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ferdo

Utente Senior
Ho notato come anche queste due gemelline Bawag e AAREAL abbiano raggiunto quotazioni interessanti intorno a 20% il nominale e'25%

Quindi sarebbero corrispondenti a una quotazione del 80% su 100% nominale con un tasso del 7,125% si va comodamente oltre il 10% o sbaglio?

Queste sono come preferred shares senza scadenza con dividendo invece di cedola vero?

la Bawag ultimamente ha scambiato intorno ai 21 solo una volta a 20,5 in una sola asta giorni fa: Onvista ti fa vedere il denaro a 20,5 perchè ven pom non ha scambiato (den 20,5 lett 21,5)
 

mavalà

Forumer storico
a proposito delle preferred shares:
qualcuno ha mai postato, od esiste da qualche parte una lista più o meno aggiornata fatta solo di preferred shares ? grazie
 

maxolone

Forumer storico
From FT



Eurozone agrees €80bn-€90bn Irish aid

By John Murray Brown in Dublin, Joshua Chaffin in Brussels and Tony Barber in London
Published: November 21 2010 19:03 | Last updated: November 21 2010 20:55

The debt crisis gripping the eurozone claimed its second victim in six months on Sunday night when European finance ministers approved a request from Ireland for a multibillion-euro emergency rescue.
The bail-out is expected to total €80bn-€90bn, according to people briefed on the discussions, but the deal may not be concluded until the end of November because the parties are still negotiating the conditions that will be attached to the aid.
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The rescue was driven by the need to assist Ireland’s debt-ravaged banks and to prevent contagion from destabilising the entire 16-nation eurozone. But it put paid to Europe’s hopes that a “shock-and-awe” €750bn backstop, arranged after a bail-out of Greece in May, would impress financial markets so much that it would never need to be used.
Speaking at a press conference in Dublin, prime minister Brian Cowen said: “The European authorities have agreed to our request. A formal process of negotiation will now commence that will lead to the provision of assistance on the basis of programme to be negotiated by the government with the European Commission and the International Monetary Fund in liaIson with the European Central Bank. I expect that agreement to be finalised shortly, within the next few weeks.”
The package would include a fiscal package on the national budget that would see increased taxes and reduced spending.
“Irish banks will become significantly smaller than they have been in the past, so that they can gradually be brought to stand on their own two feet once more.”
Mr Cowen insisted that the country’s corporation tax, a bone of contention with other Eurozone members, had not arisen as part of the negotiations.
Brian Lenihan, finance minister, said earlier on Sunday that Ireland was seeking financial support for its debt-ravaged banks which would include “a contingent fund, a standby facility of a very large sum”. It was also looking for budgetary support.
Mr Lenihan, asked about the size of any package, repeated what he had earlier said that the size would not be over €100bn and said that there was no intention that Dublin would draw on the entire sum.
The €110bn Greek rescue by eurozone governments and the International Monetary Fund was the first such emergency operation since the euro’s birth in 1999. Acute tensions in bond markets are also affecting Portugal, whose government fears succumbing to the backwash of the Greek and Irish turmoil.
Olli Rehn, the European commissioner for monetary affairs, said the Irish rescue represented “a critical step forward in the joint efforts to stabilise the Irish economy and thus safeguard financial stability in Europe”. The bail-out would address the Irish banking sector’s potential capital requirements “in a decisive manner”, Mr Rehn said.
Mr Lenihan held a teleconference call with fellow eurozone finance ministers on Sunday to discuss Dublin’s request, after the Irish cabinet had earlier met to approve the move.
An official said the precise size of the package would not be disclosed, unless eurozone ministers insisted on doing so. Further, he added that the exact scale of the package would not be known until the experts in Dublin probing the accounts of the banks had finished their work, which he suggested could take a “number of weeks”.
European officials have emphasised inherent differences in the Greek and Irish crises, with the problems in Athens centred on fiscal irresponsibility, unreliable statistics and public sector corruption rather than the recklessness of the banking sector as in Ireland.

