Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (3 lettori)
- Creatore Discussione negusneg
- Data di Inizio
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- Tags
- 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
- Stato
claudioborghi
Twitter: @borghi_claudio
Grazie a tutti! Mo' ci penso un po' su.
( anche se alla fine mi sa che prenderò le solite postbank
per motivi di mix fra prezzo e affidabilità / rischio sistemico del' emittente )
( anche se alla fine mi sa che prenderò le solite postbank
per motivi di mix fra prezzo e affidabilità / rischio sistemico del' emittente )
DinoP
life is good
tksè questa la goldman
Zorba
Bos 4 Mod
Grazie a tutti! Mo' ci penso un po' su.
( anche se alla fine mi sa che prenderò le solite postbank
Davvero?
Gallo Cedrone
Forumer storico
Ciao,
niente da fare con fineco!
Anche a me hanno respinto la richiesta di acquisto per la RZB 862!
samantaao
Forumer storico
XS0270347304
il prospetto si trova nel 3d prospetti-informativi-otc-perpetuals
è una LT2 giusto?
•
Subordination: The subordinated notes will be junior in right of payment to all of our senior
indebtedness. This means, among other things, that we will not be permitted to pay interest,
principal or any other amount on the subordinated notes (including upon redemption) if a default
under our senior indebtedness has occurred and is continuing, until all the amounts owing on our
senior indebtedness have been paid in full. As of August 25, 2006, we had outstanding, including
accrued interest, approximately $176 billion of senior indebtedness. Our subordinated debt
indenture does not limit the amount of additional senior indebtedness we may incur. For a
description of our senior indebtedness and the restrictions on our ability to make payments on the
subordinated notes, see “Description of Debt Securities We May Offer— Subordination Provisions”
in the Base Prospectus.
We have issued other series of subordinated debt securities in the past and may do so in the future.
Those other series are not subordinated in right of payment to the subordinated notes.
•
principal or any other amount on the subordinated notes (including upon redemption) if a default
under our senior indebtedness has occurred and is continuing, until all the amounts owing on our
senior indebtedness have been paid in full. As of August 25, 2006, we had outstanding, including
accrued interest, approximately $176 billion of senior indebtedness. Our subordinated debt
indenture does not limit the amount of additional senior indebtedness we may incur. For a
description of our senior indebtedness and the restrictions on our ability to make payments on the
subordinated notes, see “Description of Debt Securities We May Offer— Subordination Provisions”
in the Base Prospectus.
We have issued other series of subordinated debt securities in the past and may do so in the future.
Those other series are not subordinated in right of payment to the subordinated notes.
•
Limited Events of Default; No Acceleration: The events of default under the subordinated notes
will be limited to our filing for bankruptcy or the occurrence of other events of bankruptcy, insolvency
or reorganization relating to The Goldman Sachs Group, Inc. The payment of principal of the
subordinated notes may be accelerated only in certain events involving our bankruptcy, insolvency
or reorganization (but not the bankruptcy, insolvency or reorganization of any of our subsidiaries)
under Chapters 7 (liquidation) and 11 (reorganization) of the U.S. Bankruptcy Code. There will be
no right of acceleration of the payment of principal of the subordinated notes upon a default in the
payment of principal, interest or any other amount (including upon redemption) on the subordinated
notes or in the performance of any of our covenants or agreements contained in the subordinated
notes or in our subordinated debt indenture. No such payment or performance default will result in
an event of default under the subordinated notes or permit any holders or the trustee to take action
to enforce the subordinated notes or the subordinated debt indenture, except that a holder will be
entitled at any time to bring a lawsuit for the payment of money due on the subordinated notes of
such holder. The foregoing supersedes the information in “Description of Debt Securities We May Offer —Default, Remedies and Waiver of Default” in the Base Prospectus.
