Gaudente
Forumer storico
http://www.onvista.de/suche.html?TARGET=snapshot&ID_TOOL=BON&SEARCH_VALUE=TUI&SELECTED_ID=NSIN
grottescamente cari a mio avviso
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
- Creatore Discussione TRADING_IDEAS
- Data di Inizio
- Stato
grottescamente cari a mio avviso
titox
Nuovo forumer
grazie,
certo che il 2012 xs0237431837 ha un rendimento interessante 19.47 lordo
.a che prezzo inizierebbe ad interessarti..??
titox
Nuovo forumer
Unicredit** 13.08 16:02 - Tui in forte rialzo a Francoforte
Il colosso del settore turistico Tui Ag è in forte rialzo alla borsa di Francoforte (al momento guadagna circa il 10%) nonostante la diffusione della trimestrale che vede una perdita netta nel 2Q pari a EUR537 mln, dato peggiore delle attese del mercato, ma condizionata da oneri straordinari legati soprattutto alla divisione container Hapag-Lloyd. Confermato l'outlook 2009 e per Hapag-Lloyd è stato varato un piano di riassetto con sovvenzioni statali per EUR1,2 mld.
Il colosso del settore turistico Tui Ag è in forte rialzo alla borsa di Francoforte (al momento guadagna circa il 10%) nonostante la diffusione della trimestrale che vede una perdita netta nel 2Q pari a EUR537 mln, dato peggiore delle attese del mercato, ma condizionata da oneri straordinari legati soprattutto alla divisione container Hapag-Lloyd. Confermato l'outlook 2009 e per Hapag-Lloyd è stato varato un piano di riassetto con sovvenzioni statali per EUR1,2 mld.
solenoide
Forumer storico
grazie,
certo che il 2012 xs0237431837 ha un rendimento interessante 19.47 lordo
a che prezzo inizierebbe ad interessarti..??
Io 50.000 (taglio minimo) non li metterei su quella TUI poi vedi tu
titox
Nuovo forumer
Io 50.000 (taglio minimo) non li metterei su quella TUI poi vedi tu
neanche io, ma da quel che leggo dal link incollato di sopra il nominale è 1k
.se certo che siano 50..?
solenoide
Forumer storico
neanche io, ma da quel che leggo dal link incollato di sopra il nominale è 1k
se certo che siano 50..?
Form of Notes
The Floating Rate Notes and the Senior Notes will each be issued on the Issue Date only in fully registered form without coupons and only in denominations of 50,000 and any integral multiple of 1,000 in excess of 50,000. Notes in denominations of less than 50,000 will not be available.
http://www.bondboard.de/ cercala su bondboard , puoi scaricare il prospetto
Imark
Forumer storico
neanche io, ma da quel che leggo dal link incollato di sopra il nominale è 1k
se certo che siano 50..?
E' sbagliato il link di OnVista, sono 50k...
per ora hanno detto che si accingono a chiedere aiuti di stato per Hapag-Lloyd... poi bisognerà vedere se glieli danno o meno...
TUI Shares Jump on Possible Application for Hapag State Aid
By Holger Elfes
Aug. 13 (Bloomberg) -- TUI AG, the biggest shareholder in shipping line Hapag-Lloyd AG, rose the most in two months in German trading after saying the cash-strapped unit may be closer to getting more financing.
TUI climbed as much as 14 percent to 5.38 euros after saying HSH Nordbank AG, representing Hapag lenders, may file for government loan guarantees worth 1.2 billion euros ($1.71 billion) as early as today. That would end weeks of talks between Hapag’s owners about financing for the shipping line.
“Investors may appreciate TUI’s statement that it is close to applying for state aid for Hapag,” said Eva Lautermann, a trader at Lang & Schwarz Wertpapierhandelsbank AG in Dusseldorf.
TUI, which owns about 43 percent of Hapag, said today that the container line needs financing of 1.95 bullion euros, 200 million euros more than previously expected. In addition to state-guaranteed bank loans, shareholders would contribute 750 million euros, the Hanover, Germany-based company said.