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Yet as Ireland wobbled last week, EU officials were mindful of the slow and fractious response to Greece’s slide before a bail-out was finally cobbled together in early May. Analysts and diplomats broadly agree that the delay further unsettled markets and drove up the cost of the eventual rescue.
“The big difference with the previous crisis is that we are fully equipped,” said Christine Lagarde, France’s finance minister.
Klaus Regling, who oversees the €440bn ($604bn) European Financial Stabilisation Facility, a fund backed by the 16 eurozone members, assured reporters he could mobilise sizeable amounts of money within five to eight days of any request.
Mr Lenihan said the loan “certainly will not be a three-figure sum”, describing the support it would bring as a “powerful demonstration of the firepower behind the banks”.
He said Ireland’s economy was too small to cope with the banking crisis unaided. “The banks were too big a problem for the country, I accept that.” But he rejected suggestions that his banking strategy had failed.
Speaking on Irish radio, he declined to disclose the interest rate the country would have to pay on any EU-IMF loans, but said it would be “a lot less than what we have to borrow at if we went to the world markets”.
A special cabinet meeting in Dublin was due to finalise a four-year plan to stabilise the battered economy, which would involve at least €15bn ($20bn) in spending cuts and tax increases – or about 10 per cent of annual economic output – from 2011 to 2014.
The Irish government’s beleaguered position was underlined by a poll in the Sunday Business Post by Red C that put Fianna Fáil on 17 per cent of first preference votes, less than half the level it achieved at the last general election in 2007.



 

quantotanto

Forumer attivo
Ho notato come anche queste due gemelline Bawag e AAREAL abbiano raggiunto quotazioni interessanti intorno a 20% il nominale e'25%

Quindi sarebbero corrispondenti a una quotazione del 80% su 100% nominale con un tasso del 7,125% si va comodamente oltre il 10% o sbaglio?

Queste sono come preferred shares senza scadenza con dividendo invece di cedola vero?

Sì, sono quelle quotate come azioni sull'euronext di Amsterdam.
 

Zorba

Bos 4 Mod
Sempre dal FT

Published: November 21 2010 23:10 | Last updated: November 21 2010 23:10

Banks to be restructured as part of bail-out

Ireland’s banks will be restructured as part of a financial bail-out and the financial sector will “become significantly smaller” as the result, Brian Cowen, the prime minister, said on Sunday.
Mr Cowen and Brian Lenihan, finance minister, said a “deep restructuring” would be one of the two main elements of a bail-out led by the European Union and the International Monetary Fund requested by Dublin on Sunday.

“Irish banks will become significantly smaller than they have been in the past, so that they can gradually be brought to stand on their own two feet once more,” Mr Cowen said.
Mr Lenihan said as part of the restructuring banks would have to sell non-essential foreign assets. But he said Ireland’s banks still needed fundamental reform.
The EU/IMF-led bail-out, the finance minister said, was intended to make sure that financial markets got the message that significant “firepower” stood behind the Irish banking sector, even if Dublin might choose not to use it.
“It is important to bear in mind that it is not intended to draw down all these monies, particularly in relation to the banking sector,” Mr Lenihan said. “It is important to demonstrate that the reserves are available to meet whatever capital requirements are established, and that that firepower stands behind the Irish banking system.”
A team from the IMF, the EU and the European Central Bank has been in Dublin since Thursday probing the books of the six domestic lenders as a prelude to a large-scale recapitalisation. Irish banks have been brought to the brink by a property and building sector crash. that has left them holding billions of euros of impaired loans.
With the interbank markets closed, Irish banks have become dangerously reliant on ECB funds and at the end of October accounted for a quarter of all the liquidity provided to the euro banking system.
The precipitate cause of the bail-out request appears to have been the recent exodus of deposits that has made the banks ever more dependent on central bank support.
“You cannot have a bank system that’s just dependent on central bank support,” Mr Lenihan told Irish radio earlier on Sunday.
“It has to be weaned off central bank support, and a detailed structural plan for the resolution of all Irish banking difficulties will be devised as part of the programme,” Mr Lenihan said.
“Because of the degree of their dependence and support from the European Central Bank it is essential that we deepen the approach to addressing the structural problems in the [Irish] banking system.”
“Over time, the banks can be reshaped. The key issue is to ensure that we do not have a collapse of the banking sector.”


 

samantaao

Forumer storico
OT
confesso, giov ho ho messo un cip sul btp21i, solo per trading
non ho certezza che sui subordinati lo storno sia finito, non so si aspetti di vedere come trattano le irlandesi
 
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