Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1 (5 lettori)

[qquebec]

questi governi messicani stanno facendo di peggio quindi capaci di far fallire tre o quattro aziende delle Telecom come ridere

Novità dal fornte caldo?

 

[Brizione]

Novità dal fornte caldo?

parlano
non si sa
ma non si vede nulla

 

[Brizione]

HEIDELBERG.NTS11/18REG.S (Reg.S)
DE000A1KQ1E2
euro 50.000
9.250

si prende sui 100

qualcuno ha dati anche economici recenti?

 

[nik.sala]

Codere : ha pagato ?!

Madrid, 5th of July 2013
In accordance with article 82 of the 24/1998 Spanish Stock Market Act and its dispositions, Codere S.A. hereby informs of the following:

SIGNIFICANT EVENT ​

First: On today's date and further to the regulatory notifications (hechos relevante) made on 12, 13, 21 and 28 June 2013 (numbers 188,954, 189,056, 189,899 and 189,839, respectively), CODERE, S.A. and the lender entities have entered into an amendment and restatement agreement of the Senior Facilities Agreement whereby, upon compliance with certain conditions precedents, the Senior Facility Agreement will be amended in accordance with the terms described in the regulatory notification number 189,056, thus is :
(i) Term: six (6) months from the date of compliance with the conditions precedent.
(ii) Amount: The maximum available amount is Euros 98,560,385 € (ninety eight millions and five hundred sixty thousand three hundred eighty five Euros), from which up to sixty million Euros will be credit available in cash and the remainder in guarantee instruments.
(iii) Up-front fee: 5% of the total amount of available amount under the senior facilities agreement (as amended and extended).
(iv) Commitment Fee: As regards the credit available in cash, a commitment fee equal to 3.25 % per annum on the available amount.
(v) Interest rate: The applicable interest rate shall be the higher of: (a) 8.50% per annum or (b) LIBOR plus 7.50% per annum.
(vi) Mandatory Prepayment: the documentation shall contain the usual mandatory prepayment events for this kind of transactions, and, in addition, an obligation to prepay all amounts due under the senior facilities agreement in the event that the coupons due under the euro senior notes or US dollar senior notes issued by Codere Finance Luxembourg, S.A. is paid by Codere Finance Luxembourg, S.A (except in respect of payment of the coupon outstanding from 15 June 2013 by means of the euro notes).
(vii) Acquisition by the Noteholders: In the event that the holders of the Euro Notes (defined below) or Dollar Notes issued by Codere Finance Luxembourg, S.A. exercise their option, granted under the terms of the intercreditor agreement dated 24 June 2005 (as amended) to acquire the position of the lenders under the senior facilities agreement, the latter will be entitled to receive, in addition to the amounts payable by the noteholders pursuant to the terms of the option, an amount equivalent to the interests which would have accrued on such facilities (assuming they are drawn in full) from the date of such exercise until the termination date of the senior facilities agreement, discounted by the equivalent UK government liability of equal duration;
(viii) Financial covenants: the amended senior facility agreement does not include any maintenance covenants.
Additionally, the Codere has granted to the lenders the option to participate in any refinancing transaction of the Senior Facility Agreement.

 

[zoro-aster]

Madrid, 5th of July 2013
In accordance with article 82 of the 24/1998 Spanish Stock Market Act and its dispositions, Codere S.A. hereby informs of the following:

SIGNIFICANT EVENT ​

First: On today's date and further to the regulatory notifications (hechos relevante) made on 12, 13, 21 and 28 June 2013 (numbers 188,954, 189,056, 189,899 and 189,839, respectively), CODERE, S.A. and the lender entities have entered into an amendment and restatement agreement of the Senior Facilities Agreement whereby, upon compliance with certain conditions precedents, the Senior Facility Agreement will be amended in accordance with the terms described in the regulatory notification number 189,056, thus is :
(i) Term: six (6) months from the date of compliance with the conditions precedent.
(ii) Amount: The maximum available amount is Euros 98,560,385 € (ninety eight millions and five hundred sixty thousand three hundred eighty five Euros), from which up to sixty million Euros will be credit available in cash and the remainder in guarantee instruments.
(iii) Up-front fee: 5% of the total amount of available amount under the senior facilities agreement (as amended and extended).
(iv) Commitment Fee: As regards the credit available in cash, a commitment fee equal to 3.25 % per annum on the available amount.
(v) Interest rate: The applicable interest rate shall be the higher of: (a) 8.50% per annum or (b) LIBOR plus 7.50% per annum.
(vi) Mandatory Prepayment: the documentation shall contain the usual mandatory prepayment events for this kind of transactions, and, in addition, an obligation to prepay all amounts due under the senior facilities agreement in the event that the coupons due under the euro senior notes or US dollar senior notes issued by Codere Finance Luxembourg, S.A. is paid by Codere Finance Luxembourg, S.A (except in respect of payment of the coupon outstanding from 15 June 2013 by means of the euro notes).
(vii) Acquisition by the Noteholders: In the event that the holders of the Euro Notes (defined below) or Dollar Notes issued by Codere Finance Luxembourg, S.A. exercise their option, granted under the terms of the intercreditor agreement dated 24 June 2005 (as amended) to acquire the position of the lenders under the senior facilities agreement, the latter will be entitled to receive, in addition to the amounts payable by the noteholders pursuant to the terms of the option, an amount equivalent to the interests which would have accrued on such facilities (assuming they are drawn in full) from the date of such exercise until the termination date of the senior facilities agreement, discounted by the equivalent UK government liability of equal duration;
(viii) Financial covenants: the amended senior facility agreement does not include any maintenance covenants.
Additionally, the Codere has granted to the lenders the option to participate in any refinancing transaction of the Senior Facility Agreement.

