Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1
- Creatore Discussione negusneg
- Data di Inizio
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- additional tier 1 bail in basilea 3 coco bonds crd iv genussscheine grandfathering hybrid bond loss absorption lower tier 2 make whole amount matusalem bond obbligazioni irredimibili obbligazioni perpetue obbligazioni subordinate perpetual bond preference shares restricted tier 1 tier 1 upper tier 2
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Richard Fuld
lehman's ceo !
XS0337685324
qualcuno ha il prospetto di questa veneto banca?
qualcuno ha il prospetto di questa veneto banca?
Mais78
BAWAG fan club
E' gia vecchio...siamo a 65.25...un'altra ABN...pero' almeno questa non l'ho venduta..
negusneg
New Member
Buon giorno ragazzi, scrivo poco ma leggo molto cercando di capire.
Ho gìà acquistato qualche perpetual bancaria ed assicurativa e volendo diversificare ho trovato questa NL0000119105 (cumulativa) che è di una società olandese che opera in tutto il mondo, anche in Italia, nel settore dei media in particolare editoria per professionisti.
La domanda è: è vera diversificazione?
Ciao Scrambler, in questo caso direi proprio di sì, peccato che non conosco l'emittente. Il settore mi pare abbastanza in difficoltà, meglio che cerchi qualche informazione prima (sulla salute dell'emittente e sulle clausole dell'emissione).
PeterPan^
Nuovo forumer
bawag DE0008600966
Percio’ non paga dividend sulle azioni, ma che fara’ sulle Preferenc Share, come la bawag isin DE0008600966 (BAWA.AS)?
Ho provato a leggere il prospetto informative che recita:
BAWAG will not be obliged to make any payment in respect of
dividends under the Support Agreement in any calendar year:
(a) to the extent that such payment, together with the amount of:
(i) any dividends (including any Additional Amounts, as defined in ``Description of the Preference Shares'', in respect thereof) previously paid by the Issuer in respect of the Preference Shares in the then current fiscal year; (ii) any dividends previously paid on, or payments made to holders in respect of, Dividend Parity Securities (as defined in ``Description of the Preference Shares'') in the then current fiscal year; and
(iii) any dividends proposed to be paid on, or payments proposed to be made to holders in respect of, Dividend Parity Securities in the then current calendar quarter, would exceed ``Distributable Funds'' (as defined in ``Description of the Preference Shares'') in relation to BAWAG for the prior fiscal year; or (b) even if Distributable Funds are sufficient, to the extent that, in accordance with applicable Austrian banking regulations affecting banks which fail to meet their capital ratios on a consolidated basis, BAWAG would be limited in making payments on preferred or preference shares issued by it ranking pari passu as to participation in profits with BAWAG's obligations under the Support Agreement.
``Distributable Funds'' means, in respect of each fiscal year of BAWAG, the aggregate amount, as calculated as of the end of the immediately preceding fiscal year in the individual financial statements of BAWAG, of accumulated retained earnings and any other reserves and surpluses capable under Austrian law of being available for distribution as cash dividends to holders of Bank Share Capital, but before deduction of the amount of any dividend or other distribution declared on Bank Share Capital in respect of such prior fiscal year;
Io, nella mia scarsa competenza, deduco che, essendoci un profit, ci dovrebbe essere distribuitable funds, e dovrebbe pagare....
Potrebbe qualcuno dei "grandi saggi"
del forum darmi qualche chiarimeto su questa cosa? 
Grazie tanto anticipato
PS. Grande Negus, visto che sei da queste parti, magari potresti darci qualche piccolo chiarimento sui basic delle Preference Share
Grazie ancora
Percio’ non paga dividend sulle azioni, ma che fara’ sulle Preferenc Share, come la bawag isin DE0008600966 (BAWA.AS)?
Ho provato a leggere il prospetto informative che recita:
BAWAG will not be obliged to make any payment in respect of
dividends under the Support Agreement in any calendar year:
(a) to the extent that such payment, together with the amount of:
(i) any dividends (including any Additional Amounts, as defined in ``Description of the Preference Shares'', in respect thereof) previously paid by the Issuer in respect of the Preference Shares in the then current fiscal year; (ii) any dividends previously paid on, or payments made to holders in respect of, Dividend Parity Securities (as defined in ``Description of the Preference Shares'') in the then current fiscal year; and
(iii) any dividends proposed to be paid on, or payments proposed to be made to holders in respect of, Dividend Parity Securities in the then current calendar quarter, would exceed ``Distributable Funds'' (as defined in ``Description of the Preference Shares'') in relation to BAWAG for the prior fiscal year; or (b) even if Distributable Funds are sufficient, to the extent that, in accordance with applicable Austrian banking regulations affecting banks which fail to meet their capital ratios on a consolidated basis, BAWAG would be limited in making payments on preferred or preference shares issued by it ranking pari passu as to participation in profits with BAWAG's obligations under the Support Agreement.
``Distributable Funds'' means, in respect of each fiscal year of BAWAG, the aggregate amount, as calculated as of the end of the immediately preceding fiscal year in the individual financial statements of BAWAG, of accumulated retained earnings and any other reserves and surpluses capable under Austrian law of being available for distribution as cash dividends to holders of Bank Share Capital, but before deduction of the amount of any dividend or other distribution declared on Bank Share Capital in respect of such prior fiscal year;
Io, nella mia scarsa competenza, deduco che, essendoci un profit, ci dovrebbe essere distribuitable funds, e dovrebbe pagare....
