Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1 (8 lettori)

[fabriziof]

Ecco la nuova Yioula: GLASSTANK 2019 8.5% XS1069662812 | Obbligazioni - Investireoggi.it

Vediamo come si assesterà il prezzo

 

[fabriziof]

1Q cognor

https://www.google.com/finance?cid=465036245740146

COGNOR SA - Relacje inwestorskie »  Raporty LSE »  Raporty okresowe » 

 

[070162]

fattore correttivo all'acquisto
di questa
ISS Holding AS Anleihe: 8,875% bis 15.05.2016


ISS Holding AS Anleihe: 8,875% bis 15.05.2016 | Anleihe | Bond | A0GRZ4 | XS0253470644

sapete dove lo trovo preciso ?

inoltre perchè all'isin è anche associata questa denominazione

FS FUNDING 8.875 20160515 SUB.....

Lo scorso mese di giugno è stata richiamata parzialmente (vedi allegato). Il coefficiente di rettifica è = 0,6521176. Taglio min. 50k+1
Call @100 a partire dal 15 maggio 2014. Se dovessero esercitarla (ma non credo), il rendimento sarebbe 4,20% acquistando oggi a 102,50. Questo il sito web: ISS World - Group Website

15 Maggio 2013 = 101,479
15 Maggio 2014 = 100,000

Non c'è l'ho, ma da una ricerca veloce su lux è delisted, forse callata?

infatti !.... da quello che diceva QQ.... potrebbe essere.....

... ma non vedo il grano sul conto....

@QQ..... tu ne sai niente ?
@GION... come fai la ricerca su LUX ?

 

[Bixio60]

XS0253470644 rimborsata il 15/05/14 a 100.

 

[qquebec]

infatti !.... da quello che diceva QQ.... potrebbe essere.....

... ma non vedo il grano sul conto....

@QQ..... tu ne sai niente ?
@GION... come fai la ricerca su LUX ?

Rimborsata il 15 Maggio a 100. Sollecitare banca, please!

 

[qquebec]

Ag Spring Finance 9,50% 2019

resta debole

 

[Brizione]

resta debole

AG SPRING FIN.II 13/19 (Reg.S) XS0936805539 senior unsecured B2 9,50%

AG SPRING FIN.II 13/18 (Reg.S) XS0936772341 senior secured B1 7,50%

se scende ancora un po' mi sa che ......


hai notizie che spiegano il calo ?

 

[fabriziof]

AG SPRING FIN.II 13/19 (Reg.S) XS0936805539 senior unsecured B2 9,50%

AG SPRING FIN.II 13/18 (Reg.S) XS0936772341 senior secured B1 7,50%

se scende ancora un po' mi sa che ......


hai notizie che spiegano il calo ?

