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

[fabriziof]

Moody's downgrades El Salvador's issuer rating - BNamericas

 

[gionmorg]

Intelsat : Extends Expiration Date and Withdrawal Deadline of Debt Exchange Offers to May 10, 2017 | 4-Traders

 

[angy2008]

può darsi ,hanno appena ristrutturato

Five days ago, Standard and Poor’s Rating Agency lowered Belize’s long term foreign currency rating from a CC to SD meaning Selective Default. In addition to that Belize was moved from the status of Credit Watch with negative implications where it was placed on February 21. In the short term foreign currency rating, Belize was taken from a C to a D rating. Under the long term local currency category Belize remains with a CC rating and a C rating on the short term local currency rating and in the long term local currency rating, the country went from a negative rating to stable. The S & P Rating Agency also noted in their release issued Monday, March 20 that they have lowered their rating on the bonds included in the sovereign’s debt exchange to ‘D’ from ‘CC’. The rationale behind these changes in ratings relates to Belize’s announcement on March 15, 2017, that holders of more than 87% of the U.S. dollar bonds due in 2038 have consented to amendments to the terms of the bonds, which will alter the interest rate and amortization schedule. The collective action clauses relating to the U.S. dollar bonds specify the voting threshold at 75% of bondholders. Above this threshold, the proposed amendments become binding to all holders of such bonds. According to the proposed amendments, the bonds will have a final maturity date of Feb. 20, 2034, instead of Feb. 20, 2038. In addition, the amendments will provide that the principal amount of such bonds will amortize in five equal, annual installments commencing on Feb. 20, 2030, and ending on Feb. 20, 2034; replacing the original amortization schedule, which was previously scheduled to begin in February 2019. Finally, the interest rate on such bonds (which was scheduled to step up to 6.767% on Aug. 20, 2017) will now be fixed for the life of the bonds at 4.9375%. S & P says, quote, “As per our criteria, we characterize this exchange offer as distressed as it is our view that holders of the U.S dollar bonds have accepted less than the originally promised payments because of the risk that the issuer won’t fulfill its original obligations with respect to such bonds. Also, according to our criteria, once a distressed exchange offer has been confirmed (albeit with a future effective date), we lower the issuer rating to ‘SD’ and the affected issue rating to ‘D’.We believe the government is less likely to default on its local currency-denominated debt, and it has made no mention of its intention to restructure this debt. Therefore we affirmed our local currency ratings.The government of Belize expects that the restructuring will become effective by March 21, 2017. Upon completion of the restructuring, we will reassess the sovereign’s general credit standing, most likely raising the foreign currency long term rating to the ‘CCC’ or low ‘B’ categories.” End of quote.

non fà cenno a mancato pagamento della cedola, anzi i prezzi son saliti perchè forse il mercato temeva qualcosa di peggio di questa rimodulazione di scadenze e cedole, se mantengono quanto pattuito non sarebbe male. Magari qualcuno dei forumer ce l'ha e può confermare la cedola

 

[iguanito]

A proposito di stati sovrani:
Buy repubblica del Congo. Cippino a 76,5.
Speriamo.......

 

[fabriziof]

sell el salvador USP01012AT38 a 88,25 con iw ,rendimento modesto e troppo tassato ,emittente comincia a essere troppo chiacchierato per i miei gusti

 

[gionmorg]

Intelsat : Extends Expiration Date and Withdrawal Deadline of Debt Exchange Offers to May 10, 2017 | 4-Traders

approximately $3.52 million aggregate principal amount of Intelsat Luxembourg’s 7.75% Senior Notes due 2021 had been tendered into Intelsat Luxembourg’s Exchange Offers, representing approximately 0.35% of the aggregate principal amount of the outstanding Intelsat Luxembourg’s 7.75% Senior Notes due 2021;

Giusto perchè devono arrivare almeno all'85%

 

[iguanito]

Incrementato portogallo 2024 xs1085735899 a 97,2

 

[idomeneo1966]

hai un isin?

grazie

approximately $3.52 million aggregate principal amount of Intelsat Luxembourg’s 7.75% Senior Notes due 2021 had been tendered into Intelsat Luxembourg’s Exchange Offers, representing approximately 0.35% of the aggregate principal amount of the outstanding Intelsat Luxembourg’s 7.75% Senior Notes due 2021;

Giusto perchè devono arrivare almeno all'85%

Intanto quotazioni inchiodate, con spread mostruoso
89/99 a berlino

 

[gionmorg]

Intanto quotazioni inchiodate, con spread mostruoso
89/99 a berlino

Misa che hai sbagliato titolo.

 

[Wallygo]

può darsi ,hanno appena ristrutturato


Five days ago, Standard and Poor’s Rating Agency lowered Belize’s long term foreign currency rating from a CC to SD meaning Selective Default. In addition to that Belize was moved from the status of Credit Watch with negative implications where it was placed on February 21. In the short term foreign currency rating, Belize was taken from a C to a D rating. Under the long term local currency category Belize remains with a CC rating and a C rating on the short term local currency rating and in the long term local currency rating, the country went from a negative rating to stable. The S & P Rating Agency also noted in their release issued Monday, March 20 that they have lowered their rating on the bonds included in the sovereign’s debt exchange to ‘D’ from ‘CC’. The rationale behind these changes in ratings relates to Belize’s announcement on March 15, 2017, that holders of more than 87% of the U.S. dollar bonds due in 2038 have consented to amendments to the terms of the bonds, which will alter the interest rate and amortization schedule. The collective action clauses relating to the U.S. dollar bonds specify the voting threshold at 75% of bondholders. Above this threshold, the proposed amendments become binding to all holders of such bonds. According to the proposed amendments, the bonds will have a final maturity date of Feb. 20, 2034, instead of Feb. 20, 2038. In addition, the amendments will provide that the principal amount of such bonds will amortize in five equal, annual installments commencing on Feb. 20, 2030, and ending on Feb. 20, 2034; replacing the original amortization schedule, which was previously scheduled to begin in February 2019. Finally, the interest rate on such bonds (which was scheduled to step up to 6.767% on Aug. 20, 2017) will now be fixed for the life of the bonds at 4.9375%. S & P says, quote, “As per our criteria, we characterize this exchange offer as distressed as it is our view that holders of the U.S dollar bonds have accepted less than the originally promised payments because of the risk that the issuer won’t fulfill its original obligations with respect to such bonds. Also, according to our criteria, once a distressed exchange offer has been confirmed (albeit with a future effective date), we lower the issuer rating to ‘SD’ and the affected issue rating to ‘D’.We believe the government is less likely to default on its local currency-denominated debt, and it has made no mention of its intention to restructure this debt. Therefore we affirmed our local currency ratings.The government of Belize expects that the restructuring will become effective by March 21, 2017. Upon completion of the restructuring, we will reassess the sovereign’s general credit standing, most likely raising the foreign currency long term rating to the ‘CCC’ or low ‘B’ categories.” End of quote.

grazie per l' articolo

non fà cenno a mancato pagamento della cedola, anzi i prezzi son saliti perchè forse il mercato temeva qualcosa di peggio di questa rimodulazione di scadenze e cedole, se mantengono quanto pattuito non sarebbe male. Magari qualcuno dei forumer ce l'ha e può confermare la cedola

si sono d' accordo con te non dovrebbe aver mancato il pagamento