Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1 (6 lettori)

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cristian2008

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gionmorg ha scritto:
8.67% Yield, EastComTrans Yankee Bond
Issuer: EastComTrans LLP
Coupon: 7.75%
Maturity: 4/22/18
Ratings: B3/-/B
Pays: Semi-annually
Price: 97.0 (5/27/14)
Yield to Maturity: ~8.67%
Portfolios: FX1 and FX2
In 2013, EastComTrans increased its gross profit by almost 30%, its operating profit by over 32%, and its profit before tax by over 35%.
More about EastComTrans.

10%Yield, Aeropuertos Argentina Yankee Bond
Issuer: Aeropuertos Argentina 2000
Coupon: 10.75%
Maturity: 12/1/2020
Ratings: CAA1/CCC+
Pays: Quarterly
Price: 101.75 (4/30/14)
Yield to Maturity: ~10.14%
Portfolios: FX1 and FX2
Airport Management (monopoly), Argentina
2012 Revenues in Argentine Pesos were up 66% and Net Income was up 46%. This is a sinking bond where ½ of the principal will have been returned by Oct 2017; therefore it has reduced risks and increased cash flow.
More about Aeropuertos Argentina.

7.5% Yield, Canwel Building Materials, in Canadian Dollars
Issuer: Canwel Building Materials Group
Stock Ticker: CWX.TO
Price: 2.77 (4/4/14)
Coupon: 5.85%
Maturity: 4/30/2017
Ratings: NA
Conversion price: 6.40 (any time prior at bondholder’s option)
Pays: Semi-annually
Price: 94.45 (4/9/14)
Yield to Maturity: ~7.94%
Portfolios: FX2 and FX3
In 2013, in spite of a cold Canadian winter that saw housing starts drop by 13%, Canwel increased its net earnings by 19.7%, increased its margin to 11.0%, and increased its operating earnings by 18%.
More about Canwel.

10%Yield, AB InBev (Anheuser-Busch) in Brazilian Reals
Issuer: AmBev/Anheuser-Busch Inbev SA/NV
Coupon: 9.5%
Maturity: 7/24/2017
Ratings: A2/A
Pays: Semi-annually
Price: 97.0 (4/16/14)
Yield to Maturity: ~10.6%
Portfolios: FX2 and FX3
Total revenue in the first quarter of 2014 grew by 8.9% over the year-ago quarter. Total volume and revenue per unit volume both grew by 4.4%.
More about AB InBev.

12% Yield, MNC Investama Yankee Bond
Issuer: Ottawa Holdings Pte. Ltd/PT Bhakti Investama Tbk
Coupon: 5.875%
Maturity: 5/16/2018
Ratings: B2/BB-
Pays: Semi-annually
Price: 80.25 (3/24/14)
Yield to Maturity: ~12.08%
Portfolios: FX1 and FX2
MNC Investama’s grew EBITDA by 12% in 1Q2014 over the comparable year-ago quarter. The company’s subsidiaries contributed higher revenues, EBITDA and net income compared to the same period a year ago.
More about MNC Investama.

10.75% Yield, Rolta Yankee Bond
Issuer: Rolta LLC
Coupon: 10.75%
Ratings: -BB
Maturity:5/16/2018
Pays: Semi-annually
Price: 100.0 (2/19/14)
Yield to Maturity: ~10.74%
Portfolios: FX1 and FX2
Rolta reports that its latest nine months’ consolidated revenue grew by 59.7%, and its net profit by 37.2%, over FY2014. In addition, the company received the patents it had applied for in the US for certain unique technologies and processes embedded in Rolta’s offering for cloud security, enterprise integration, and IT integration solutions.
More about Rolta.

8.25% Yield, HudBay Yankee Bond
Issuer: HudBay Minerals
Coupon: 9.5
Maturity: 10/1/2020
Rating: B3/B-
Pays: Semi-annually
Price: 104.8 (2/13/14)
Yield to Maturity: ~8.22%
Portfolios: FX1 and FX2
HudBay’s Lalor (Manitoba) mine achieved commercial production ahead of guidance and under budget; its Constancia (Peru) project is on track for first production in late 2014 and commercial production in Q2 2015; and its Reed (Manitoba) mine was completed under budget and operated at 792 tonnes per day in the first quarter.
More about HudBay.

8.8% Yield, Avangardco Yankee Bond
Issuer: AvangardCo
Coupon: 10.0%
Maturity: 10/29/2015
Ratings: B- (Fitch)
Pays: Semi-annually
Price: 101.9 (1/14/14)
Yield to Maturity: ~8.81%
Portfolios: FX1 and FX2
In the first quarter of 2014, revenue in the company’s main business segments (shell eggs and dry egg products) increased by 7% year-on-year as a result of doubling of the production and sales of dry egg products. However, consolidated revenue declined by 2%year–on-year due to the impact of the Ukrainian hryvnia devaluation against the US dollar. Export revenue continued to grow and accounted for 40% of total revenue, reaching US$ 62 mln.
More about Avangardco.

