ha tagliato il rating dell'Irlanda a Baa3 da Baa1, mantenendo l'outlook negativo sul merito di credito del Paese. La retrocessione è di due notch.
L'agenzia di rating ha precisato di aspettarsi un indebolimento della forza finanziaria del Paese e di vedere più fiacche prospettive di crescita economica.
Secondo Moody's, l'Irlanda potrebbe aver bisogno di misure aggiuntive di consolidamento per raggiungere i suoi obiettivi fiscali e la capacità finanziaria del Paese potrebbe soffrire della politica monetaria restrittiva della Bce.

 

[tommy271]

INTERVIEW - Moodys says Irish restructuring not plausible


DUBLIN | Fri Apr 15, 2011 1:16pm IST

DUBLIN (Reuters) - Ratings agency Moody's said the chances of Ireland having to restructure any of its debt are very remote after it cut the euro zone struggler's sovereign rating by two notches to the verge of junk status on Friday.
Moody's downgraded Ireland's sovereign rating to BAA3 from BAA1, a day after Germany said for the first time that Greece may have to restructure its huge public debt, sending market yields for its debt to new highs.
"We don't see that as a plausible scenario. Restructuring from an investment grade rating is a remote scenario. Very remote," Dietmar Hornung, vice president and senior credit officer at Moody's, told Reuters in an interview.
"Obviously debt dynamics are not favourable at the moment but we assess that as being sustainable. There are challenges though, that's why we went for a rating action today."
The cut in the rating means that Moody's rates Ireland two notches below the other two major rating agencies, Fitch and Standard and Poor's.


***
E se il rating scende ancora ? ...

 

[maestro cantore]

Investor News

Allied Irish Banks, p.l.c. - Subordinated Liabilities Order

14th April 2011 17:40

Allied Irish Banks, p.l.c. – Subordinated Liabilities Order​

Dublin, Ireland - Allied Irish Banks, p.l.c. (“AIB”) [NYSE:AIB]
The Irish High Court has today made a subordinated liabilities order (the “Order”) following an application by the Minister for Finance (the “Minister”) pursuant to the provisions of Section 29 of the Credit Institutions (Stabilisation) Act 2010. A copy of the Order is available from the Central Office of the High Court by e-mail to [email protected] or will shortly be available on AIB’s website at AIB Investor Relations.
The Minister reaffirmed today AIB’s position as a pillar of the Irish banking sector. Following the Order AIB will launch an exercise to buy back certain subordinated liabilities. The capital to be generated will be part of the total €13.3bn required by AIB following the recent PCAR exercise.
The Minister also confirmed that there are no actions planned in respect of AIB’s senior bondholders. AIB welcomes the support and clarity contained in today’s statement by the Minister.
The Order has been made in respect of the following subordinated liabilities of AIB:

Subordinated​

Liabilities​

Issuer​

ISIN​

Code​

1
€419,070,000 10.75 per cent. Subordinated Notes due 2017
Allied Irish Banks, p.l.c.
XS0498532117
2
£1,096,645,000 11.50 per cent. Subordinated Notes due 2022
Allied Irish Banks, p.l.c.
XS0498531069
3
U.S.$177,096,000 10.75 per cent. Subordinated Notes due 2017
Allied Irish Banks, p.l.c.
XS0498530178
4
£368,253,000 12.5 per cent. Subordinated Notes due 25 June 2019
Allied Irish Banks, p.l.c.
XS0435957682
5
€868,518,000 12.5 per cent. Subordinated Notes due 25 June 2019
Allied Irish Banks, p.l.c.
XS0435953186
6
£700,000,000 Callable Dated Subordinated Fixed to Floating Rate Notes due July 2023
Allied Irish Banks, p.l.c.
XS0368068937
7
€500,000,000 Callable Subordinated Step-Up Floating Rate Notes due 2017
Allied Irish Banks, p.l.c.
XS0232498393
8
£500,000,000 Subordinated Callable Fixed/Floating Rate Notes due 2025
Allied Irish Banks, p.l.c.
XS0214107053
9
€400,000,000 Subordinated Callable Step-Up Floating Rate Notes due 2015
Allied Irish Banks, p.l.c.
XS0208845924
10
U.S.$400,000,000 Dated Callable Step-Up Subordinated Notes due 2015
Allied Irish Banks, p.l.c.
XS0197993875
11
£350,000,000 Subordinated Callable Fixed/Floating Rate Notes due 2030
Allied Irish Banks, p.l.c.
XS0180778507
12
€200,000,000 Perpetual Subordinated Callable Step-Up Notes
Allied Irish Banks, p.l.c.
XS0100325983
13
£400,000,000 Perpetual Callable Step-Up Subordinated Notes
Allied Irish Banks, p.l.c.
XS0227409629
14
€500,000,000 7.50 per cent. Step-Up Callable Perpetual Reserve Capital Instruments
Allied Irish Banks, p.l.c.
XS0120950158
15
€1,000,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities
AIB UK I LP
XS0208105055
16
€500,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities
AIB UK 2 LP
XS0257734037
17
£350,000,000 Fixed Rate/Floating Rate Guaranteed Non-voting Non-cumulative Perpetual Preferred Securities
AIB UK 3 LP
XS0257571066
18
U.S.$100,000,000 Subordinated Primary Capital Perpetual Floating Rate Notes
Allied Irish Banks, p.l.c.
IE0000189625