The travel company reported its second-quarter net loss widened to 537 million euros from 56.4 million euros a year earlier, hurt by loans given to Hapag. A risk evaluation of the loans led to 371 million euros of interest costs.
TUI plays the “role of a bank” for Hapag, TUI Chief Financial Officer Rainer Feuerhake said on a conference call. TUI expects a positive impact from the evaluation as soon as the global container business recovers, he said.
TUI shares rose 65 cents, or 14 percent, to 5.36 euros at 12:09 p.m. in Frankfurt. The gain gives the company a market value of 1.35 billion euros.
HSH Nordbank, Hapag-Lloyd and M.M. Warburg, which speaks for the investor group Albert Ballin, didn’t immediately return calls seeking comment.
Hapag Loss
The loss from TUI’s stake in Hapag was 121 million euros. The container line’s second-quarter transport volumes fell 17 percent in the global recession and a glut of new vessels contributed to a 25 percent decline in freight rates.
“There is no real turnaround for the slumping container business in sight though the speed of decline is slowing down,” said Martina Noss, an analyst at Norddeutsche Landesbank in Hanover, before the results were released. She has a “hold” rating on the shares.
TUI, which sold about 57 percent of Hapag to a group of investors in March and retains the biggest stake in the company, last month agreed to help Hapag by contributing 215 million euros to the purchase of a container terminal.
Gaudente
Forumer storico
grazie,
certo che il 2012 xs0237431837 ha un rendimento interessante 19.47 lordo
a che prezzo inizierebbe ad interessarti..??
Vediamo....equity 2.237 immateriali ed avviamento 3.803 ....quindi di fatto equity negativa per oltre un miliardo e mezzo...cui si si aggiungono perdite al ritmo di 1 miliardo l'anno ... beh se scendono a 20 magari un pensierino ce lo faccio
Mi sembra molto improbabile che nel 2012 ti rimborsino...sara' grasso che cola se te lo rollano alla pari con una cedola simbolica.
Imark
Forumer storico
Intanto c'era stata un'altra distressed exchange offer, con uno swap misto dei vecchi bond in new bonds ed equity, della quale non mi ero reso conto...
Posto questa rating action di S&P che riassume i termini dell'offerta ed il suo andamento: l'offerta è stata accolta dalla stragrande parte dei bondholders (il 75,3%).
Per quelli che non hanno accettato lo swap, viene ripristinato il pagamento del coupon sul bond sospeso in precedenza, che dunque intercorrà nel periodo di grazia di 30 giorni.
Il leverage dovrebbe essere stato significativamente ridotto per effetto del buon esito dell'offerta.
Vedremo che rating verrà assegnato da S&P a chiusura anche formale dell'offerta, dopo il 19 agosto.
[FONT=Arial, Helvetica, sans-serif]Head Long-Term Rating Lowered to 'SD'; HTM Notes Rating To 'D' On Closure Of Exchange Offer Solicitation Period[/FONT]
-- The consent solicitation period for the private exchange offer by sports equipment maker Head to HTM Sport's noteholders has closed.
-- We anticipate that the exchange offer will close at the proposed settlement date of Aug. 19, 2009.
-- We are lowering the long-term rating on Head to 'SD' from 'CC' and the issue rating on HTM Sport's existing notes to 'D' from 'C'.
-- Future ratings will focus on trading developments and the adequacy of liquidity provision.
LONDON (Standard & Poor's) Aug. 14, 2009--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating on Netherlands-based and Austria-managed sports equipment manufacturer Head N.V. (Head) to 'SD' (Selective Default) from 'CC'. At the same time, we lowered the issue rating on the 8.5% senior unsecured notes due February 2014 issued by related entity HTM Sport und Freizeitgeraete AG (HTM) to 'D' (Default) from 'C'.
These rating actions follow the closure of the consent solicitation period for the private exchange offer under which HTM's noteholders were offered the opportunity to exchange each €1,000 aggregate principal amount of their existing 8.5% senior unsecured notes due 2014 for new 10.0% senior secured notes due 2012 at a price of €510.625 and 262.372 Head N.V. ordinary shares.