6.5%-9% Yield, Temple Hotels, in Canadian Dollars
Issuer: Temple Hotels
Ticker: TPH.TO
Toronto: $5.73 1/16/2014
Debenture (Bond): TPH.DB.C
Coupon: 8.0%
Maturity: 12/31/2016
Conversion Price: $ 5.82
Rating: none
Pays: Semi-annually
Price: 104.0 (12/31/13)
Yield to Maturity: ~6.5%
Portfolios: FX2 and FX3
Operating income increased by $380,000 or 3% during the first quarter of 2014. Cash flow from operating activities increased by $2.1 million during the same period.
More about Temple Hotels.

9.66% Yield, Dana Gas Yankee Sukuk
Issuer: Dana Gas
Coupon: 9.0
Maturity: 10/31/2017
Rating: NA
Pays: Quarterly
Price: 97.875 (12/11/13)
Yield to Maturity: ~9.66%
Portfolios: FX1 and FX2
First-quarter operating profits rose 67 per cent to $45 million (Dh164 million) against $27 million (Dh98 million) in Q1 2013. Production for Q1 2014 increased by 12 per cent
More about Dana Gas.

8.45% Yield, Camposol Yankee Bond
Issuer: Camposol S.A.
Coupon: 9.875%
Ratings: B
Maturity: 02/02/2017
Pays: Semi-Annual
Price: 103.9 (11/12/13)
Yield to Maturity: ~8.45%
Portfolios: FX1 and FX2
Q1 2014 revenue was up 49%, and EBITDA up 83.9%, over the same quarter in 2013.
More about Camposol.

14.38% Yield, Brigus Gold Yankee Bond
Issuer: Brigus Gold
Ticker: BRD
NYSE: $0.74 10/24/2013
Debenture (Bond):
Coupon: 6.5%
Maturity: 3/31/2016
Conversion Price: $ 2.45
Rating: none
Pays: Semi-annually
Price: 84.5 (11/7/13)
Yield to Maturity: ~14.42%
Portfolios: FX1 and FX2
On February 27th, 2014, Primero Mining Company and Brigus Gold announced that Primero would acquire Brigus. Brigus (now Primero) bonds are now trading at a premium.
More about Brigus and the buyout offer from Primero Mining.

10% Yield, Transportadora De Gas Del Sur Yankee Bond
Issuer: Transportadora de Gas del Sur S.A
Coupon: 7.875%
Maturity: 5/14/2017 (laddered redemption, 25 month average)
Ratings: B3/B-
Pays: Semi-annually
Price: 96.25 (10/29/13)
Average Life Yield: ~11.18%
Portfolios: FX1 and FX2
For the quarter ended March 31, 2014, TGS posted total net revenues of
1,240.1 million Argentine pesos, compared to 825.7 million Argentine pesos recorded in the same period of 2013. Cash flow from operating activities increased over the year-ago quarter from 288.2 million Argentine pesos to 491.6 million Argentine pesos, an increase of over 70%.
More about Transportadora De Gas Del Sur.

7% Yield, Diamorph, in Swedish Krona
Issuer: Diamorph
Coupon: 12.00%
Maturity: 7/6/2017
Ratings: B
Pays: Semi-annually
Price: 110.55 (10/23/13)
Yield to Worst Call (107.5 in 2014): ~6.96%
Yield to Maturity: ~8.6%
Portfolios: FX2 and FX3
Year-over-year sales for the first quarter of 2014 were up 4.2% over 2013, and operating income was up 12.0%
More about Diamorph.

10.76% Yield, Mriya Agro Yankee Bond
Issuer: Mriya Agro Holding Co.
Coupon: 10.95%
Maturity: 03/30/2016
Ratings: B/B-
Pays: Semi-Annually
Price: 100.40 (10/4/13)
Yield to Maturity: ~10.76%
Portfolios: FX1 and FX2
In its most recent annual financial report (2013), Mriya showed an increase of 43.3% in revenues from operations, and an increase of 17% in total revenues. The company also increased the amount of land under cultivation, and increased its agricultural yield.
More about Mriya Agro.

8.25% Yield, Gajah Tunggal Yankee Bond
Issuer: PT Gajah Tunggal
Coupon: 7.75%
Maturity: 02/06/2018
Ratings: B2/B+
Pays: Semi-Annual
Price: 98.185 (9/26/13)
Yield to Maturity: ~8.25%
Portfolios: FX1 and FX2
Gajah Tunggal’s net sales increased by 5.3% in the first quarter of 2014 from the first quarter of 2013 . Export sales grew by 29.6% over the corresponding period in 2013, thanks to a recovery in sales to the US and Europe.
More about Gajah Tunggal.

10% Yield, Trade & Development Bank of Mongolia Yankee Bond
Issuer: Trade & Development Bank of Mongolia
Coupon: 8.5%
Maturity: 10/15/2015
Ratings: B1
Pays: Semi-annually
Price: 97.35 (9/20/13)
Yield to Maturity: ~10%
Portfolios: FX1 and FX2
Trade and Development Bank of Mongolia’s operating income, more than doubled, increasing by 102.5% from 2012 to 2013. Net profit did even better, increasing by 120%.
More about Trade & Development Bank of Mongolia.

