Ciao ragazzi!
sono mancato per un po' dopo la "scottatura" del hbos XS0353590366 nel quale sono rimasto incastrato:non riuscito a vendere e non possibile scambiarlo con ECN nr. 19 XS0459088877);
INNANZITUTTO un ringraziamento particolare a varoon, bosmeld , mais e marketa che ricordo mi cercato di aiutare "nel momento del bisogno"( ovvero quando stavo cercando di vendere il titolo).
Posto qui un documento vecchio_23.11.2009_ che specifica l'esatto ammontare dello "scambio" avvenuto con successo dei titoli lloyds ecc.
Domanda:
il titolo che ho io hbos XS0353590366 su 750 mln di sterline totali e' stato convertito per 736 mln e quindi l'emissione ora e' di soli 13.8 mln di sterline.
Ci sono possibilita' che paghino le cedole?
anche vista la piccola quantita' o come detto:
Citazione:
Originalmente inviato da
varoon
State aid: Commission decisions on KBC, ING and Lloyds – frequently asked questions
(see also IP/09/1728 , IP/09/1729 and IP/09/1730 )
What is the Commission’s policy toward paying coupons or calling tier1 and tier 2 instruments. Are the present decisions building on the Commission's established policy in that respect?
The Commission, in MEMO/09/441 of 8 October 2009, recalled the rules concerning Tier 1 and Tier 2 capital transactions for banks subject to a restructuring aid investigation, thereby reminding banks that in a restructuring context, measures which reduce the total amount of own funds are in principle not compatible with the objective of "burden sharing" and the "aid to the minimum necessary" requirement. The Commission further stated that it could accept these transactions on the basis of a case by case assessment, after balancing the above mentioned principles of burden sharing and limiting aid to the minimum against the contribution of the transaction to the refinancing capability and return to viability of the institution.
Such a case by case assessment is now confirmed in the three decisions on Lloyds, KBC and ING:
In the Lloyds case, the Commission received a commitment from the bank not to pay investors any coupon on Tier 1 and Tier 2 instruments or exercise any call option rights in relation to those instruments between 31 January 2010 and 31 January 2012, unless there is a legal obligation to do so. Such restriction also applies to newly issued instruments offered in exchange for existing instruments. There is however a specific exception for certain hybrid instruments to be issued in the context of the global recapitalisation package of Lloyds. This exception is justified due to the presence of a mandatory conversion feature into ordinary shares in case of financial stress, which provides an adequate burden sharing mechanism, while supporting the return to viability of the bank. In case of doubt, the Commission will be consulted.
EUROPA - Press Releases - State aid: Commission decisions on KBC, ING and Lloyds – frequently asked questions
