GiveMeLeverage
& I will remove the world
Sì, 120. Peccato.
Titoli di Stato area Euro GRECIA Operativo titoli di stato - Cap. 2 (7 lettori)
- Creatore Discussione tommy271
- Data di Inizio
- Stato
Sì, 120. Peccato.
carib
rerum cognoscere causas
L'altra tesi sembrava troppo bella per essere vera.
Peró.. 120 conferma la mia tesi.. cioè che i 2025 non avevano ragione di costare meno degli altri di simile durata (mentre costavano meno).
Magra soddisfazione, se CACcano.. ma meglio di niente.
baleng
Per i tuoi meriti dovrai sempre chiedere scusa
A parte che io ho quasi tutto in '25 inflation l. a pmc 90 (10% del mio portafoglio)
A parte che per fortuna non mi serve scrivere qui perché c'è già robinson che pare il mio gemello e con cui sono d'accordo al 99% sia per i temi che per i tempi degli interventi
MA CAVOLO MI STATE ROVINANDO LA VITA DI COPPIA !!!
Basta una mezza giornata di impegni e sono fuori dalla linea e perdo ore per recuperare. E lei sta a guardarmi male. E c'è pure il FOL.
Per favore postate in questi momenti solo ciò che serve davvero
Limitate ipotesi opinioni e battibecchi
ABBIATE PIETA' !!
Dico sul serio.
Le mie opinioni sono ultimamente solo di là (ginogost), se a qualcuno interessano.
Comunque ho previsto marzo pagata per accordo oscuro con gli HF
HF pertanto aderenti allo swap dopo la marzo (troveranno il modo)
Immaginare non costa nulla.
Lunedì scriverò la letterina. Ma la mando in tanti posti.
A parte che per fortuna non mi serve scrivere qui perché c'è già robinson che pare il mio gemello e con cui sono d'accordo al 99% sia per i temi che per i tempi degli interventi
MA CAVOLO MI STATE ROVINANDO LA VITA DI COPPIA !!!
Basta una mezza giornata di impegni e sono fuori dalla linea e perdo ore per recuperare. E lei sta a guardarmi male. E c'è pure il FOL.
Per favore postate in questi momenti solo ciò che serve davvero
Limitate ipotesi opinioni e battibecchi
ABBIATE PIETA' !!
Dico sul serio.
Le mie opinioni sono ultimamente solo di là (ginogost), se a qualcuno interessano.
Comunque ho previsto marzo pagata per accordo oscuro con gli HF
HF pertanto aderenti allo swap dopo la marzo (troveranno il modo)
Immaginare non costa nulla.
Lunedì scriverò la letterina. Ma la mando in tanti posti.
GiveMeLeverage
& I will remove the world
BNP's Lemierre: Greek GDP Warrants Could Be Boon To Bondholders
--BNP's Lemierre says Greek GDP warrants could be boon to bondholders --'Never throw away' Greek GDP warrants, says lead negotiator in Greek debt swap
--BNP's Lemierre says Greek GDP payments would be more moderate than Argentina's
By Ian Talley
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--An unusual security included in the Greek debt swap could prove a boon to bondholders, but likely won't be the windfall that investors saw under the Argentinian debt restructuring, one of the principal negotiators said Saturday.
The terms of the 200-billion-euro ($269 billion) Greek debt swap include a so-called gross domestic product warrant that returns cash if growth is better than forecast by the International Monetary Fund.
Under the 2005 Argentina restructuring, many bondholders didn't think the GDP warrant sweetener would pay out, dismissing it as essentially worthless. As growth has rebounded far faster than forecast, investors have received billions of dollars they never expected.
"Hold on to that paper, put it in a box, and never throw it away," said Jean Lemierre, one of the two lead negotiators for private bondholders of Greek government bonds and a senior adviser to BNP Paribas's chairman, in an interview.
The Argentine experience has helped inform the Greek swap terms. The Argentine warrant was "nothing, or a bonanza," whereas the Greek GDP-based security has a more-graduated return, Lemierre said. Under the Greek swap, the GDP securities will pay out up to 1% of the amount of the new bonds issued, starting in 2015, if growth exceeds IMF targets.
According to a recent IMF staff report on the Greek financing program, the fund projects Greek growth at 2.9% in 2015, falling to 2.8% in the following two years.
Lemierre also said that the "sweetners" in the deal designed to attract voluntary participation, such as the warrant and EUR30 billion in bonds exchangeable as cash would likely apply to the bulk of private bondholders because of the collective-action clauses Athens is prepared to enforce. The clauses give Greece the ability to apply the terms of the swap deal to all privately held bonds if there is at least 66% voluntary participation.
Lemierre compared it to a condo association: if two-thirds of the association agree to a new paint job, then regardless of any minority objections, the entire condo building is painted.
The terms may not apply to the Greek government bonds issued under English law, Lemierre said, which account for roughly EUR20 billion, or 10% of the total of privately held debt.
