Obbligazioni societarie Obbligazioni MPS - Monte dei Paschi di Siena
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SPERANZOSA
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MPS TV SUB call 2015 XS0176510641: cosa ne pensate ?
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XS0176510641 MONTE PASCHI TV SUB CALL 24/9/15
al prezzo di 100,55 , se dovesse esercitare la call rende un 3,96 lordo in un anno circa...
Tankiu'
Vi piace questo titolo?
XS0176510641 MONTE PASCHI TV SUB CALL 24/9/15
al prezzo di 100,55 , se dovesse esercitare la call rende un 3,96 lordo in un anno circa...
Tankiu'
ginestra
Forumer attivo
Vi piace questo titolo?
XS0176510641 MONTE PASCHI TV SUB CALL 24/9/15
al prezzo di 100,55 , se dovesse esercitare la call rende un 3,96 lordo in un anno circa...
Tankiu'
4% per un subordinato bancario ?
SPERANZOSA
Nuovo forumer
Hai qualche alternativa ad 1 anno che offra questi rendimenti da consigliarmi, tralasciando i junk bond?4% per un subordinato bancario ?
SPERANZOSA
Nuovo forumer
...non esistono solo i bond bancariPerché, in un periodo così ci sono bond bancari non junk?
Imark
Forumer storico
Dato che se ne parla... situazione non proprio allegra...
Fitch Affirms Banca Monte dei Paschi di Siena at 'A'; Outlook Stable
17 Aug 2009 9:29 AM (EDT)
Fitch Ratings-Milan/London-17 August 2009: Fitch Ratings has today affirmed Italy-based Banca Monte dei Paschi di Siena's (MPS) ratings at Long-term Issuer Default (IDR) 'A' with a Stable Outlook, Short-term IDR 'F1', Individual 'B/C', Support '2' and Support Rating Floor 'BBB+'.
MPS's ratings are based on its strong domestic franchise, adequate performance with potential for further improvements, and good risk management.
They also reflect its relatively weak asset quality and capitalisation following the acquisition of Banca Antonveneta (ANTV).
As a result of its acquisition of ANTV, completed in 2008, MPS has increased its presence in the wealthy north of Italy and strengthened its domestic market share to about 7%.
The bank has a particularly strong franchise in the region of Tuscany, which gives it access to a broad and stable customer funding base and a client base predominantly composed of SMEs, small businesses and retail customers.
The group's structure has been rationalised, with the previously relatively large subsidiary bank structures now centralised at the parent bank. This should allow significant cost savings, as should the swift integration of ANTV, which was merged into MPS at end-2008, following which the group's distribution network in north-eastern Italy was spun-off into a new legal entity, also called Banca Antonveneta.
At end-March 2009, MPS's gross impaired loans were equal to a high 8.25% of gross loans.
The bank's asset quality deteriorated as a result of the acquisition of ANTV, but also reflects deterioration in the domestic economy, and Fitch expects impaired loans to increase further for the rest of 2009.
Although MPS's impairment allowance coverage of impaired loans is below that of other domestic and international banks at about 47%, Fitch considers this coverage adequate given the bank's holding of collateral on impaired loans.
However, the ratings would come under pressure if underlying pre-impairment operating profit declines, asset quality deteriorates materially or if impairment allowances of impaired loans fall.
MPS's capitalisation suffered from the acquisition of ANTV, which created goodwill of about EUR6bn, resulting in a stretched Fitch-eligible capital ratio of 6.75% at end-2008.
MPS has taken measures, including the issue of planned hybrid instruments to the Italian government and the sale of non-core assets, which should improve its tier 1 ratio to just above 7% at end-2009.
Given rising impaired loans and pressure on profitability, Fitch considers this ratio only just adequate, and failure to reach its target capitalisation would likely result in a downgrade of the bank.
Founded in 1472, MPS is the world's oldest bank and the third-largest banking group in Italy. At end-March 2009, it had 3,107 branches spread throughout Italy. The group primarily serves domestic retail and SME clients and offers a full range of commercial banking products and services.
In Fitch's rating criteria, a bank's standalone risk is reflected in Fitch's Individual ratings and the prospect of external support is reflected in Fitch's Support ratings. Collectively these ratings drive Fitch's Long- and Short-term IDRs
Fitch Affirms Banca Monte dei Paschi di Siena at 'A'; Outlook Stable
17 Aug 2009 9:29 AM (EDT)
Fitch Ratings-Milan/London-17 August 2009: Fitch Ratings has today affirmed Italy-based Banca Monte dei Paschi di Siena's (MPS) ratings at Long-term Issuer Default (IDR) 'A' with a Stable Outlook, Short-term IDR 'F1', Individual 'B/C', Support '2' and Support Rating Floor 'BBB+'.
MPS's ratings are based on its strong domestic franchise, adequate performance with potential for further improvements, and good risk management.
They also reflect its relatively weak asset quality and capitalisation following the acquisition of Banca Antonveneta (ANTV).
As a result of its acquisition of ANTV, completed in 2008, MPS has increased its presence in the wealthy north of Italy and strengthened its domestic market share to about 7%.
The bank has a particularly strong franchise in the region of Tuscany, which gives it access to a broad and stable customer funding base and a client base predominantly composed of SMEs, small businesses and retail customers.
The group's structure has been rationalised, with the previously relatively large subsidiary bank structures now centralised at the parent bank. This should allow significant cost savings, as should the swift integration of ANTV, which was merged into MPS at end-2008, following which the group's distribution network in north-eastern Italy was spun-off into a new legal entity, also called Banca Antonveneta.
At end-March 2009, MPS's gross impaired loans were equal to a high 8.25% of gross loans.
The bank's asset quality deteriorated as a result of the acquisition of ANTV, but also reflects deterioration in the domestic economy, and Fitch expects impaired loans to increase further for the rest of 2009.
Although MPS's impairment allowance coverage of impaired loans is below that of other domestic and international banks at about 47%, Fitch considers this coverage adequate given the bank's holding of collateral on impaired loans.
However, the ratings would come under pressure if underlying pre-impairment operating profit declines, asset quality deteriorates materially or if impairment allowances of impaired loans fall.
MPS's capitalisation suffered from the acquisition of ANTV, which created goodwill of about EUR6bn, resulting in a stretched Fitch-eligible capital ratio of 6.75% at end-2008.
MPS has taken measures, including the issue of planned hybrid instruments to the Italian government and the sale of non-core assets, which should improve its tier 1 ratio to just above 7% at end-2009.
Given rising impaired loans and pressure on profitability, Fitch considers this ratio only just adequate, and failure to reach its target capitalisation would likely result in a downgrade of the bank.
Founded in 1472, MPS is the world's oldest bank and the third-largest banking group in Italy. At end-March 2009, it had 3,107 branches spread throughout Italy. The group primarily serves domestic retail and SME clients and offers a full range of commercial banking products and services.
In Fitch's rating criteria, a bank's standalone risk is reflected in Fitch's Individual ratings and the prospect of external support is reflected in Fitch's Support ratings. Collectively these ratings drive Fitch's Long- and Short-term IDRs
500$
Forumer attivo
Obbligazione Mps SUB. LT2 5,60% XS0540544912
Venerdì son entrato a 102 su questa obbligazione subordinata di MPS, vedendo la sorella 5% a circa 100,80, questa dovrebbe quotare almeno 105.....Per quanto riguarda mps ha appena subito un downgrade di fitch (da a A ad A-) ma la banca seppur ancora con scarsa liquidità non dovrebbe avere grossi problemi per il futuro....Spero in un apprezzamento equiparabile alle sub intesa 2020 prese a 100,12....
Cosa ne pensate?
Venerdì son entrato a 102 su questa obbligazione subordinata di MPS, vedendo la sorella 5% a circa 100,80, questa dovrebbe quotare almeno 105.....Per quanto riguarda mps ha appena subito un downgrade di fitch (da a A ad A-) ma la banca seppur ancora con scarsa liquidità non dovrebbe avere grossi problemi per il futuro....Spero in un apprezzamento equiparabile alle sub intesa 2020 prese a 100,12....
Cosa ne pensate?
Ultima modifica di un moderatore:
ilfolignate
Forumer storico
Ciao, anche io ieri sono entrato su MPS 5,60% a 101,80 e l'ho presa facendo il tuo medesimo ragionamento. Speriamo che il tempo ci dia ragione
trovatore
Nuovo forumer
entrare adesso ha ancora senso ?
ultimo prezzo ieri 103,53
avrei racimolato 50k ..
e qualche perplessità
sulla banca e sulle banche
salute
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