jpm 2 settimane fa:
Light Q4, Challenging 2014 Ahead, Maintain Neutral – ALERT
 Q4 earnings fell slightly short of our expectations. Avanza results came in light of our forecast as the company reported its first full quarter incorporating the effects of the revised Zaragoza concession. Revenues declined 10% y/y to €96.6m (vs our €100m forecast) and EBITDA decreased 31% y/y to €17.3m (vs our €18.6m est). Aside from the impact of Zaragoza (expected to have a €15m revenue and €7.5m EBITDA impact over the first year of the new concession, which commenced on 1 August), earnings were impacted by the amended Madrid concession (8% network cut beginning in November) and continued weakness in passenger volumes across all segments.
 EBITDA declines drove a moderate free cash burn during the quarter. The company spent €20m in capex during the year, down from €25m the prior year and in line with previous guidance issued when the amended Madrid concession was announced. This reflects its scaled back network (both Zaragoza and Madrid). We note that while the new Zaragoza concession called for reduced capacity largely due to the construction of a parallel tram system in the city, the amendments made to the existing suburban concession in Madrid were made in response to declining passenger volumes. We saw a moderate build-up in
working capital during the fourth quarter, putting further pressure on cash. The company’s cash balance was €37m at YE13 and total liquidity was €54m (including a fully undrawn €17m revolver). Avanza maintained it is comfortable with its current revolver capacity and is not actively seeking additional commitments from prospective lenders at this time.
 YE13 leverage rose by ~0.5x on a sequential basis. At the end of the year, leverage through the senior secured notes (seniors) was 4.4x (4.0x net), while leverage through the senior unsecured notes (subs) was 6.5x (6.0x net). We expect rising leverage in 1H14 due primarily to the impact of the new Zaragoza concession, along with the anticipated effects of the amended concession in Madrid. Even in a reduced capex environment, we do not expect significant free cash flow generation to reduce debt as the EBITDA impact from both Zaragoza and Madrid flow through the P&L for seven and ten months, respectively, in 2014. In Madrid, we note that Avanza operates six urban concessions that made up 69% of suburban revenue in 2012 on 55 million in passenger volumes. While concession renewal risk remains fairly benign up to 2018, the company announced it is awaiting the conclusion of a renewal tender for its Tarrasa urban concession (3% of revenues in 2013). Avanza expects this process to be concluded by May. Given uncertainty amongst Spanish public authorities, we would expect terms for the new concession to be somewhat weaker than the old one.

 

[Brizione]

jpm 2 settimane fa:
Light Q4, Challenging 2014 Ahead, Maintain Neutral – ALERT
 Q4 earnings fell slightly short of our expectations. Avanza results came in light of our forecast as the company reported its first full quarter incorporating the effects of the revised Zaragoza concession. Revenues declined 10% y/y to €96.6m (vs our €100m forecast) and EBITDA decreased 31% y/y to €17.3m (vs our €18.6m est). Aside from the impact of Zaragoza (expected to have a €15m revenue and €7.5m EBITDA impact over the first year of the new concession, which commenced on 1 August), earnings were impacted by the amended Madrid concession (8% network cut beginning in November) and continued weakness in passenger volumes across all segments.
 EBITDA declines drove a moderate free cash burn during the quarter. The company spent €20m in capex during the year, down from €25m the prior year and in line with previous guidance issued when the amended Madrid concession was announced. This reflects its scaled back network (both Zaragoza and Madrid). We note that while the new Zaragoza concession called for reduced capacity largely due to the construction of a parallel tram system in the city, the amendments made to the existing suburban concession in Madrid were made in response to declining passenger volumes. We saw a moderate build-up in
working capital during the fourth quarter, putting further pressure on cash. The company’s cash balance was €37m at YE13 and total liquidity was €54m (including a fully undrawn €17m revolver). Avanza maintained it is comfortable with its current revolver capacity and is not actively seeking additional commitments from prospective lenders at this time.
 YE13 leverage rose by ~0.5x on a sequential basis. At the end of the year, leverage through the senior secured notes (seniors) was 4.4x (4.0x net), while leverage through the senior unsecured notes (subs) was 6.5x (6.0x net). We expect rising leverage in 1H14 due primarily to the impact of the new Zaragoza concession, along with the anticipated effects of the amended concession in Madrid. Even in a reduced capex environment, we do not expect significant free cash flow generation to reduce debt as the EBITDA impact from both Zaragoza and Madrid flow through the P&L for seven and ten months, respectively, in 2014. In Madrid, we note that Avanza operates six urban concessions that made up 69% of suburban revenue in 2012 on 55 million in passenger volumes. While concession renewal risk remains fairly benign up to 2018, the company announced it is awaiting the conclusion of a renewal tender for its Tarrasa urban concession (3% of revenues in 2013). Avanza expects this process to be concluded by May. Given uncertainty amongst Spanish public authorities, we would expect terms for the new concession to be somewhat weaker than the old one.

grazie

non sembra preoccupante

 

[070162]

Rimborsata il 15 Maggio a 100. Sollecitare banca, please!

GRAZIE.... sei insostituibile.... :mano: