Obbligazioni societarie GM, Ford, Chrysler: il 3D dell'automotive USA (1 Viewer)
- Creatore Discussione Imark
- Data di Inizio
Imark
Forumer storico
Premetto che ho gmac giugno 2009, ma chi a Gm Tra i 10 e gli 11 cosa gli verra in tasca? Ho letto un po' dall'altra parte, ma sinceramente ho rinunciato perche' mi pare ci siano idee confuse. Saluti e buona serata
Parti grosso modo dal post n. 911 e leggi a seguire... in sintesi, gli viene un pugno di mosche più il rateo pagato... quello è già un prezzo limite, al quale c'è da chiedersi seriamente se non sia meglio vendere sul mercato piuttosto che swappare, salvo che non migliorino l'offerta ai BH in camera caritatis.
paologorgo
Chapter 11
Judge OKs Chrysler's steps toward sale to Fiat
Judge OKS Chrysler bidding procedures, dissident lenders protest; identities to be disclosed
NEW YORK (AP) -- The judge overseeing Chrysler LLC's Chapter 11 bankruptcy protection proceedings has ruled that the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat Group SpA. The judge also said lawyers for a dissident group of lenders have until noon (1600 GMT) Wednesday to file a list of members with the court, ruling that their identities do not need to be sealed despite reported death threats.
After more than seven hours of testimony and legal arguments, Judge Arthur Gonzales approved the bidding procedures for the proposed sale late Tuesday, saying they represented a "clear and orderly process."
http://finance.yahoo.com/news/Judge-OKs-Chryslers-steps-apf-15144815.html?.v=3
Judge OKS Chrysler bidding procedures, dissident lenders protest; identities to be disclosed
NEW YORK (AP) -- The judge overseeing Chrysler LLC's Chapter 11 bankruptcy protection proceedings has ruled that the automaker can start taking steps toward selling the vast majority of its assets to Italy's Fiat Group SpA. The judge also said lawyers for a dissident group of lenders have until noon (1600 GMT) Wednesday to file a list of members with the court, ruling that their identities do not need to be sealed despite reported death threats.
After more than seven hours of testimony and legal arguments, Judge Arthur Gonzales approved the bidding procedures for the proposed sale late Tuesday, saying they represented a "clear and orderly process."
http://finance.yahoo.com/news/Judge-OKs-Chryslers-steps-apf-15144815.html?.v=3
Yunus80
Del PIG non si butta nulla
Insomma, i creditori di Chrysler stanno per essere totemizzati a dovere... ed ora si dovranno spartire l'osso, decurtato delle spese per il Ch11.
Ma non ho ben capito se si parla solo della vendita di asset a Fiat (quali asset? Credevo si trattasse di una partecipazione azionaria, che peraltro Fiat avrebbe avuto senza tirare fuori cash) o se si sta costituendo una "new Chrysler" che rilevi tutto il restante "buono" dell'azienda + i posti di lavoro.
Ma non ho ben capito se si parla solo della vendita di asset a Fiat (quali asset? Credevo si trattasse di una partecipazione azionaria, che peraltro Fiat avrebbe avuto senza tirare fuori cash) o se si sta costituendo una "new Chrysler" che rilevi tutto il restante "buono" dell'azienda + i posti di lavoro.
paologorgo
Chapter 11
si vende la good Company, quello che interessa di Chrysler, perchè ha veramente valore, ad una nuova società costituita da Fiat, ma di cui Marchionne e Co. avranno una partecipazione di minoranza, senza tirare fuori una lira. Per questo a Fiat verrà, eventulamente, riconosciuta la breaking fee, se qualcuno rilancia.
Vediamo se la notizia avrà ripercussioni anche sull'altra azienda che rischia il ch 11.
paologorgo
Chapter 11
Future Liquidity Requirements and Requests for Additional Funding
In order to execute our current Viability Plan, we currently forecast a need for U.S. Treasury funding totaling $27.0 billion, representing the $22.5 billion requested in our February 17 Viability Plan under our baseline scenario, plus an additional $4.5 billion needed to implement incremental restructuring actions, cover higher projected negative operating cash flow primarily due to lower forecasted vehicle sale volumes in North America, and to compensate for lower than originally forecasted proceeds from asset sales and other sources of financing, including Department of Energy Section 136 Loans for production of advanced technology vehicles and components. Our Viability Plan currently assumes that we receive $5.7 billion of Section 136 Loans and an additional $5.6 billion in funding from foreign governments.
