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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- 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
Coche
Forumer storico
mellis
Nuovo forumer
colgo l'occasione per chiedere invece un parere a tutti sul titolo LloydsBG XS0459088109 cedola 9,3% che nei giorni scorsi dai siti tedeschi è sceso a circa 83/84; so bene che la LBG è una banca fantasma tenuta su con i fili e che su alcune perp se non erro la cedola è sospesa; questo titolo però se non ho capito male è stato emesso in fase di ristrutturazione come accorpoamento di altri vecchi titoli; secondo voi (salvo il caso di catastrofi) l'istituto potrebbe bloccare la cedola anche su questo? Trattandosi di un post ristrutturazione credo che prima di fare un passo del genere a livello di immagine ci pensano 2 volte ...o no? Sto dicedno cavoltae?
solenoide
Forumer storico
ciao,
nei miei ricordi e' stato uno tra i primi co co bonds emessi , fossi in te lo lascerei stare.
http://www.lloydsbankinggroup.com/media/pdfs/investors/2010/Non-US_EOM.pdf
Broker88
Senior Member
Ovviamente,ho messo le Prime che mi venivano in Mente
Metterei Pure Baca Rzb(hanno uno stato dietro solido)
A me piacerebbe uscisse qlc voce su Deut Bank...
Ciao,
mi ripresento dopo oltre 1 anno e mezzo sulle perpetual dove, su vostre indicazioni, ho fatto poche operazioni, prevalentemente su Ba-Ca concluse cn gran successo.
Poi le borse si son riprese...la crisi è finita e via dicendo e quindi ... ho lasciato perdere.
Poi la crisi è tornata (o meglio, se ne sono ricordati
) e allora...beh, e allora perchè non farsi un bel giro di nuovo sulle perp. ?Ancche in considerazione di un fatto...col super-bollo o gaini come un pazzo o...metti nei conti deposito
Visto che sull'equity non ci entro neanche sotto tortura e il trading sui BTP è diventata roba alquanto scottante...una piccola % (il 30%
) buttato sui perp. potrebbe essere divertente..tdf
Forumer attivo
Deutsche Postbank EUR DE000A0D24Z1ce l'ho in carico a 67 quando si parlava di acquisizione da parte di D. Bank, è scesa moltissimo nonostante sembri un emittente solido, la call era per luglio 2011 mi sembra, ovviamente visto i prezzi non è stata esercitata, qualcuno sa qualcosa?
bosmeld
Forumer storico
semestrale di italease in rosso. leggendola in un paragrafo si parla della nostra p.
Aggiornamenti sull’emissione di Preferred Securities La cedola del 6 marzo 2011 relativa alle Preferred Securities da 150 milioni di euro (cod. ISIN: XS0255673070) emesse tramite Banca Italease Funding LLC , società interamente controllata da Banca Italease , non è stata corrisposta agli obbligazionisti ricorrendo, come per le cedole precedenti, le condizioni contrattuali per la sospensione del pagamento dei dividendi. La sospensione del pagamento è avvenuta anche per la cedola di giugno u.s., in quanto Banca Italease non ha corrisposto dividendi agli azionisti, né si sono verificate le altre circostanze (riacquisti o pagamenti su strumenti di uguale subordinazione) che avrebbero altrimenti obbligato al pagamento, sebbene dall'ultimo bilancio individuale approvato, relativo all’esercizio 2010, risulti la realizzazione di un utile. Tale utile, infatti, è riconducibile all’adesione da parte della Banca al consolidato fiscale del Gruppo Banco Popolare, in assenza della quale sarebbe stata registrata una perdita.
Aggiornamenti sull’emissione di Preferred Securities La cedola del 6 marzo 2011 relativa alle Preferred Securities da 150 milioni di euro (cod. ISIN: XS0255673070) emesse tramite Banca Italease Funding LLC , società interamente controllata da Banca Italease , non è stata corrisposta agli obbligazionisti ricorrendo, come per le cedole precedenti, le condizioni contrattuali per la sospensione del pagamento dei dividendi. La sospensione del pagamento è avvenuta anche per la cedola di giugno u.s., in quanto Banca Italease non ha corrisposto dividendi agli azionisti, né si sono verificate le altre circostanze (riacquisti o pagamenti su strumenti di uguale subordinazione) che avrebbero altrimenti obbligato al pagamento, sebbene dall'ultimo bilancio individuale approvato, relativo all’esercizio 2010, risulti la realizzazione di un utile. Tale utile, infatti, è riconducibile all’adesione da parte della Banca al consolidato fiscale del Gruppo Banco Popolare, in assenza della quale sarebbe stata registrata una perdita.
