Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (6 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
camaleonte
Forumer storico
Qualcuno ha la quotazione di BACA...W70 per favore ? Ho la sensazione
che stia per salire : sui siti tedeschi vedo 62,25.
Sicuramente OT : non riesco a trovare un grafico che rifletta l'andamento
dell' utilizzo degli impianti produttivi in Cina, qualcuno può aiutarmi anche
in questo? Grazie e scusatemi.
che stia per salire : sui siti tedeschi vedo 62,25.
Sicuramente OT : non riesco a trovare un grafico che rifletta l'andamento
dell' utilizzo degli impianti produttivi in Cina, qualcuno può aiutarmi anche
in questo? Grazie e scusatemi.
Zorba
Bos 4 Mod
New York Investor ‘Confident’ Irish Debt Spat Accord Possible
By Dara Doyle - Apr 29, 2011 11:08 AM GMT+0200 Fri Apr 29 09:08:58 GMT 2011
One of the two New York-based investment firms challenging Irish plans to share losses with Allied Irish Banks Plc (ALBK) bondholders said it is “confident a mutually acceptable” resolution can be found.
Abadi & Co. and Aurelius Capital Management LP filed cases on April 20 against the Irish government’s plans to change the terms of Dublin-based Allied Irish’s subordinated debt. The bank is 93 percent state owned.
“We would be willing to enter into a constructive dialogue with the finance minister,” Carlos Abadi, president of Abadi & Co., said in an e-mailed response to questions. The Irish proposals “would appear to interfere with fundamental property rights of creditors,” he said.
The cases would be the first test of the Irish plan to share the 70 billion-euro ($103.7 billion) cost of bailing out financial system with bondholders.
The two cases are “entirely unfounded” and the government remains “fully committed” to burden sharing with subordinated bondholders, Finance Minister Michael Noonan said on April 22. Noonan has said he expects the bank to discount bonds by as much as 80 percent.
On April 14, the government won an order from the High Court in Dublin allowing Noonan to change the terms of Allied Irish debt, using bank laws introduced last year in the wake of Ireland’s financial collapse. The Irish state has already poured 7.2 billion euros into the bank, which needs another 13.3 billion euros in capital, according to stress tests.
Court Ruling
The judgment makes the payment of interest on some debt optional and lifts restrictions on buybacks or redemptions of some junior bonds. The same day, Noonan said the Dublin-based bank will seek to buy back debt, allowing bondholders “voluntarily exit” their investments.
If that isn’t successful, the government will take “whatever other action is necessary to ensure appropriate burden sharing,” Noonan said in a statement on April 14.
A compromise may be possible way “if the parties sit down and negotiate in good faith,” said Abadi, who declined to say how much Allied Irish debt he owns or when he bought it.
“One possibility would consist in a non-coercive liability management exercise which would enable AIB to raise significant capital while not tarnishing the image of either the bank or Ireland in the international capital markets,” Abadi said.
Allied Irish has raised 2.97 billion euros over the past two years from buying back and exchanging subordinated bonds at discounts to face value.
The challenges are due to be heard in the High Court in Dublin next month. A spokesman for the finance minister said yesterday there was no further update to the April 22 statement.
In a letter to Noonan and the bank seen by Bloomberg News, Aurelius said the government is displaying a “disregard for the basic precepts of fairness and due process.” Aurelius had no comment to make, according to spokeswoman Jennifer Burner.
New York Investor ?Confident? Irish Debt Spat Accord Possible - Bloomberg
By Dara Doyle - Apr 29, 2011 11:08 AM GMT+0200 Fri Apr 29 09:08:58 GMT 2011
One of the two New York-based investment firms challenging Irish plans to share losses with Allied Irish Banks Plc (ALBK) bondholders said it is “confident a mutually acceptable” resolution can be found.
Abadi & Co. and Aurelius Capital Management LP filed cases on April 20 against the Irish government’s plans to change the terms of Dublin-based Allied Irish’s subordinated debt. The bank is 93 percent state owned.
“We would be willing to enter into a constructive dialogue with the finance minister,” Carlos Abadi, president of Abadi & Co., said in an e-mailed response to questions. The Irish proposals “would appear to interfere with fundamental property rights of creditors,” he said.
The cases would be the first test of the Irish plan to share the 70 billion-euro ($103.7 billion) cost of bailing out financial system with bondholders.
The two cases are “entirely unfounded” and the government remains “fully committed” to burden sharing with subordinated bondholders, Finance Minister Michael Noonan said on April 22. Noonan has said he expects the bank to discount bonds by as much as 80 percent.
On April 14, the government won an order from the High Court in Dublin allowing Noonan to change the terms of Allied Irish debt, using bank laws introduced last year in the wake of Ireland’s financial collapse. The Irish state has already poured 7.2 billion euros into the bank, which needs another 13.3 billion euros in capital, according to stress tests.
Court Ruling
The judgment makes the payment of interest on some debt optional and lifts restrictions on buybacks or redemptions of some junior bonds. The same day, Noonan said the Dublin-based bank will seek to buy back debt, allowing bondholders “voluntarily exit” their investments.
If that isn’t successful, the government will take “whatever other action is necessary to ensure appropriate burden sharing,” Noonan said in a statement on April 14.
A compromise may be possible way “if the parties sit down and negotiate in good faith,” said Abadi, who declined to say how much Allied Irish debt he owns or when he bought it.
“One possibility would consist in a non-coercive liability management exercise which would enable AIB to raise significant capital while not tarnishing the image of either the bank or Ireland in the international capital markets,” Abadi said.
Allied Irish has raised 2.97 billion euros over the past two years from buying back and exchanging subordinated bonds at discounts to face value.
The challenges are due to be heard in the High Court in Dublin next month. A spokesman for the finance minister said yesterday there was no further update to the April 22 statement.
In a letter to Noonan and the bank seen by Bloomberg News, Aurelius said the government is displaying a “disregard for the basic precepts of fairness and due process.” Aurelius had no comment to make, according to spokeswoman Jennifer Burner.
New York Investor ?Confident? Irish Debt Spat Accord Possible - Bloomberg
Zorba
Bos 4 Mod
ma come già arrivata...stacca domani!!!!!su banca estera cedola accreditata oggi
Noi di IW che dovremo aspettare 20 gg
nik.sala
Money Never Sleeps
Bawag xs0119643897
Qualcuno ha dei prezzi operativi ???
Mi sembra una delle poche perpetue rimaste ancora appetibili
mi sa che siamo sui 74
ma come già arrivata...stacca domani!!!!!
Noi di IW che dovremo aspettare 20 gg
Qualcuno ha dei prezzi operativi ???
Mi sembra una delle poche perpetue rimaste ancora appetibili
mi sa che siamo sui 74
Omero
Forumer storico
Se può esservi utile nel link seguente trovate alcune informazioni a relative a Reg S
BNY Mellon Depositary Receipts - DR Profile Disclaimer - Reg. S
in pratica si tratta di una restrizione all'acquisto di titoli per i residenti negli Stati Uniti.
Ovvero fra i programmi di ADR e GDR (i certificati di deposito di società non statunitensi presso banche accreditate) di società non statunitensi, fra cui rientrano le preferred securities (le perpetue e simili), ce ne sono alcune che i residenti negli USA non possono acquistare e ricadono nella Reg S.
In genere di uno stesso ADR/GDR ce n'è uno per i residenti negli USA (indicati con Rule 144A) e uno per i residenti non USA (i Reg S), altri sono accessibili indistintamente.
Scusate la spiegazione un pò grezza, ma non sono un esperto di legislazione e regolamenti, anche se opero parecchio su ADR e GDR.
- Stato