As discussed above, the U.S. Treasury agreed to provide us with $2.0 billion of additional working capital loans and we borrowed $2.0 billion on April 24, 2009. As part of the compensation for these loans, we issued to the U.S. Treasury a promissory note in an aggregate principal amount of $133.4 million. We currently expect that we will need an additional $2.6 billion of working capital loans prior to June 1, 2009. We cannot assure you that the U.S. Treasury will provide the additional $2.6 billion of loans. If we were to receive the additional $2.6 billion of loans, we expect we would be required to issue to the U.S. Treasury a promissory note in an aggregate principal amount of $173.4 million as part of the compensation for these loans.
If we receive the additional $2.6 billion of loans and issue the additional $173.4 million promissory note to the U.S. Treasury in connection with those loans, as of June 1, 2009 we would have received loans from the U.S. Treasury of $18.0 billion (excluding the $884.0 million we borrowed to purchase additional membership interests in GMAC) and issued promissory notes in an aggregate principal amount of $1.1 billion as part of the compensation to the U.S. Treasury for these loans, and as a result, the total outstanding U.S. Treasury Debt would be $20.0 billion. Under the terms of the U.S. Treasury Debt Conversion, at least 50% of the U.S. Treasury Debt outstanding at June 1, 2009 (including the $884.0 million we borrowed to purchase additional membership interests in GMAC and the other promissory notes we issued to the U.S. Treasury as part of the compensation for the loans provided to us), would be exchanged for new shares of GM common stock.
In our Viability Plan, we currently forecast that, after June 1, 2009, we will require an additional $9.0 billion of U.S. Treasury funding. We expect that if we were to receive this additional funding, we would be required to issue to the U.S. Treasury promissory notes in an aggregate principal amount of $600.3 million as part of the compensation for this funding. We have proposed that the U.S. Treasury commit to provide this additional $9.0 billion funding, together with the additional $2.6 billion referred to above, to us under, or on terms similar to
those under, the existing U.S. Treasury Loan Agreements (we refer to the commitment to provide this total of $11.6 billion of additional financing as the “U.S. Treasury Financing Commitment”). We cannot assure you that the U.S. Treasury will provide the additional $2.6 billion and $9.0 billion of funding. The receipt of the U.S. Treasury Financing Commitment on commercially reasonable terms is a condition to the Exchange Offers. Assuming the exchange of 50% of our outstanding U.S. Treasury Debt at June 1, 2009 (such 50% currently estimated to be $10.0 billion) and our receipt of the additional $9.0 billion, our total outstanding U.S. Treasury Debt would be $19.6 billion.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193125-09-100053.txt&FilePath=\2009\05\05\&CoName=GENERAL+MOTORS+CORP&FormType=PRE+14C&RcvdDate=5%2F5%2F2009&pdf=
In order to execute our current Viability Plan, we currently forecast a need for U.S. Treasury funding totaling $27.0 billion, representing the $22.5 billion requested in our February 17 Viability Plan under our baseline scenario, plus an additional $4.5 billion needed to implement incremental restructuring actions, cover higher projected negative operating cash flow primarily due to lower forecasted vehicle sale volumes in North America, and to compensate for lower than originally forecasted proceeds from asset sales and other sources of financing, including Department of Energy Section 136 Loans for production of advanced technology vehicles and components. Our Viability Plan currently assumes that we receive $5.7 billion of Section 136 Loans and an additional $5.6 billion in funding from foreign governments.
As discussed above, the U.S. Treasury agreed to provide us with $2.0 billion of additional working capital loans and we borrowed $2.0 billion on April 24, 2009. As part of the compensation for these loans, we issued to the U.S. Treasury a promissory note in an aggregate principal amount of $133.4 million. We currently expect that we will need an additional $2.6 billion of working capital loans prior to June 1, 2009. We cannot assure you that the U.S. Treasury will provide the additional $2.6 billion of loans. If we were to receive the additional $2.6 billion of loans, we expect we would be required to issue to the U.S. Treasury a promissory note in an aggregate principal amount of $173.4 million as part of the compensation for these loans.