Zorba
Bos 4 Mod
Postato da Tommy
Greece's Eurobank, Alpha Bank in merger deal: sources
By Lefteris Papadimas and George Georgiopoulos
ATHENS | Sat Aug 27, 2011 2:54pm EDT
(Reuters) - Greece's second and third largest banks, Eurobank and Alpha Bank, are expected to announce on Monday a merger deal to better face a severe sovereign debt crisis and recession, banking sources said on Saturday.
The expected deal, which is set to form the biggest bank in southeast Europe, will help the two lenders avoid turning to a state liquidity support mechanism and is likely to spark more reshuffling in the country's banking sector, analysts said.
Troubled by rating downgrades, deposit outflows and loan impairments, Greek bank shares have tumbled more than 55 percent in the year to date. Investors are concerned that writedowns from an upcoming bond swap aimed at saving Athens from bankruptcy and loan impairments could force the banks to recapitalize and turn to the state for help.
"The deal is about a friendly merger between Alpha Bank (ACBr.AT) and Eurobank (EFGr.AT), with the participation to a significant extent of the Qatar Investment Authority," a senior banker at Alpha Bank told Reuters.
The banker, and another banking source involved in the deal, said the two lenders will hold board meetings on Monday, which will be followed by announcements and a news conference.
"EFG Eurobank and Alpha Bank are close to a merger deal," the second banking source said. "The new entity will have assets of 150 billion euros ($211.3 billion), 8 million clients, 80 billion euros of deposits," the banker said.
The Qatar Investment Authority, which is already a shareholder in Alpha, will become a major shareholder in the new group, both sources said.
Analysts welcomed news of the deal, saying it could help the two lenders weather the crisis.
"This is a strategic move in the right direction that will protect the two banks from the worst that is ahead for the Greek banking sector," said Takis Zamanis, chief trader at Beta Securities.
"Qatar will probably inject money into the new entity at a time when Greek banks are facing lack of liquidity, losses from the PSI (private sector involvement in the bond swap) and rising loan impairments," he said. "The two banks may avoid asking liquidity from the existing support mechanism."
Recourse to Greece's Financial Stability Fund, a 10 billion euro safety net set aside to recapitalize lenders that find it hard to raise funds in the market, would set banks up for restructuring.
*.*.*.*
Mi sembra una buona notizia. Certo che avevo preso Alpha e EFG per diversificare...
Greece's Eurobank, Alpha Bank in merger deal: sources
By Lefteris Papadimas and George Georgiopoulos
ATHENS | Sat Aug 27, 2011 2:54pm EDT
(Reuters) - Greece's second and third largest banks, Eurobank and Alpha Bank, are expected to announce on Monday a merger deal to better face a severe sovereign debt crisis and recession, banking sources said on Saturday.
The expected deal, which is set to form the biggest bank in southeast Europe, will help the two lenders avoid turning to a state liquidity support mechanism and is likely to spark more reshuffling in the country's banking sector, analysts said.
Troubled by rating downgrades, deposit outflows and loan impairments, Greek bank shares have tumbled more than 55 percent in the year to date. Investors are concerned that writedowns from an upcoming bond swap aimed at saving Athens from bankruptcy and loan impairments could force the banks to recapitalize and turn to the state for help.
"The deal is about a friendly merger between Alpha Bank (ACBr.AT) and Eurobank (EFGr.AT), with the participation to a significant extent of the Qatar Investment Authority," a senior banker at Alpha Bank told Reuters.
The banker, and another banking source involved in the deal, said the two lenders will hold board meetings on Monday, which will be followed by announcements and a news conference.
"EFG Eurobank and Alpha Bank are close to a merger deal," the second banking source said. "The new entity will have assets of 150 billion euros ($211.3 billion), 8 million clients, 80 billion euros of deposits," the banker said.
The Qatar Investment Authority, which is already a shareholder in Alpha, will become a major shareholder in the new group, both sources said.
Analysts welcomed news of the deal, saying it could help the two lenders weather the crisis.
"This is a strategic move in the right direction that will protect the two banks from the worst that is ahead for the Greek banking sector," said Takis Zamanis, chief trader at Beta Securities.
"Qatar will probably inject money into the new entity at a time when Greek banks are facing lack of liquidity, losses from the PSI (private sector involvement in the bond swap) and rising loan impairments," he said. "The two banks may avoid asking liquidity from the existing support mechanism."
Recourse to Greece's Financial Stability Fund, a 10 billion euro safety net set aside to recapitalize lenders that find it hard to raise funds in the market, would set banks up for restructuring.
*.*.*.*
Mi sembra una buona notizia. Certo che avevo preso Alpha e EFG per diversificare...