In summary and as set out in further detail in the Order, the Order amends the terms of the subordinated liabilities as follows:
1. The terms of the subordinated liabilities listed at 1 to 11 (inclusive) in the table above have been amended such that any interest that may fall due on such liabilities will only be payable at the option of AIB (in its sole discretion).
2. The terms of the subordinated liabilities listed at 1 to 11 (inclusive) in the table above have been further amended such that the maturity date of each such liability has been extended to 2035, on the relevant interest payment date specified in the Order.
3. The terms of the subordinated liabilities listed at 14 to 17 (inclusive) in the table above have been amended such that any restriction on (i) payment of any distribution or dividend on any other specified junior or parity securities of AIB, or (ii) any repurchase or redemption of such junior or parity securities, has been removed.
4. The terms of the subordinated liabilities listed at 12, 13 and 18 in the table above have been amended such that (i) the requirement to pay any arrears of interest on such liabilities upon the payment of any dividends by AIB has been removed, and (ii) the payment of any coupon on such liabilities following the payment of a dividend by AIB is now entirely at the option of AIB.
Click here to view the Order - AIB plc v Credit Institutions Stabilisation Act 2010
- ENDS -
For further information, please contact:
Alan Kelly
General Manager, Corporate Services
AIB Group
Bankcentre
Ballsbridge
Dublin 4
Tel: +353-1-6600311 Ext 12162
or
Catherine Burke
Head of Group Corporate Relations
AIB Group
Bankcentre
Ballsbridge
Dublin 4
Tel: +353-1-6600311 Ext 13894


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[tommy271]

Irlanda, Ue/Fmi approvano pienamente progresso bailout - governo

venerdì 15 aprile 2011 13:21






DUBLINO, 15 aprile (Reuters) - Il team di esperti di Unione europea e FMI hanno detto che Irlanda sta attuando con successo i termini del suo piano di salvataggio e ha concesso alcune modifiche da apportare, tra cui il taglio al salario minimo.
Lo ha detto il governo irlandese.
"Il governo ha concluso con successo la prima e la seconda missione di revisione trimestrale del programma con Commissione europea, BCE e Fmi" ha detto il governo in un comunicato.
"Durante i colloqui, è apparso chiaro che vi era sufficiente flessibilità nell'ambito del programma da permetterci di includere queste (nuove) importanti misure di politica, mentre sono stati rispettati i parametri di bilancio complessivi e gli obiettivi del programma" dice la nota.
La dichiarazione è giunta al termine di una revisione di due settimane da parte degli esperti dell'Unione europea, Banca centrale europea e il Fondo Monetario Internazionale.
Gli esperti devono presentare i risultati del riesame entro oggi.
Il governo ha detto che un nuovo protocollo d'intesa tra le parti sarà finalizzato in maggio che terrà conto del minor costo della ricapitalizzazione delle banche irlandesi come indicato da stress test il mese scorso.