Tutto il settore è sotto pressione, anche SERVICIOS CORPORATIVOS JAVER SAPI DE CV, ha preso na bella scoppola...
Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1
- Creatore Discussione TRADING_IDEAS
- Data di Inizio
- Stato
Desarrolladora Homex SAB (HOMEX*) shares and bonds plunged to a record after the homebuilder said it will try to raise money by selling assets and issuing debt after cash last year fell by the most in at least a decade.
Mexico’s biggest homebuilder by sales sank 18 percent to 12.90 pesos at 12:07 a.m. in Mexico City. The company’s bonds due in 2020 dropped 2.24 cents to a record low 57.6 cents on the dollar.
“This serves to corroborate that the situation is very complicated,” Carlos Hermosillo, an equity analyst with Grupo Financiero Banorte SAB, said in a phone interview. “The companies keep burning cash at a fast pace.”
Homex follows Urbi Desarrollos Urbanos SAB (URBI*) and Corp. Geo SAB (GEOB) in taking measures to bolster liquidity as Mexico’s government shifts subsidies to promote capital-intensive apartment buildings in urban areas over single-family houses in the suburbs or countryside. The Culiacan, Mexico-based company’s cash fell by 1.7 billion pesos ($131 million) last year, the most since Bloomberg started compiling the data in 2001.
The company may offer debt backed by future cash flows and private-equity stake sales in its infrastructure and jail projects, according to a filing today with the Mexican stock exchange. Homex also is considering selling assets in its tourism division.
The shares have tumbled 48 percent in the past month, leading a 32 percent decline in the Habita Index of Mexican homebuilder shares.
Geo, Homex and Urbi were the three biggest losers today on the country’s benchmark IPC index, which fell 1.9 percent.
Government ’Commitment’
Geo, Mexico’s second-biggest homebuilder, said last week it would restructure its debt. Urbi, the third-biggest, hired Rothschild as a financial adviser, a person familiar with the move said April 11.
President Enrique Pena Nieto said that Mexico has a “firm commitment” to the sector at a housing event in Mexico City on April 11.
The government said March 6 it would cover as much as 30 percent of banks’ losses on loans made to the country’s homebuilders. Homex said last week it was the first company to obtain a bridge loan under the program.
“The government supports the housing sector,” Hermosillo said. “That doesn’t mean necessarily support for these home developers. It’s a very broad industry.”
Geo shares fell 15 percent to 5.37 pesos. Urbi dropped 13 percent to 2.33 pesos.
To contact the reporter on this story: Veronica Navarro Espinosa in New York at [email protected]
To contact the editor responsible for this story: David Papadopoulos at [email protected]
Mexico’s biggest homebuilder by sales sank 18 percent to 12.90 pesos at 12:07 a.m. in Mexico City. The company’s bonds due in 2020 dropped 2.24 cents to a record low 57.6 cents on the dollar.
“This serves to corroborate that the situation is very complicated,” Carlos Hermosillo, an equity analyst with Grupo Financiero Banorte SAB, said in a phone interview. “The companies keep burning cash at a fast pace.”
Homex follows Urbi Desarrollos Urbanos SAB (URBI*) and Corp. Geo SAB (GEOB) in taking measures to bolster liquidity as Mexico’s government shifts subsidies to promote capital-intensive apartment buildings in urban areas over single-family houses in the suburbs or countryside. The Culiacan, Mexico-based company’s cash fell by 1.7 billion pesos ($131 million) last year, the most since Bloomberg started compiling the data in 2001.
The company may offer debt backed by future cash flows and private-equity stake sales in its infrastructure and jail projects, according to a filing today with the Mexican stock exchange. Homex also is considering selling assets in its tourism division.
The shares have tumbled 48 percent in the past month, leading a 32 percent decline in the Habita Index of Mexican homebuilder shares.
Geo, Homex and Urbi were the three biggest losers today on the country’s benchmark IPC index, which fell 1.9 percent.
Government ’Commitment’
Geo, Mexico’s second-biggest homebuilder, said last week it would restructure its debt. Urbi, the third-biggest, hired Rothschild as a financial adviser, a person familiar with the move said April 11.
President Enrique Pena Nieto said that Mexico has a “firm commitment” to the sector at a housing event in Mexico City on April 11.
The government said March 6 it would cover as much as 30 percent of banks’ losses on loans made to the country’s homebuilders. Homex said last week it was the first company to obtain a bridge loan under the program.
“The government supports the housing sector,” Hermosillo said. “That doesn’t mean necessarily support for these home developers. It’s a very broad industry.”
Geo shares fell 15 percent to 5.37 pesos. Urbi dropped 13 percent to 2.33 pesos.
To contact the reporter on this story: Veronica Navarro Espinosa in New York at [email protected]
To contact the editor responsible for this story: David Papadopoulos at [email protected]
prezza 103.715 : 106.215
yield 4.8/4.9
rating B1
taglio 50.000
troppo cara secondo me
fabriziof
Forumer storico
preso cip a 84,5
Io attendo per entrare nel settore, voglio vedere prima come evolve la ristrutturazione di homex
fabriziof
Forumer storico
sembrano fiduciosi:
Investor Relations Officer
Culiacan, April 15th, 2013-Desarrolladora Homex, S.A.B. de C.V. (Homex or the Company) [NYSE:HXM, BMV: Homex], in respect of current media and analysts' reports of a liquidity squeeze in the Mexican Housing sector, Homex believes that is important to maintain fluent lines of communications with investors and all its stakeholders regarding the Company's position and actions in this environment. Accordingly, Homex is today communicating alternative scenarios that the Company is working on to improve its short-term liquidity. Should these actions materialize, they will result in strengthening the Company's financial position, while at the same time positioning Homex to realize important and meaningful business opportunities in the future. The Company is currently analyzing short-term approaches to maximize the value of its current infrastructure contracts:
1. Monetizing the value of the division's future cash flows through the issuance of mezzanine debt financing.
2. Private placement equity sale, at the penitentiaries trusts or the "Homex Infraestructura"
level.
These short-term alternatives are complementary to the securitization of the future cash flows of the penitentiaries projects, a strategy at which the Company has been working since last year.
At the same time, the Company is pursuing the sale of some non-strategic assets, principally, at its
Tourism division.
The Company believes that these alternatives could create additional value to shareholders, while bringing new resources to the Holding company. Homex will inform investors on a timely basis, of going-forward decisions to be made on the above-mentioned alternatives.
"These had been challenging times, and we are working in conjunction with housing authorities, financial institutions and most importantly inside the Company to successfully navigate during this period. We continue to be confident in the prospects for the housing industry in Mexico, as the National Housing Plan, which is a six-year plan, emphasizes the importance of housing as a leading economic driver in the country, and recognizes the large number of Mexican families that continue to be under-served. In the short-term, the environment will continue to be challenging, nonetheless we trust in our quality product offering and in our experienced management team to accelerate our operations throughout the year in our Mexico division. At the same time, we trust in the strategies that we are pursuing through our key strategic asset, "Homex Infraestructura", to strengthen our liquidity." Commented Gerardo de Nicolás Chief Executive Officer of Homex.
iguanito
Forumer storico
E' quotata da qualche parte?
- Stato
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