Obbligazioni societarie Monitor bond Utilities Europa I (gennaio - luglio 2009) (2 lettori)

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Alobar

So di non sapere...
Tabelle e grafici monitoraggio rendimenti
Le tabelle: parte prima....

1231432631utilitibond2.gif
 

luke75

Nuovo forumer
08.01.09 15:40 - GdF Suez: prezza bond da 1 mld euro
LONDRA (MF-DJ)--GdF Suez ha prezzato il suo bond da 1 miliardo di euro.
L'emissione obbligazionaria scade nel 2021, cedola al 6,375% ed e' stata prezzata a 99.646. Lead manager dell'operazione sono stati nominati Calyon, Hsbc, Merrill Lynch e Santander. Lo spread e' di 255 punti base sopra il mid-swap. fra
(END) Dow Jones Newswires

un titolo scad 2023 gia' presente sul secondario offre rendimento di circa 5,05%, la differenza è di 1,3%, notevole ma molto in diminuzione rispetto ai bond emessi x gli istituzionali da finmeccanica, metro ....alcune settimane fa
 
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lorenzo63

Age quod Agis
E' tempo di spese per RWE...

German utility RWE AG is the front-runner to win the auction of Dutch utility Essent NV, which could fetch as much as €10 billion, or about $14 billion, according to people familiar with the matter.
The board of Essent, based in Arnhem, the Netherlands, is likely to agree next week to a deal with RWE, the people said. Closely held Essent is the Netherlands' biggest utility, with 2007 revenue of €7.4 billion.
The deal would be the first large-scale acquisition announced in Europe this year. It would show that for companies in relatively stable industries, like utilities and pharmaceuticals, the financial crisis hasn't sapped the ability to make acquisitions, and in some cases, could present opportunities.
Other possible suitors for Essent include Eni SpA of Italy, but RWE, Germany's largest power producer by capacity, is "a better fit," a person familiar with the matter said. Germany borders the Netherlands, enabling the companies to combine operations more easily.
RWE, based in Essen, has signaled its desire to expand abroad and make acquisitions. "We're determined to benefit from the crisis," executive board member Leonhard Birnbaum told reporters in December. He said RWE plans to invest more than €30 billion through 2012, mainly outside Germany.
Roughly 74% of Essent's shares are owned by six Dutch provinces. The rest are owned by a collection of nearly 140 Dutch municipalities.
Essent said in June that it would look for a buyer of its commercial operations, which consist of its power plants and trading operations. Essent's grid operation, mainly of gas and power lines, isn't up for sale.
The company said in June that it needed a partner so it could get bigger and offer its customers better prices. Its effort to merge with Dutch rival Nuon fell apart in 2007.
RWE largely stuck to the sidelines as European consolidation heated up. But that caution, combined with a string of sales of noncore businesses, such as in water and printing,means RWE has little debt and plenty of cash.
 

Imark

Forumer storico
German utility RWE AG is the front-runner to win the auction of Dutch utility Essent NV, which could fetch as much as €10 billion, or about $14 billion, according to people familiar with the matter.
The board of Essent, based in Arnhem, the Netherlands, is likely to agree next week to a deal with RWE, the people said. Closely held Essent is the Netherlands' biggest utility, with 2007 revenue of €7.4 billion.
The deal would be the first large-scale acquisition announced in Europe this year. It would show that for companies in relatively stable industries, like utilities and pharmaceuticals, the financial crisis hasn't sapped the ability to make acquisitions, and in some cases, could present opportunities.
Other possible suitors for Essent include Eni SpA of Italy, but RWE, Germany's largest power producer by capacity, is "a better fit," a person familiar with the matter said. Germany borders the Netherlands, enabling the companies to combine operations more easily.
RWE, based in Essen, has signaled its desire to expand abroad and make acquisitions. "We're determined to benefit from the crisis," executive board member Leonhard Birnbaum told reporters in December. He said RWE plans to invest more than €30 billion through 2012, mainly outside Germany.
Roughly 74% of Essent's shares are owned by six Dutch provinces. The rest are owned by a collection of nearly 140 Dutch municipalities.
Essent said in June that it would look for a buyer of its commercial operations, which consist of its power plants and trading operations. Essent's grid operation, mainly of gas and power lines, isn't up for sale.
The company said in June that it needed a partner so it could get bigger and offer its customers better prices. Its effort to merge with Dutch rival Nuon fell apart in 2007.
RWE largely stuck to the sidelines as European consolidation heated up. But that caution, combined with a string of sales of noncore businesses, such as in water and printing,means RWE has little debt and plenty of cash.

Devo dire che ad oggi i bond non ne hanno risentito... se facciamo un raffronto sull'Euromercato fra i corsi dei bond delle utilities tedesche (società senz'altro di solidità a prova di bomba quali E.On e RWE) e quelli di bond di società come le francesi GDF Suez e EDF, peraltro a controllo o a forte partecipazione statale, si arriva alla conclusione che o i primi davvero non convengono oppure i secondi sono a sconto...

A grana grossa, e guardando ai rendimenti lordi su E.On 2012 ed RWE 2012 (con scadenze ravvicinatissime)

http://anleihen.onvista.de/snapshot.html?ID_INSTRUMENT=18020076&SEARCH_VALUE=XS0322976415

http://anleihen.onvista.de/snapshot.html?ID_INSTRUMENT=6633570&SEARCH_VALUE=XS0147030554

e dall'altro lato un GDF Suez 2012 che pure scade da quelle parti...

http://anleihen.onvista.de/snapshot.html?ID_INSTRUMENT=7628205&SEARCH_VALUE=FR0000471054

Io francamente non vedo nessuna ragione, ma proprio nessuna, per comprare uno dei primi due piuttosto che il terzo... :cool:
 
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