We understand that as of the closure of the solicitation period, €85.723 million in aggregate principal amount of the existing notes (representing about 75.3% of the €113.825 million outstanding notes not held in treasury) had been validly tendered in the exchange offer and will be accepted for exchange into approximately €43.738 million secured notes and 22,491,278 Head ordinary shares.
Head anticipates that the settlement date for the exchange offer will be Aug. 19, 2009.
Interest due to existing noteholders who have not accepted the exchange offer, which was suspended on Aug. 1, 2009, is expected to be paid in full after settlement of the exchange offer and within the permitted grace period of 30 calendar days.
Standard & Poor's views the exchange offer as distressed because the exchange value offered is well below par (€0.511 on the euro) and, in our opinion, the noteholders had little realistic alternative that would enable them to be repaid in full.
We believe that completion of the exchange offer will result in meaningfully lower leverage for the group and lower ongoing interest costs.
Operating conditions remain challenging, in our view. We anticipate that recessionary pressures and a greater consumer preference to rent than to buy large-ticket sports equipment are likely to result in a meaningful year-on-year decline in 2009 group sales. This is particularly the case for the group's winter sports and diving goods businesses. The group is due to announce delayed interim results on Aug. 21, 2009.
On completion of the exchange offer, our rating analysis will focus on trading and operating developments, and, critically, on the availability of working capital debt facilities in the peak autumn period.
Posto questa rating action di S&P che riassume i termini dell'offerta ed il suo andamento: l'offerta è stata accolta dalla stragrande parte dei bondholders (il 75,3%).
Per quelli che non hanno accettato lo swap, viene ripristinato il pagamento del coupon sul bond sospeso in precedenza, che dunque intercorrà nel periodo di grazia di 30 giorni.
Il leverage dovrebbe essere stato significativamente ridotto per effetto del buon esito dell'offerta.
Vedremo che rating verrà assegnato da S&P a chiusura anche formale dell'offerta, dopo il 19 agosto.
[FONT=Arial, Helvetica, sans-serif]Head Long-Term Rating Lowered to 'SD'; HTM Notes Rating To 'D' On Closure Of Exchange Offer Solicitation Period[/FONT]
-- The consent solicitation period for the private exchange offer by sports equipment maker Head to HTM Sport's noteholders has closed.
-- We anticipate that the exchange offer will close at the proposed settlement date of Aug. 19, 2009.
-- We are lowering the long-term rating on Head to 'SD' from 'CC' and the issue rating on HTM Sport's existing notes to 'D' from 'C'.
-- Future ratings will focus on trading developments and the adequacy of liquidity provision.
LONDON (Standard & Poor's) Aug. 14, 2009--Standard & Poor's Ratings Services said today that it lowered its long-term corporate credit rating on Netherlands-based and Austria-managed sports equipment manufacturer Head N.V. (Head) to 'SD' (Selective Default) from 'CC'. At the same time, we lowered the issue rating on the 8.5% senior unsecured notes due February 2014 issued by related entity HTM Sport und Freizeitgeraete AG (HTM) to 'D' (Default) from 'C'.
These rating actions follow the closure of the consent solicitation period for the private exchange offer under which HTM's noteholders were offered the opportunity to exchange each €1,000 aggregate principal amount of their existing 8.5% senior unsecured notes due 2014 for new 10.0% senior secured notes due 2012 at a price of €510.625 and 262.372 Head N.V. ordinary shares.
We understand that as of the closure of the solicitation period, €85.723 million in aggregate principal amount of the existing notes (representing about 75.3% of the €113.825 million outstanding notes not held in treasury) had been validly tendered in the exchange offer and will be accepted for exchange into approximately €43.738 million secured notes and 22,491,278 Head ordinary shares.
Head anticipates that the settlement date for the exchange offer will be Aug. 19, 2009.
Interest due to existing noteholders who have not accepted the exchange offer, which was suspended on Aug. 1, 2009, is expected to be paid in full after settlement of the exchange offer and within the permitted grace period of 30 calendar days.
