Peco
Forumer storico
Rimangono quotate
Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa
bulogna
Forumer storico
Vediamo cosa dice il mercato oggi pomeriggio.
bulogna
Forumer storico
Non è cambiato nulla i prezzi sono sempre quelli.
Fabrib
Forumer storico
NEW YORK (Reuters) - U.S. Federal Reserve Chair Jerome Powell said on Wednesday that while there was "a great deal to like" about U.S. prospects, the Fed's gradual interest-rate hikes are meant to balance risks as it tries to keep the economy on track.
"We know that things often turn out to be quite different from even the most careful forecasts," Powell said in a speech that comes in the wake of last week's volatile market selloff. "Our gradual pace of raising interest rates has been an exercise in balancing risks."
Powell offered few clues on how much longer the U.S. central bank would raise interest rates in the face of a slowdown overseas and market volatility at home. Instead he highlighted a new financial stability report the Fed published earlier on Wednesday.
"My own assessment is that, while risks are above normal in some areas and below normal in others, overall financial stability vulnerabilities are at a moderate level," he said at an Economic Club of New York luncheon.
"We know that things often turn out to be quite different from even the most careful forecasts," Powell said in a speech that comes in the wake of last week's volatile market selloff. "Our gradual pace of raising interest rates has been an exercise in balancing risks."
Powell offered few clues on how much longer the U.S. central bank would raise interest rates in the face of a slowdown overseas and market volatility at home. Instead he highlighted a new financial stability report the Fed published earlier on Wednesday.
"My own assessment is that, while risks are above normal in some areas and below normal in others, overall financial stability vulnerabilities are at a moderate level," he said at an Economic Club of New York luncheon.
Peco
Forumer storico
Buongiorno Maurizio,
non riesco a inviarti il file, in alternativa vai a Associated Documents cerca la data 12 dicembre 2014 14:16:55 prospetto informativo
NoWay
It's time to play the game
Non ti immagini quanto tempo ho buttato per cercarlo... grazie davvero...
locco68
violaforever
New Issue: FFH FixedReset 5.75%+315
Fairfax Financial Holdings has announced:
that it will issue in Canada 8 million Preferred Shares, Series C at a price of $25.00 per share, for aggregate gross proceeds of $200 million, on a bought deal basis to a syndicate of Canadian underwriters.
Holders of the Preferred Shares, Series C will be entitled to receive a cumulative quarterly fixed dividend yielding 5.75% annually for the initial five year period ending December 31, 2014. Thereafter, the dividend rate will be reset every five years at a rate equal to the then current 5-year Government of Canada bond yield plus 3.15%.
Holders of Preferred Shares, Series C will have the right, at their option, to convert their shares into Preferred Shares, Series D, subject to certain conditions, on December 31, 2014, and on December 31st every five years thereafter. Holders of the Preferred Shares, Series D will be entitled to receive cumulative quarterly floating dividends at a rate equal to the then current three-month Government of Canada Treasury Bill yield plus 3.15%.
Fairfax has granted the underwriters an option, exercisable in whole or in part at any time up to 48 hours prior to closing, to purchase an additional 2 million Preferred Shares, Series C at the same offering price for additional gross proceeds of $50 million.
Fairfax intends to use the net proceeds of the offering to augment its cash position, to increase short term investments and marketable securities held at the holding company level, to retire outstanding debt and other corporate obligations from time to time, and for general corporate purposes. The offering is expected to close on or about October 5, 2009.
The first dividend is payable 2009-12-31 for $0.34362.
This issue continues – and extends – the trend towards lower quality in FixedReset issuance: the issue is provisionally rated Pfd-3(low) by DBRS and P-3 by S&P.
It is rather interesting that a financial holding company is issuing cumulative preferreds (and I gnash my teeth about it, because “cumulative” has been a very good proxy for “non-financial” in my analysis). Assiduous Readers will remember that Treasury’s wish-list for bank regulation includes:
many of the [Bank Holding Companies] that have been most active in volatile capital markets activities have not been held to the highest consolidated regulatory capital standard available. To remedy this situation, in addition to the current [Financial Holding Company (FHC)] eligibility requirements, all FHCs should be required to achieve and maintain well-capitalized and well-managed status on a consolidated basis.
In civilized countries (as opposed to Canada), Tier 1 Capital is not cumulative, so Fairfax is either unconcerned about the prospects of consolidation or is convinced that this issue will be grandfathered if consolidation becomes effective.
tassi canada 5 y: 2,275...….
Peco
Forumer storico
L’utility NiSource (NYSE: NI) emette nuove azioni privilegiate a tasso fisso con una cedola iniziale del 6,50%.
La pref è valutata da parte di S & P BBB- e "high junk" da Moodys e Fitch rispettivamente a Ba1 e BB +.
Il titolo sarà a tasso fisso del 6,50% fino al 15/03/2024 poi U.S. Treasury 5 anni i più uno spread del 3.632% fino al 15/03/2044, poi sarà ripristinato al Treasury US 5 anni più uno spread del 4.632% .
FWP
La pref è valutata da parte di S & P BBB- e "high junk" da Moodys e Fitch rispettivamente a Ba1 e BB +.
Il titolo sarà a tasso fisso del 6,50% fino al 15/03/2024 poi U.S. Treasury 5 anni i più uno spread del 3.632% fino al 15/03/2044, poi sarà ripristinato al Treasury US 5 anni più uno spread del 4.632% .
FWP
