Fabrib
Forumer storico
Ogni amore ha la sua spesa; parliamo di 103,20 con possibile richiamo ad ogni futura cedola. Io passo.Qualcuno sta scaricando Aareal a 25,8...e qualcuno, andato in confusione, è in denaro a 25,96
Obbligazioni in dollari Keep Calm And Invest Preferred Shares Usa
Joe Silver
Forumer storico
Fabrib
Forumer storico
Se richiamassero questa e BA dovremmo organizzare un funerale laico "in loving memory".Ho l'impressione che andrà avanti ancora per un bel po' (sperem)
sparviero7000
Forumer storico
Ho l'impressione che andrà avanti ancora per un bel po' (sperem)
io le ho già da un bel po', d'altra parte le pref post call non mancano
NoWay
It's time to play the game
City Office REIT, Inc. — Preferred Stock Offering
Company: City Office REIT, Inc.
Date announced: 9/27/2016
Shares Offered: 4,000,000
Date of Pricing: 9/27/2016
Price Per Share: $25.00
Preferred Stock Offering Details: City Office REIT, Inc. (NYSE: CIO) (the "Company") announced today the pricing of its upsized underwritten public offering of 4,000,000 shares of its 6.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for gross proceeds of $100,000,000 before deducting underwriting discounts and commissions and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Series A Preferred Stock to cover overallotments, if any. The Company intends to apply to list the Series A Preferred Stock on the NYSE under the symbol "CIO PRA." The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.
City Office REIT is engaged in acquiring, owning and operating office properties located primarily within its specified target markets in the U.S. Co. has 12 primary target markets, which are located in metropolitan areas in the Southern and Western U.S. As of Dec 31 2015, Co. owned 14 office complexes comprised of 28 office buildings in the metropolitan areas of Boise, ID; Denver, CO; Portland, OR; Tampa, FL; Allentown, PA; Dallas, TX and Orlando, FL. Co.'s operations are carried on primarily through City Office REIT Operating Partnership, L.P. (the Operating Partnership) and wholly owned subsidiaries of the Operating Partnership.
Company: City Office REIT, Inc.
Date announced: 9/27/2016
Shares Offered: 4,000,000
Date of Pricing: 9/27/2016
Price Per Share: $25.00
Preferred Stock Offering Details: City Office REIT, Inc. (NYSE: CIO) (the "Company") announced today the pricing of its upsized underwritten public offering of 4,000,000 shares of its 6.625% Series A Cumulative Redeemable Preferred Stock, liquidation preference of $25.00 per share, for gross proceeds of $100,000,000 before deducting underwriting discounts and commissions and estimated offering expenses. The Company has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of Series A Preferred Stock to cover overallotments, if any. The Company intends to apply to list the Series A Preferred Stock on the NYSE under the symbol "CIO PRA." The offering is expected to close on or about October 4, 2016, subject to customary closing conditions.
City Office REIT is engaged in acquiring, owning and operating office properties located primarily within its specified target markets in the U.S. Co. has 12 primary target markets, which are located in metropolitan areas in the Southern and Western U.S. As of Dec 31 2015, Co. owned 14 office complexes comprised of 28 office buildings in the metropolitan areas of Boise, ID; Denver, CO; Portland, OR; Tampa, FL; Allentown, PA; Dallas, TX and Orlando, FL. Co.'s operations are carried on primarily through City Office REIT Operating Partnership, L.P. (the Operating Partnership) and wholly owned subsidiaries of the Operating Partnership.