oggi le azioni CODERE sono aumentate quasi il 12% dovuto all`accordo raggiuno con il pool di fondi disposti a rifinanziare la compagnia. L`accordo firmato per 98,5 MIL di euro avrà durata semestrale con comissione di apertura del 5% e un interesse che sarà il maggiore tra 8,50% o il Libor più il 7,50% viene contemplato anche una commissione di disponibilità (massimo scoperto) del 3,25% - vaya acuerdo- diciamo da queste parti!Informa CODERE che il bilancio 2012 che dichiarava perdita per 104,7 MIL a causa di errori contabili è stato riformato e conta oggi con un risultato in perdita per 134 MIL di euro.
MORALEJA: la cedola sicuramente la pagheranno in futuro si vedrà

 

[capt.harlock]

A quanto si compra per curiosita'?

Grazie

alpine non la seguo da tempo, però sotto 5 francamente un po di interesse mi è tornato.

non ho seguito un tubo.

ma possibile il recovery sia cosi infimo? non ci sono chance di recuperare tra 10 e 20?

sotto i 3 si prendono su francoforte

ALPINE HOLDING 10/15 | Anleihe | A1AYFX | AT0000A0JDG2 | Börse Frankfurt

 

[nik.sala]

Codere Gets Loan to Refinance as Bond Coupon Deadline Looms


By Julie Miecamp & Abigail Moses - Jul 5, 2013 1:01 PM GMT+0200


Codere SA (CDR), the Madrid-based gaming company that didn’t pay a bond coupon last month, agreed terms on a 99 million-euro ($128 million) six-month loan to replace debt that fell due in June.
The facility, which replaces a 60 million-euro credit line, pays either 8.5 percent or 7.5 percent more than benchmark rates, whichever is higher, according to a company filing. Lenders, which Codere didn’t identify, will allow the company to use the new borrowing to pay the missed coupon.
Codere has until July 15 to make the interest payment and has been in talks with Canyon Partners LLC and GSO Capital Partners LP, a unit of Blackstone Group LP, to provide the refinancing. The loss-making company, which has about 1 billion euros of bonds outstanding, has been hurt by a fall in profits from its business in Argentina, where it generates more than a third of revenue, and gambling rules in Mexico.
“The company may pay the June coupon in July, but the other coupons are at threat,” Ivan Palacios, an analyst at Moody’s Investors Service in Madrid, said in a telephone interview. “We think the most likely outcome is that there will be a restructuring well before 2015.”
The cost of insuring against default on 10 million euros of Codere’s debt for five years fell by 200,000 euros to 4.5 million euros in advance and 500,000 euros annually, according to CMA prices at 9 a.m. in London. That signals an 85 percent chance of default within that time, assuming bondholders recover 40 percent in the event.
August Payment

Codere is due to pay interest on its $300 million of 9.25 percent bonds on Aug. 15, with a 30-day grace period, according to data compiled by Bloomberg. If the company pays the coupon then it must also repay the new loan, according to today’s statement.
“It’s a bit odd to provide a facility that doesn’t give the company much time or ground to sort itself out,” said Roman Gaiser, who oversees 2 billion euros of bonds as head of high yield at Pictet Asset Management SA in Geneva. “If the company isn’t able to raise more funding by September 15, it seems like they will be unable to pay the coupon on the dollar bonds, and hence default.”
Codere was downgraded to ‘Selective Default’ by Standard & Poor’s on June 21 after it failed to pay 31 million euros of interest due on its 760 million euros of 8.25 percent notes maturing 2015. The company had a further 30 days to make the payment.
A total of 2,753 credit-default swaps contracts covering $415 million of Codere’s debt were outstanding as of June 28, according to the Depository Trust & Clearing Corp. There were 74 trades covering $176 million of the company’s debt last week.
To contact the reporters on this story: Julie Miecamp in London at [email protected]; Abigail Moses in London at [email protected]
To contact the editor responsible for this story: Faris Khan at [email protected]

 

[arkymede74]

sotto i 3 si prendono su francoforte

ALPINE HOLDING 10/15 | Anleihe | A1AYFX | AT0000A0JDG2 | Börse Frankfurt

il discorso è prenderli o no??

hai intenzione di rivolgerti allo studio KSV1870 per l'insinuazione al passivo??

KSV - <span style='color:#e8004c'>ALPINE Bau GmbH - Konzerninsolvenz</span>

io ho già mandato una mail per chiedere lumi.. magari potresti chiedere info anche tu... cosi' vediamo che dicono..

 

[capt.harlock]

il discorso è prenderli o no??

hai intenzione di rivolgerti allo studio KSV1870 per l'insinuazione al passivo??

KSV - <span style='color:#e8004c'>ALPINE Bau GmbH - Konzerninsolvenz</span>

io ho già mandato una mail per chiedere lumi.. magari potresti chiedere info anche tu... cosi' vediamo che dicono..

nella batteria delle ristrutturazioni/furti espropri/bad bank alpine manca all' appello nel mio ptf

non ho idea di se o cosa si possa tentare di recuperare su alpine

 

[CEDOLONE]

HEIDELBERG.NTS11/18REG.S (Reg.S)
DE000A1KQ1E2
euro 50.000
9.250

si prende sui 100

qualcuno ha dati anche economici recenti?

le avevo prese a 99,33 ...
i dati li ho fino al 2012...sarebbe bello avere un primo sem 2013..