Standard & Poor's views the exchange offer as distressed because the exchange value offered is well below par (€0.511 on the euro) and, in our opinion, the noteholders had little realistic alternative that would enable them to be repaid in full.
We believe that completion of the exchange offer will result in meaningfully lower leverage for the group and lower ongoing interest costs.
Operating conditions remain challenging, in our view. We anticipate that recessionary pressures and a greater consumer preference to rent than to buy large-ticket sports equipment are likely to result in a meaningful year-on-year decline in 2009 group sales. This is particularly the case for the group's winter sports and diving goods businesses. The group is due to announce delayed interim results on Aug. 21, 2009.
On completion of the exchange offer, our rating analysis will focus on trading and operating developments, and, critically, on the availability of working capital debt facilities in the peak autumn period.
solenoide
Forumer storico
Morgan Stanley consiglia di acquistare TUI per la prima volta in dieci anni vendere vendere vendere?
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aO7FUITxB1JA
TUI Rises on Morgan Stanley’s First ‘Buy’ Rating in a Decade
By Holger Elfes
Aug. 25 (Bloomberg) -- TUI AG, the biggest stakeholder in the Hapag-Lloyd container line, rose to a two-month high in German trading after Morgan Stanley analyst Jamie Rollo advised clients to buy the stock for the first time in a decade.
Rollo raised his rating to “overweight” from “equal weight,” saying TUI’s share price “overly compensates” for risks posed by the company’s debt. The analyst has recommended that investors sell the stock for about three quarters of the 10 years he has covered Hanover-based TUI and has otherwise had a “neutral” rating, he said in an interview today.
TUI, the owner of Europe’s largest tour operator, rose as much as 57 cents, or 10 percent, to 5.98 euros in Frankfurt. The shares traded at 5.94 euros at 10:17 a.m. local time, the biggest gainer in Germany’s MDAX index of medium-sized stocks.
On Aug. 14, lenders to Hapag-Lloyd filed an application for state guarantees worth 1.2 billion euros ($1.71 billion) on their loans. Rollo sees an 80 percent probability that the German government will grant the loan guarantees.
“Our upgrading is mostly due to the likeliness of state aid for Hapag-Lloyd, which gives the shipping line more time to recover,” Rollo said.
TUI’s net debt rose to 2.63 billion euros as of June 30, from 2.58 billion euros at the end of the previous quarter.
vendere vendere vendere?http://www.bloomberg.com/apps/news?pid=newsarchive&sid=aO7FUITxB1JA
TUI Rises on Morgan Stanley’s First ‘Buy’ Rating in a Decade
By Holger Elfes
Aug. 25 (Bloomberg) -- TUI AG, the biggest stakeholder in the Hapag-Lloyd container line, rose to a two-month high in German trading after Morgan Stanley analyst Jamie Rollo advised clients to buy the stock for the first time in a decade.
Rollo raised his rating to “overweight” from “equal weight,” saying TUI’s share price “overly compensates” for risks posed by the company’s debt. The analyst has recommended that investors sell the stock for about three quarters of the 10 years he has covered Hanover-based TUI and has otherwise had a “neutral” rating, he said in an interview today.
TUI, the owner of Europe’s largest tour operator, rose as much as 57 cents, or 10 percent, to 5.98 euros in Frankfurt. The shares traded at 5.94 euros at 10:17 a.m. local time, the biggest gainer in Germany’s MDAX index of medium-sized stocks.
On Aug. 14, lenders to Hapag-Lloyd filed an application for state guarantees worth 1.2 billion euros ($1.71 billion) on their loans. Rollo sees an 80 percent probability that the German government will grant the loan guarantees.
“Our upgrading is mostly due to the likeliness of state aid for Hapag-Lloyd, which gives the shipping line more time to recover,” Rollo said.
TUI’s net debt rose to 2.63 billion euros as of June 30, from 2.58 billion euros at the end of the previous quarter.
- Stato
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Obbligazioni societarie
HIGH YIELD e oltre, verso frontiere inesplorate, vol.3