Potrebbe qualcuno dei "grandi saggi"
del forum darmi qualche chiarimeto su questa cosa? Grazie tanto anticipato
PS. Grande Negus, visto che sei da queste parti, magari potresti darci qualche piccolo chiarimento sui basic delle Preference Share
Grazie ancora
bosmeld
Forumer storico
negusneg
New Member
Ausschüttungen auf Hybrid- und Genussrechtskapital
Die Deutsche Postbank AG beabsichtigt, die an den Bilanzgewinn im Einzelabschluss der Deutsche Postbank AG (HGB-Abschluss) geknüpften Hybrid- und Genussrechtskapitalinstrumente für das Geschäftsjahr 2009 zu bedienen. Der Jahresabschluss 2009 der Deutsche Postbank AG weist einen Bilanzgewinn von Null aus. Somit beabsichtigt die Bank - wie im Vorjahr - eine Ausschüttung auf den weit überwiegenden Teil ihres Hybrid- und Genussrechtskapitals vorzunehmen.
Für ein geringes Volumen von Instrumenten, bei denen die Ausschüttungsvoraussetzungen an den Jahresüberschuss geknüpft sind, entfällt aufgrund des entstandenen Jahresfehlbetrags im Einzelabschluss der Deutschen Postbank AG die Ausschüttung für das Geschäftsjahr 2009.
Stavo leggendo Bondboard su DPB:
i ns. colleghi tedeschi non erano affatto così sicuri che DPB pagasse le cedole sulle ibride e i loro certificati di partecipazione silente, fino ad oggi.
Ed ecco in inglese che ufficilmente pagano le cedole:
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Sie sind hier:
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#transbg{ position: absolute; top: 130px; width: 508px; height: 165px; }Distribution on our hybrid capital instruments outstanding and profit participation certificates outstanding
For fiscal year 2009 Deutsche Postbank AG intends a distribution on its hybrid capital instruments outstanding and profit participation certificates outstanding. The distribution is linked to the net profit in the financial statements prepared in accordance with the German Commercial Code (HGB-Abschluss). The 2009 annual financial statements for Deutsche Postbank AG registered a net profit of zero. For that reason the bank intends as in previous year a distribution on the vast majority of its hybrid capital instruments outstanding and profit participation certificates outstanding. This especially relates to the following listed instruments:
Deutsche Postbank Funding Trust I, ISIN: DE000A0DEN75, WKN: A0DEN7
Deutsche Postbank Funding Trust II, ISIN: DE000A0DHUM0, WKN: A0DHUM
Deutsche Postbank Funding Trust III, ISIN: DE000A0D24Z1, WKN: A0D24Z
Deutsche Postbank Funding Trust IV, ISIN: XS0307741917, WKN: A0NYWV
Prosecure Funding Limited Partnership, ISIN: XS0249466730, WKN: A0GQE7
For a small number of instruments, whose distribution is linked to the net profit in the financial statements prepared in accordance with the German Commercial Code (HGB-Abschluss) (alternative: in German GAAP accounting), the distribution for fiscal year 2009 will be omitted, as a net loss has occurred.
Ottime notizie finalmente
, e con queste ormai il peggio è alle spalle. 
Ora non vedo perchè non debba tornare verso 65-70...
negusneg
New Member
Percio’ non paga dividend sulle azioni, ma che fara’ sulle Preferenc Share, come la bawag isin DE0008600966 (BAWA.AS)?
Ho provato a leggere il prospetto informative che recita:
BAWAG will not be obliged to make any payment in respect of
dividends under the Support Agreement in any calendar year:
(a) to the extent that such payment, together with the amount of:
(i) any dividends (including any Additional Amounts, as defined in ``Description of the Preference Shares'', in respect thereof) previously paid by the Issuer in respect of the Preference Shares in the then current fiscal year; (ii) any dividends previously paid on, or payments made to holders in respect of, Dividend Parity Securities (as defined in ``Description of the Preference Shares'') in the then current fiscal year; and
(iii) any dividends proposed to be paid on, or payments proposed to be made to holders in respect of, Dividend Parity Securities in the then current calendar quarter, would exceed ``Distributable Funds'' (as defined in ``Description of the Preference Shares'') in relation to BAWAG for the prior fiscal year; or (b) even if Distributable Funds are sufficient, to the extent that, in accordance with applicable Austrian banking regulations affecting banks which fail to meet their capital ratios on a consolidated basis, BAWAG would be limited in making payments on preferred or preference shares issued by it ranking pari passu as to participation in profits with BAWAG's obligations under the Support Agreement.
``Distributable Funds'' means, in respect of each fiscal year of BAWAG, the aggregate amount, as calculated as of the end of the immediately preceding fiscal year in the individual financial statements of BAWAG, of accumulated retained earnings and any other reserves and surpluses capable under Austrian law of being available for distribution as cash dividends to holders of Bank Share Capital, but before deduction of the amount of any dividend or other distribution declared on Bank Share Capital in respect of such prior fiscal year;
Io, nella mia scarsa competenza, deduco che, essendoci un profit, ci dovrebbe essere distribuitable funds, e dovrebbe pagare....
Potrebbe qualcuno dei "grandi saggi"
Grazie tanto anticipato
PS. Grande Negus, visto che sei da queste parti, magari potresti darci qualche piccolo chiarimento sui basic delle Preference Share
Grazie ancora
Ciao PeterPan^, come recita il punto b) del prospetto anche se ci sono "distributable funds" (che sono la somma dei profitti netti e delle riserve accumulate negli anni precedenti) la banca può non essere nelle condizioni di pagare se questo provoca il mancato rispetto dei ratios patrimoniali su base consolidata.
Meglio controllare prima qual'è il livello di Tier1 e di core Tier1.
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