Fabrib
Forumer storico
Deutsche Bank's U.S.-listed shares DB, -7.52% tumbled Thursday after a news report said some hedge funds that clear derivatives through the Frankfurt-based firm had withdrawn some excess cash and positions. While the vast majority of the bank's more than 200 derivatives-clearing clients have made no changes, around 10 hedge funds moved a portion of their listed derivatives holdings to other firms this week, Bloomberg reported, citing an internal document. A Deutsche Bank spokesman told Bloomberg that the lender is confident that a "vast majority" of its clients "have a full understanding of our stable financial position, the current macroeconomic environment, the litigation process in the U.S. and the progress we are making with our strategy." Deutsche Bank shares were down 5.7% in New York. Shares of the lender have dropped more than 50% this year amid concerns over the lender's thin capital cushion.
pv78
Forumer attivo
Personalmente ho una posizione,ovviamente in perdita,sulle DB preferred in dollari,e sono pronto ad incrementare.Con la convinzione che, nell' infima possibilità che DB andasse gambe all' aria,e con gambe all' aria intendo salto cedole e/o bail-in,qualsiasi strumento finanziario,financo preferred ed azioni di emittenti che nulla c' entrano,subirebbero gravissimi contraccolpi.A questo punto,meglio scegliere un rischio altamente remunerativo....
Questa è la mia modesta opinione....
Cordiali saluti
Fabrib
Forumer storico
C'è già qualcuno che la pensa come te.
Deutsche Bank: Everyone Take A Deep Breath
Sep. 30, 2016 2:41 AM ET
|
4 comments
|
About: Deutsche Bank AG (DB)
FIG Ideas
Follow(128 followers)
Long-term horizon, medium-term horizon, long/short equity, long only
Send Message
Summary
Opinions are swirling about Deutsche Bank.
There is no question the German government would ultimately support Deutsche.
It is for hyper rational investors only, but I would start buying small: in it to win it.
Jeffrey Gundlach was quoted yesterday as saying, "The market is going to push down Deutsche Bank until there is some recognition of support".
It certainly feels this way. The latest leg down in DBK was triggered by the rumour that Angela Merkel had ruled out supporting the bank.
There is something very plausible about this line of thinking. Banks are under pressure: we have Wells Fargo explaining itself on Capitol Hill, Credit Suisse CEO Tidjane Thiam describing the European sector as "uninvestable" and Deutsche Bank (NYSE:DB) exploring new lows daily.
Nothing so far has suggested that if - and it remains a very big if - Deutsche Bank needed German state support, such support would be withheld. If the collapse of Lehman Brothers did anything for the world economy, it was to show the impact of letting a major, interconnected bank fall. John Mack's reaction when this question was raised in February, another time Deutsche was under intense pressure, is instructive: "It's the GERMAN bank...." (emphasis and upper case added).
Chancellor Merkel, in saying no rescue is planned, was simply observing the hierarchy carried in EU rules on aid to private sector companies. First, the company has to be in a state of collapse, and Deutsche is not. Second, after equity holders are wiped out, holders of subordinated, equity linked debt must be bailed in. If then the company still needs assistance, state aid can be applied. To my mind, imagining that the German government would not then assist Deutsche Bank is unrealistic.
Yes, some hedge funds limited their risk exposure to Deutsche yesterday. There may well be a few more. After all, hedge funds often act in a herd like fashion. I thought the most interesting item in this piece of news flow was Deutsche Bank's response, and I would urge investors to consider it:
"Our trading clients are amongst the world's most sophisticated investors," Deutsche Bank said in an emailed statement to CNBC. "We are confident that the vast majority of them have a full understanding of our stable financial position, the current macro-economic environment, the litigation process in the U.S. and the progress we are making with our strategy."
Critical to the appreciation of this "financial position" is Deutsche's liquidity. Deutsche has over €40bn of liquidity above its short term wholesale funding commitment, and the total commitment is over €200bn. Backing everything up in Europe is TLTRO II. This means that counterparties will keep taking DBK's name.
The Deutsche statement mentions the "litigation process in the US" as something that is believes clients understand. And investors should too. The one fundamental threat to DBK here is that the DoJ has presented it with a demand for $14bn in settlement of the RMBS sales issue. First, The DOJ made a similarly sized demand of Goldman Sachs over RMBS and ended up settling for much less. Second, it would seem unrealistic that the DoJ is unaware that this demand, if met, would push DBK below its capital adequacy thresholds. And it therefore, to me at least, seems unrealistic that the DoJ would pursue the full claim. This is an opening gambit, and no more. And until the settlement is reached, DBK has the capital.
