Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (4 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
no perpetual no party
Forumer storico
77.25-77.500
Per dire : 1l 28 febbraio quotava 77.6, e il 10 gennaio 72.1
chi ci capisce qualcosa......
bah
tu che sei il vice di Azema, allora che fate? la comprate sta fondiaria o no?
amorgos34
CHIAGNI & FOTTI SRL
chi ci capisce qualcosa......
bah
tu che sei il vice di Azema, allora che fate? la comprate sta fondiaria o no?
Spero di no
no perpetual no party
Forumer storico
Spero di no
dai, che se nel 2012 vi quotate in borsa, le vs subordinate partono a razzo verso i 100
samantaao
Forumer storico
forse su questi strumenti ci sono soggetti operanti differenti
immaginoo che sulle senior il + del mercato sia fatto dai fondi
sulle perpetue banche hedge e forumers
Ultima modifica:
samantaao
Forumer storico
77.25-77.500
Per dire : 1l 28 febbraio quotava 77.6, e il 10 gennaio 72.1
grazie amorgos
spettiamo
Ultima modifica:
junior63
Forumer storico
Proprio comico vedere una Abn Amro XS0246487457 che paga il 4,31% fisso a 76-77 e il BTP 2037 4% a 79,5
Oppure banche disastrate come la BOI che versano gli interessi sulle P utilizzando i soldi ricevuti dai contribuenti e hanno valori superiori alle P. delle banche greche sane che però sono cariche di m...a del loro stato.
Ultima modifica:
tomcat
Forumer attivo
l'indice tier 1 è ancora in leggera salita
da considerare il fatto che le perpetuals reagiscono in modo leggermente ritardato ai movimenti di mercato e che, in ogni caso, sono tra i pochi strumenti che assicurano un flusso cedolare significativo (non paragonabile con quello ricavabile dai titoli corporate senior anche dopo i recenti aggiustamenti)
avete notato qualche riflesso in relazione all'area geografica dell'emittente?
(vedi odierno taglio dei rating su banche commerciali greche)
non vorrei che al tiro al bersaglio su TDS pigs si aggiungesse quello sulle perp. pigs
DEPFA Funding IV LP will not pay the next coupon on its
Preferred Securities
Dublin/Munich, 4 March 2011 – The Board of Directors of Dublin-based
DEPFA BANK plc has determined that its Tier 1 issuing vehicle DEPFA
Funding IV LP will not make payments on its € 500 million Preferred Securities (XS0291655727) on the next Distribution Payment Date scheduled 21
March 2011.
Preferred securities are a particular class of subordinated Tier 1 instruments.
The conditions for coupon payments are set out in the terms and conditions
of each issue. In principle Coupon payments are at the discretion of the
Board of Directors of DEPFA BANK plc unless a contractual or other legal
prohibition on payment exists. As of 4 March 2011 such a situation exists
whereby DEPFA BANK plc is not permitted to pay coupons owing to insufficient Adjusted Distributable Reserves (ADR) as calculated from the latest
available audited annual accounts of the company.
In addition, DEPFA BANK plc considers servicing these instruments would
conflict with the EU Commission’s rules for banks subject to a restructuring
aid investigation. In its Communication on restructuring aid to financial institutions of July 2009 the Commission sets out that “banks should not use
state aid to remunerate own funds (equity and subordinated debt) when their
activities do not generate sufficient profits”. DEPFA BANK plc.’s shareholder, Hypo Real Estate Holding AG, has been in receipt of restructuring
aid from the Federal Republic of Germany and is awaiting a final ruling on
the compatibility of such aid.
DEPFA BANK plc will make a decision regarding the payment of coupons
on its other subordinated Tier 1 instruments, DEPFA Funding II LP
(XS0178243332) and DEPFA Funding III LP (DE000A0E5U85), closer to
their scheduled distribution payment dates on 30 October 2011 and 8 June
2011 respectively. Nevertheless, in this context DEPFA BANK plc does not
expect that any such coupon payments will be made in 2011.
Preferred Securities
Dublin/Munich, 4 March 2011 – The Board of Directors of Dublin-based
DEPFA BANK plc has determined that its Tier 1 issuing vehicle DEPFA
Funding IV LP will not make payments on its € 500 million Preferred Securities (XS0291655727) on the next Distribution Payment Date scheduled 21
March 2011.
Preferred securities are a particular class of subordinated Tier 1 instruments.
The conditions for coupon payments are set out in the terms and conditions
of each issue. In principle Coupon payments are at the discretion of the
Board of Directors of DEPFA BANK plc unless a contractual or other legal
prohibition on payment exists. As of 4 March 2011 such a situation exists
whereby DEPFA BANK plc is not permitted to pay coupons owing to insufficient Adjusted Distributable Reserves (ADR) as calculated from the latest
available audited annual accounts of the company.
In addition, DEPFA BANK plc considers servicing these instruments would
conflict with the EU Commission’s rules for banks subject to a restructuring
aid investigation. In its Communication on restructuring aid to financial institutions of July 2009 the Commission sets out that “banks should not use
state aid to remunerate own funds (equity and subordinated debt) when their
activities do not generate sufficient profits”. DEPFA BANK plc.’s shareholder, Hypo Real Estate Holding AG, has been in receipt of restructuring
aid from the Federal Republic of Germany and is awaiting a final ruling on
the compatibility of such aid.
DEPFA BANK plc will make a decision regarding the payment of coupons
on its other subordinated Tier 1 instruments, DEPFA Funding II LP
(XS0178243332) and DEPFA Funding III LP (DE000A0E5U85), closer to
their scheduled distribution payment dates on 30 October 2011 and 8 June
2011 respectively. Nevertheless, in this context DEPFA BANK plc does not
expect that any such coupon payments will be made in 2011.
- Stato