Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 1

[gionmorg]

Rivoglio il titolo di prima.
O comunque questo non mi piace!

 

[gionmorg]

Sells USD 650 mn 8Y bonds at a yield of 9.5%
“Sell” the CEMEX 9.625% 12/17 at 101.75 or a Z-spread of 654 bps
After Cemex recently pulled a USD 650 mn bond sale, it added USD 650 mn to its CEMEX 9% 01/18 bonds yesterday. These were issued at 97.616 yielding 9.5%. We believe that the issuance is a smart move and Cemex used the window of opportunity to lengthen its debt maturity profile. However, while liquidity for the time being is sufficient, there is a big maturity wall coming up in 2014. Furthermore, cash flow generation is very low as a result of its high interest burden (net leverage currently is at 7.6x). In our view, given its high debt load a further equity issuance would be a reasonable move despite the corresponding dilution for its shareholders. However, this does not appear to be on the agenda as equity investors have already pursued several capital raising exercises. We keep our “sell” recommendation for now and maintain our “High Risk” assessment on the LARA scale.

 

[gionmorg]

Prices its EUR 300 mn tap of the 8.875% 12/18 notes at 99 to yield 9.06%
“Buy” ONOSM 8.875% 10/18 at 100.2 or a Z-spread of 584 bps; “Hold” ONOSM 11.125% 07/19 at 105.5 or a Z-spread of 706 bps and 10.875% 07/19 at 105.5 and a Z-spread of 756 bps respectively
ONO successfully priced its EUR 300 mn tap of its senior secured bonds yesterday. The price was 99 with a yield of 9.06%, which was roughly in line with price talk. As previously discussed, we believe this is a positive step for ONO, which is still working on its turn-around plan. We continue to believe a successful result to this plan is critical to refinancing the EUR 2.4 bn in 2013, possibly through an IPO or other liquidity injection. We maintain our “High Risk” assessment on the LARA scale.

 

[nik.sala]

Rivoglio il titolo di prima.
O comunque questo non mi piace!

Magari si potrebbe fare :
Oltre l'High Yield, verso frontiere inesplorate : il 3D delle ciofeche

 

[gionmorg]

Magari si potrebbe fare :
Oltre l'High Yield, verso frontiere inesplorate : il 3D delle ciofeche

Nel titolo, dovremmo mettere ogni volta un bond che in quel momento è la ciofecazza di turno, quindi in questo momento metterei eircom ovvero seat pg

 

[gionmorg]

Per QQ prezzo fresco fresco IW lighthouse 36.5/37

 

[fabriziof]

Non sapevo che eri finito anche te in mezzo a questi squali (o forse me lo avevi detto, ma poi mi sono dimenticato)

Fossi in te, me ne andrei con la coda in mezzo alle gambe. Domani.

anche volendo...oggi book agghiacciante ,denaro solo 588 pezzi a 49,3

 

[bia06]

lotti minimi

, i bond citati qui sotto sono tutti da 100k€ di lotto minimo?
Ringrazio

Prices its EUR 300 mn tap of the 8.875% 12/18 notes at 99 to yield 9.06%
“Buy” ONOSM 8.875% 10/18 at 100.2 or a Z-spread of 584 bps; “Hold” ONOSM 11.125% 07/19 at 105.5 or a Z-spread of 706 bps and 10.875% 07/19 at 105.5 and a Z-spread of 756 bps respectively
ONO successfully priced its EUR 300 mn tap of its senior secured bonds yesterday. The price was 99 with a yield of 9.06%, which was roughly in line with price talk. As previously discussed, we believe this is a positive step for ONO, which is still working on its turn-around plan. We continue to believe a successful result to this plan is critical to refinancing the EUR 2.4 bn in 2013, possibly through an IPO or other liquidity injection. We maintain our “High Risk” assessment on the LARA scale.

 

[nik.sala]

, i bond citati qui sotto sono tutti da 100k€ di lotto minimo?
Ringrazio

Si si, sennò sarei entrato al volo

 

[fabriziof]

mi era sfuggito che cma cgm ha emesso un bond, scad 2019 ced 8,875 ,XS0618662562,quota sugli 83-85