9.85% Yield, Alto Palermo Yankee Bond
Issuer: Alto Palermo
Coupon: 7.875
Ratings: -/B+/B+
Maturity: 5/11/2017
Pays: Semi-annually
Price: 94.0 (9/18/13)
Yield to Maturity: ~9.87%
Portfolios: FX1 and FX2
From 2012 to 2013, sales were down by 0.7%, and operating income was down by 3.1%.
More about Alto Palermo.

9.6% Yield, Ferrexpo Yankee Bond
Issuer: Ferrexpo
Coupon: 7.875
Maturity: 4/07/2016
Ratings: B+/B2/B
Pays: Semi-annually
Price: 95.95 (8/23/13)
Yield to Maturity: ~9.66%
Portfolios: FX1 and FX2
In fiscal year 2013, Ferrexpo’s were up 11%, before-tax profit was up 15%, and cash flow from operating activities was up 96%.
More about Ferrexpo.

8.4% Yield, NordGold Yankee Bond
Issuer: NordGold
Coupon: 6.375%
Maturity: 5/07/2018
Rating: Ba3
Pays: Semi-annually
Price: 92.25 (8/16/13)
Yield to Maturity: ~8.4%
Portfolios: FX1 and FX2
First-quarter 2014 revenues declined to US$274.9 million from US$296.8 million, due mostly to a decline in the average realized price of gold over the period. In spite of this decline, EBITDA increase by 6% year-on-year, due to higher production and strict cost control, and net income rose by 68% (US$24.6 million in Q1 2014, compared to US$14.6 million in Q1 2013).
More about NordGold.

11.22% Yield, Aeropuertos Argentina Yankee Bond
Issuer: Aeropuertos Argentina 2000
Coupon: 10.75%
Maturity: 12/1/2020
Ratings: B1/B-
Pays: Quarterly
Price: 98.5 (8/6/13)
Yield to Maturity: ~11.22%
Portfolios: FX1 and FX2
Airport Management (monopoly), Argentina
2012 Revenues in Argentine Pesos were up 66% and Net Income was up 46%. This is a sinking bond where ½ of the principal will have been returned by Oct 2017, therefore it has reduced risks and increased cash flow.
More about Aeropuertos Argentina: here and here.

8.9% Yield, Berau Coal Yankee Bond
Issuer: Berau Coal Energy
Coupon: 7.50%
Maturity: 03/13/2017
Ratings: B1/BB-
Pays: Semi-Annual
Price: 95.0 (7/26/13)
Yield to Maturity: ~8.89%
Portfolios: FX1 and FX2
Pre-tax profit increased from US$7.8 million in 2012 to $56.6 million in 2013. Net cash flow from operating activities increased from US$16.5 million to $63.5 million over the same period.
More about Berau Coal.

8.5% Yield, Federal Grid Company, in Russian Rubles
Issuer: Federal Grid Company
Coupon: 8.446%
Maturity: 3/13/2019
Ratings: Baa3/BBB
Pays: Semi-annual
Price: 99.75 (7/16/13)
Yield to Maturity: ~8.5%
Portfolios: FX2 and FX3
Federal Grid Company's revenue for Q1 2014 increased by 11% year-on year, while EBITDA increased by 13% over the same period.
More about Federal Grid Company.

10% Yield, TransGlobe Energy, in Canadian Dollars
Issuer: TransGlobe Energy
Coupon: 6.00%
Ratings: NA
Maturity: 3/31/2017
Pays: Semi-annually
Price: 88.1 (6/28/13)
Yield to Maturity: ~9.87%
Portfolios: FX2 and FX3
The company’s oil sales were up 41% in 2013 over their 2012 levels. Cash flow from operating activities was up 48%. Cash and cash equivalents rose by 89%.
More about TransGlobe Energy.

10% Yield, Coelba, in Brazilian Reals
Issuer: Companhia de Eletricidade do Estado do Bahia (COELBA)
Coupon: 11.75
Maturity: 4/27/2016
Rating: Baa2/BBB-
Pays: Semi-annual
Price: 104.5 (6/19/13)
Yield to Maturity: ~9.88%
Portfolios: FX2 and FX3
During 2013, revenue decreased by 14%, while cash flow from operating activities declined by 6.5%. At the end of 2013, cash and cash equivalents stood at BRL 573.5 million.
More about Coelba.

11% Yield, Transportadora De Gas Del Sur Yankee Bond
Issuer: Transportadora de Gas del Sur S.A
Coupon: 7.875%
Maturity: 5/14/2017 (laddered redemption, 25 month average)
Ratings: B3/B-
Pays: Semi-annually
Price: 88.4 (6/3/13)
Average Life Yield: ~15.38%
Portfolios: FX1 and FX2
For the quarter ended March 31, 2014, TGS posted total net revenues of
1,240.1 million Argentine pesos, compared to 825.7 million Argentine pesos recorded in the same period of 2013. Cash flow from operating activities increased over the year-ago quarter from 288.2 million Argentine pesos to 491.6 million Argentine pesos, an increase of over 70%.
More about Transportadora De Gas Del Sur.


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Ciao Ginmorg
Hai per caso anche i codici ISIN?
Grazie
 
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