Zorba
Bos 4 Mod
Dal FT
August 27, 2011 5:59 pm
EFG Eurobank and Alpha Bank to merge
By Kerin Hope and Dimitris Kontogiannis in Athens
Greece’s second- and third-largest banks are close to announcing an all-share merger to be followed by a €500m capital injection from the Gulf state of Qatar, senior executives at both banks said on Saturday.
The merger of EFG Eurobank and Alpha Bank “would create the eurozone’s 25th biggest bank” following the capital injection, according to senior executives.
“You can consider this a done deal,” said one executive.
Details would be announced on Monday, following separate meetings of the two banks’ boards, they said.
Qatar’s ruling family already holds a 4.5 per cent equity stake in Alpha Bank. Yannis Costopoulos, Alpha’s chairman and a leading shareholder, would become chairman of the new entity.
“The aim is to complete the deal by the end of this year … the merged entity would then go for a rights issue early in 2012,” said another person with knowledge of the deal.
The merger comes as Christine Lagarde, head of the International Monetary Fund chief, told a US Federal Reserve meeting that European banks should be forced to reinforce their capital.
The merged entity would have about 8m customers in 10 countries across southeast Europe. Its combined deposits would amount to €80bn with total assets at €150bn.
Alpha rejected in February an all-share merger proposed by National Bank of Greece – the country’s biggest lender – under the government’s policy of pursuing consolidation in the sector.
EFG Eurobank, which is 40 per cent controlled by the Swiss-based Latsis family, has held unsuccessful talks merger talks with NBG, according to people familiar with the discussions.
Their proposed tie-up comes at a time of increasing uncertainty for Greek lenders, with a 21 per cent “haircut” on their large portfolios of Greek bonds looming as the government puts together a €135bn package of debt swaps and rollovers as part of its second bail-out by eurozone partners.
The banks are tightly squeezed for liquidity, having almost run out of collateral deemed acceptable for funding by the European Central Bank following a series of downgrades by rating agencies.
Banks also face a sharply rising percentage of non-performing loans, with the country entering its fourth straight year of recession.
According to estimates by some private sector analysts, NPLs exceeded 15 per cent of total lending by the sector at the end of the second quarter.
“If this deal goes through, the country’s two most competitive banks will have a chance to turn themselves around – rather than have to seek official support and effectively be nationalised,” said one analyst.
He was referring to a €10bn bank stability facility backed by the International Monetary Fund set up last year to recapitalise Greek banks under the terms of the country’s first bail-out.
August 27, 2011 5:59 pm
EFG Eurobank and Alpha Bank to merge
By Kerin Hope and Dimitris Kontogiannis in Athens
Greece’s second- and third-largest banks are close to announcing an all-share merger to be followed by a €500m capital injection from the Gulf state of Qatar, senior executives at both banks said on Saturday.
The merger of EFG Eurobank and Alpha Bank “would create the eurozone’s 25th biggest bank” following the capital injection, according to senior executives.
“You can consider this a done deal,” said one executive.
Details would be announced on Monday, following separate meetings of the two banks’ boards, they said.
Qatar’s ruling family already holds a 4.5 per cent equity stake in Alpha Bank. Yannis Costopoulos, Alpha’s chairman and a leading shareholder, would become chairman of the new entity.
“The aim is to complete the deal by the end of this year … the merged entity would then go for a rights issue early in 2012,” said another person with knowledge of the deal.
The merger comes as Christine Lagarde, head of the International Monetary Fund chief, told a US Federal Reserve meeting that European banks should be forced to reinforce their capital.
The merged entity would have about 8m customers in 10 countries across southeast Europe. Its combined deposits would amount to €80bn with total assets at €150bn.
Alpha rejected in February an all-share merger proposed by National Bank of Greece – the country’s biggest lender – under the government’s policy of pursuing consolidation in the sector.
EFG Eurobank, which is 40 per cent controlled by the Swiss-based Latsis family, has held unsuccessful talks merger talks with NBG, according to people familiar with the discussions.
Their proposed tie-up comes at a time of increasing uncertainty for Greek lenders, with a 21 per cent “haircut” on their large portfolios of Greek bonds looming as the government puts together a €135bn package of debt swaps and rollovers as part of its second bail-out by eurozone partners.
The banks are tightly squeezed for liquidity, having almost run out of collateral deemed acceptable for funding by the European Central Bank following a series of downgrades by rating agencies.
Banks also face a sharply rising percentage of non-performing loans, with the country entering its fourth straight year of recession.
According to estimates by some private sector analysts, NPLs exceeded 15 per cent of total lending by the sector at the end of the second quarter.
“If this deal goes through, the country’s two most competitive banks will have a chance to turn themselves around – rather than have to seek official support and effectively be nationalised,” said one analyst.
He was referring to a €10bn bank stability facility backed by the International Monetary Fund set up last year to recapitalise Greek banks under the terms of the country’s first bail-out.
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