If we receive the additional $2.6 billion of loans and issue the additional $173.4 million promissory note to the U.S. Treasury in connection with those loans, as of June 1, 2009 we would have received loans from the U.S. Treasury of $18.0 billion (excluding the $884.0 million we borrowed to purchase additional membership interests in GMAC) and issued promissory notes in an aggregate principal amount of $1.1 billion as part of the compensation to the U.S. Treasury for these loans, and as a result, the total outstanding U.S. Treasury Debt would be $20.0 billion. Under the terms of the U.S. Treasury Debt Conversion, at least 50% of the U.S. Treasury Debt outstanding at June 1, 2009 (including the $884.0 million we borrowed to purchase additional membership interests in GMAC and the other promissory notes we issued to the U.S. Treasury as part of the compensation for the loans provided to us), would be exchanged for new shares of GM common stock.
In our Viability Plan, we currently forecast that, after June 1, 2009, we will require an additional $9.0 billion of U.S. Treasury funding. We expect that if we were to receive this additional funding, we would be required to issue to the U.S. Treasury promissory notes in an aggregate principal amount of $600.3 million as part of the compensation for this funding. We have proposed that the U.S. Treasury commit to provide this additional $9.0 billion funding, together with the additional $2.6 billion referred to above, to us under, or on terms similar to
those under, the existing U.S. Treasury Loan Agreements (we refer to the commitment to provide this total of $11.6 billion of additional financing as the “U.S. Treasury Financing Commitment”). We cannot assure you that the U.S. Treasury will provide the additional $2.6 billion and $9.0 billion of funding. The receipt of the U.S. Treasury Financing Commitment on commercially reasonable terms is a condition to the Exchange Offers. Assuming the exchange of 50% of our outstanding U.S. Treasury Debt at June 1, 2009 (such 50% currently estimated to be $10.0 billion) and our receipt of the additional $9.0 billion, our total outstanding U.S. Treasury Debt would be $19.6 billion.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001193125-09-100053.txt&FilePath=\2009\05\05\&CoName=GENERAL+MOTORS+CORP&FormType=PRE+14C&RcvdDate=5%2F5%2F2009&pdf=
paologorgo
Chapter 11
E' un secchio bucato, 'sta GM...
a parte quello, conosciuto anche a chi solo legga distrattamente Gaudente
, c'è un commento di Pimco (quelli che hanno fatto il colpo dell'hold out con Gmac, mi pare di ricordare...) che non è incoraggiante sul valore delle azioni eventualmente post swap, con un'azienda di proprietà dello Stato e dei Sindacati... PIMCO’s Paul McCulley, famous for a catchy phrase or a light-bulb-generating truism, asked a group of clients the other day to compare FedEx and UPS to the U.S. Post Office, if it were a public corporation. “Which one would you pay more for?” he asked. If FedEx deserves a P/E of 12, wouldn’t the value of the Post Office be substantially less? His point, and mine as well, is that as wealth is redistributed, and the invisible private hand of Adam Smith begins to resemble more and more the public fist of government, then asset values should be negatively affected.
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2009/IO+May+09+Gross+2+2+4.htm
Imark
Forumer storico
a parte quello, conosciuto anche a chi solo legga distrattamente Gaudente
PIMCO’s Paul McCulley, famous for a catchy phrase or a light-bulb-generating truism, asked a group of clients the other day to compare FedEx and UPS to the U.S. Post Office, if it were a public corporation. “Which one would you pay more for?” he asked. If FedEx deserves a P/E of 12, wouldn’t the value of the Post Office be substantially less? His point, and mine as well, is that as wealth is redistributed, and the invisible private hand of Adam Smith begins to resemble more and more the public fist of government, then asset values should be negatively affected.
http://www.pimco.com/LeftNav/Featured+Market+Commentary/IO/2009/IO+May+09+Gross+2+2+4.htm
Hai messo il dito nella piaga...
mareinburrasca
Nuovo forumer
Un grazie a che mia aiuta a capire. Ho comprato GM 3 luglio 2013 a 31 euro 15000 pz. Sapevo bene che rischio correvo. Oggi leggendo il sole 24 ho trovato l'offerta pubblico di scambio di GM nel quale si dice ( se non ho capito male) che verrebbero date 225 azioni ogni 1000 di nominale in usd.
Qundi dovrebbe essere 292 azioni ogni 1000 nominali in euro ?
Vorrei sapere da voi asperti in materia come bisogna muoversi .
Grazie a tutti
Qundi dovrebbe essere 292 azioni ogni 1000 nominali in euro ?
Vorrei sapere da voi asperti in materia come bisogna muoversi .
Grazie a tutti