The small share of that debt is also why Lemierre has said he is not particularly concerned about transfers of Greek bonds to hedge funds that have historically tried to hold out for better terms, forcing the government into litigation. He said hedge funds are unlikely to risk too much exposure to such a venture, saying that they may buy lots of EUR20 million to EUR50 million for the strategy.
-By Ian Talley, Dow Jones Newswires, 202-862-9285;
[email protected]
--BNP's Lemierre says Greek GDP warrants could be boon to bondholders --'Never throw away' Greek GDP warrants, says lead negotiator in Greek debt swap
--BNP's Lemierre says Greek GDP payments would be more moderate than Argentina's
By Ian Talley
Of DOW JONES NEWSWIRES
WASHINGTON (Dow Jones)--An unusual security included in the Greek debt swap could prove a boon to bondholders, but likely won't be the windfall that investors saw under the Argentinian debt restructuring, one of the principal negotiators said Saturday.
The terms of the 200-billion-euro ($269 billion) Greek debt swap include a so-called gross domestic product warrant that returns cash if growth is better than forecast by the International Monetary Fund.
Under the 2005 Argentina restructuring, many bondholders didn't think the GDP warrant sweetener would pay out, dismissing it as essentially worthless. As growth has rebounded far faster than forecast, investors have received billions of dollars they never expected.
"Hold on to that paper, put it in a box, and never throw it away," said Jean Lemierre, one of the two lead negotiators for private bondholders of Greek government bonds and a senior adviser to BNP Paribas's chairman, in an interview.
The Argentine experience has helped inform the Greek swap terms. The Argentine warrant was "nothing, or a bonanza," whereas the Greek GDP-based security has a more-graduated return, Lemierre said. Under the Greek swap, the GDP securities will pay out up to 1% of the amount of the new bonds issued, starting in 2015, if growth exceeds IMF targets.
According to a recent IMF staff report on the Greek financing program, the fund projects Greek growth at 2.9% in 2015, falling to 2.8% in the following two years.
Lemierre also said that the "sweetners" in the deal designed to attract voluntary participation, such as the warrant and EUR30 billion in bonds exchangeable as cash would likely apply to the bulk of private bondholders because of the collective-action clauses Athens is prepared to enforce. The clauses give Greece the ability to apply the terms of the swap deal to all privately held bonds if there is at least 66% voluntary participation.
Lemierre compared it to a condo association: if two-thirds of the association agree to a new paint job, then regardless of any minority objections, the entire condo building is painted.
The terms may not apply to the Greek government bonds issued under English law, Lemierre said, which account for roughly EUR20 billion, or 10% of the total of privately held debt.
The small share of that debt is also why Lemierre has said he is not particularly concerned about transfers of Greek bonds to hedge funds that have historically tried to hold out for better terms, forcing the government into litigation. He said hedge funds are unlikely to risk too much exposure to such a venture, saying that they may buy lots of EUR20 million to EUR50 million for the strategy.
-By Ian Talley, Dow Jones Newswires, 202-862-9285;
[email protected]
discipline
Forumer storico
Ammettendo di non aver letto il documento nella sua interezza, mi sono limitato a ricercare alcune parole chiave.
Notare l'outstanding dei titoli -della 3/12 in particolare- e la nota in calce:
Sulle modalità di informazione:
Notare l'outstanding dei titoli -della 3/12 in particolare- e la nota in calce:
Sulle modalità di informazione:
fenox
Forumer storico
è un idea intelligente e del tutto plausibile
StockExchange
Forumer storico
Come dicevo io
L'hanno fatto veramente... invece che 21 bond da 15 hanno recuperato i centesimi (0,75) facendo 5 bond da 15 € e 15 bond da 16 €.
Considerazione illuminante:
Ma questi sono capaci di tutto. [...]
Nel caso del retail poichè i ggb trattavano a 1000€ minimo, un detentore non può averne meno di 1000 quindi in questo caso limite dovrebbe ricevere
315 € nominali in venti bond da 15,75 €
Piccola curiosità numerologica
Quindi magari per non perdere la spezzatura potrebbero fare un concambio:
1 pezzo da 1000 nominali => 21 bond del valore di 15 € nominali. Magari dell'ultimo bond 2042 ne danno due invece che 1 per ogni vecchi mille nominali.
Questi so' capaci di tutto altro che....
[...]
Ultima modifica:
Road Glide
Forumer attivo
Ammettendo di non aver letto il documento nella sua interezza, mi sono limitato a ricercare alcune parole chiave.
Notare l'outstanding dei titoli -della 3/12 in particolare- e la nota in calce:
Sulle modalità di informazione:
sono parecchi miliardi in meno... la maggio circa la metà.
StockExchange
Forumer storico
discipline
Forumer storico
Già.. il mantra dei 14.5B da rimborsare entro il 20/3 è quindi da rivedere, probabilmente effetto BCE.. cmq il documento è ufficiale, almeno loro avranno il dato preciso dei loro debiti..
Altra ricerca, nel pdf non c'è alcuna occorrenza delle parole "consob" e "qualificati" (più volte invece ricorrenti nelle offerte di scambio).
Ultima modifica:
- Stato