If I were ING, I might be politely asking if Deutsche would like to sell me an asset management company, but I'm not, and Deutsche wouldn't.
My own disposition is to start buying small. I don't think Deutsche will fail, I do think it will settle with the DoJ for an amount that leaves its capital ratios intact, though it will probably be close. But I think it has a steady revenue base and this is a great position to start restructuring a chronically inefficient cost base from. You have to be in it to win it.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Deutsche Bank: Everyone Take A Deep Breath
Sep. 30, 2016 2:41 AM ET
|
4 comments
|
About: Deutsche Bank AG (DB)
FIG Ideas
Follow(128 followers)
Long-term horizon, medium-term horizon, long/short equity, long only
Send Message
Summary
Opinions are swirling about Deutsche Bank.
There is no question the German government would ultimately support Deutsche.
It is for hyper rational investors only, but I would start buying small: in it to win it.
Jeffrey Gundlach was quoted yesterday as saying, "The market is going to push down Deutsche Bank until there is some recognition of support".
It certainly feels this way. The latest leg down in DBK was triggered by the rumour that Angela Merkel had ruled out supporting the bank.
There is something very plausible about this line of thinking. Banks are under pressure: we have Wells Fargo explaining itself on Capitol Hill, Credit Suisse CEO Tidjane Thiam describing the European sector as "uninvestable" and Deutsche Bank (NYSE:DB) exploring new lows daily.
Nothing so far has suggested that if - and it remains a very big if - Deutsche Bank needed German state support, such support would be withheld. If the collapse of Lehman Brothers did anything for the world economy, it was to show the impact of letting a major, interconnected bank fall. John Mack's reaction when this question was raised in February, another time Deutsche was under intense pressure, is instructive: "It's the GERMAN bank...." (emphasis and upper case added).
Chancellor Merkel, in saying no rescue is planned, was simply observing the hierarchy carried in EU rules on aid to private sector companies. First, the company has to be in a state of collapse, and Deutsche is not. Second, after equity holders are wiped out, holders of subordinated, equity linked debt must be bailed in. If then the company still needs assistance, state aid can be applied. To my mind, imagining that the German government would not then assist Deutsche Bank is unrealistic.
Yes, some hedge funds limited their risk exposure to Deutsche yesterday. There may well be a few more. After all, hedge funds often act in a herd like fashion. I thought the most interesting item in this piece of news flow was Deutsche Bank's response, and I would urge investors to consider it:
"Our trading clients are amongst the world's most sophisticated investors," Deutsche Bank said in an emailed statement to CNBC. "We are confident that the vast majority of them have a full understanding of our stable financial position, the current macro-economic environment, the litigation process in the U.S. and the progress we are making with our strategy."
Critical to the appreciation of this "financial position" is Deutsche's liquidity. Deutsche has over €40bn of liquidity above its short term wholesale funding commitment, and the total commitment is over €200bn. Backing everything up in Europe is TLTRO II. This means that counterparties will keep taking DBK's name.
The Deutsche statement mentions the "litigation process in the US" as something that is believes clients understand. And investors should too. The one fundamental threat to DBK here is that the DoJ has presented it with a demand for $14bn in settlement of the RMBS sales issue. First, The DOJ made a similarly sized demand of Goldman Sachs over RMBS and ended up settling for much less. Second, it would seem unrealistic that the DoJ is unaware that this demand, if met, would push DBK below its capital adequacy thresholds. And it therefore, to me at least, seems unrealistic that the DoJ would pursue the full claim. This is an opening gambit, and no more. And until the settlement is reached, DBK has the capital.
If I were ING, I might be politely asking if Deutsche would like to sell me an asset management company, but I'm not, and Deutsche wouldn't.
My own disposition is to start buying small. I don't think Deutsche will fail, I do think it will settle with the DoJ for an amount that leaves its capital ratios intact, though it will probably be close. But I think it has a steady revenue base and this is a great position to start restructuring a chronically inefficient cost base from. You have to be in it to win it.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