or reorganization relating to The Goldman Sachs Group, Inc. The payment of principal of the
subordinated notes may be accelerated only in certain events involving our bankruptcy, insolvency
or reorganization (but not the bankruptcy, insolvency or reorganization of any of our subsidiaries)
under Chapters 7 (liquidation) and 11 (reorganization) of the U.S. Bankruptcy Code. There will be
no right of acceleration of the payment of principal of the subordinated notes upon a default in the
payment of principal, interest or any other amount (including upon redemption) on the subordinated
notes or in the performance of any of our covenants or agreements contained in the subordinated
notes or in our subordinated debt indenture. No such payment or performance default will result in
an event of default under the subordinated notes or permit any holders or the trustee to take action
to enforce the subordinated notes or the subordinated debt indenture, except that a holder will be
entitled at any time to bring a lawsuit for the payment of money due on the subordinated notes of
such holder. The foregoing supersedes the information in “Description of Debt Securities We May Offer —Default, Remedies and Waiver of Default” in the Base Prospectus.
no perpetual no party
Forumer storico
dal comunicato stampa scaricato dal forum ho trovato questo trafiletto molto interessante:
"
On 30 June 2010, the European Commission approved the subscription of participation capital by the Republic of Austria. This approval included certain conditions and compensatory measures that the Bank has to fulfill in the upcoming years.
These compensatory measures include:
[FONT=Wingdings,Wingdings][FONT=Wingdings,Wingdings]
[/FONT][/FONT]Sale of Stiefelkönig and minority stakes in MKB Bank
[FONT=Wingdings,Wingdings][FONT=Wingdings,Wingdings]
[/FONT][/FONT]Early redemption of own bonds issued by the former P.S.K. (guaranteed by the Republic of Austria)
[FONT=Wingdings,Wingdings][FONT=Wingdings,Wingdings]
[/FONT][/FONT]Acquisition restrictions (but no impact on mid-term planning of BAWAG P.S.K.)
[FONT=Wingdings,Wingdings][FONT=Wingdings,Wingdings]
[/FONT][/FONT]Temporary ban of dividend payments to its shareholders in 2010 and 2011.
[FONT=Wingdings,Wingdings][FONT=Wingdings,Wingdings]
[/FONT][/FONT]Limitations of internationals investments in line with our business plan
"
le due parti più interessanti sono la sospensione dei dividendi agli azionisti nel 2010-2011 e il rimborso anticipato dei bond garantiti dalla repubblica austriaca... tutto questo impatterà sui perpetui emessi da Bawag ?
Dalle discussioni delle settimane precedenti mi ricordo che i prospetti di Bawag parlano di utili distribuibili per far scattare il pagamento.
Sarebbe molto interessante capire se i bond che rimborseranno anticipatamente saranno i t-bond austriaci, dopo di quelli tocca al perpetuo finale 897....
cosa ne pensate ?
...stavo facendo una ricerca su bawag e mi sono imbattuto in questa segnalazione/riflessione di fidw99... è molto interessante, ma non mi sembra poi siano state date risposte.. è un titolo che solo adesso sto seguendo, per cui se dico castronerie correggetemi!
se non ricordo male la sospensione dei dividendi non comporta il salto delle cedole sia sul 966 che sul 897, perche se ci riserve distribuibili devono pagare anche senza dividendo.. e, importante, no loss absorption (in ottica basilea3)
sul fatto poi che scatti il rimborso dei tier1, forse potrebbe avvenire emettendone uno nuovo con le nuove clausole basilea3 che andrebbe a richiamare i due esistenti... ma non penso a breve, almeno finche l'euribor/irs/tassi ecc.. rimangono cosi bassi.. un tier1 di bawag emesso ora dovrebbe avere minimo un 10-12 di cedola annua no?
Ultima modifica:
bia06
Listen other's viewpoint avoid conflicts & wars.
RZB 040 ottima attorno ai 50 o ERSTE 741
Ciao,
RZB 040 ottima attorno ai 50 o ERSTE 741 (intorno ai 50-51 anche lei).
N75 è + cara, l'ho scartata.
Buon weekend.
Ciao,
RZB 040 ottima attorno ai 50 o ERSTE 741 (intorno ai 50-51 anche lei).
N75 è + cara, l'ho scartata.
Buon weekend.
- Stato