Mais78
BAWAG fan club
ti sembra realistico?
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (1 Viewer)
- Creatore Discussione negusneg
- Data di Inizio
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- 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
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ti sembra realistico?
maxinblack
Forumer storico
Se hai visto Bondboard fanno piu' o meno come dici te
maxinblack
Forumer storico
Saro' un po' fissato ma questa BPCE che rende quasi il 12% mi incuriosisce. C'e' qualcosa che non torna o e' una ciofega ho e' un affare, l'ho confrontata con varie emissioni molto simili ed'e' sottovalutata rispetto a tutte per esempio rispetto a SEB che e' quasi strutturata uguale:
https://www.boerse-stuttgart.de/rd/de/anleihen/factsheet?sSymbol=7B8A.STU&lang=de
Mi spiegate perche queste 2 Tier 1 BPCE e SEB equipaggiate quasi ugualmente, una quota 101 e l'altra 88?
https://www.boerse-stuttgart.de/rd/de/anleihen/factsheet?sSymbol=SEBH.STU&lang=de
Hanno Stesso coupon 9,250, stessa call 2015 quasi stesso rating BPCE BBB-
SEB BB+ Ci deve essere qualcosa di spaventoso nel prospetto senon c'e' e' un occasione
SEB Post call 5anni EUR SWAP + 640 Basispunkte
BPCE termina li o continua con 9,250? non trovo info post call
'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
Poi ci sono quest altre strutturate similmente a BPCE e tutte a prezzo piu' alto,
A1ALVC 9,5000 Deutsche Bank Cap.F.Tr.XI 09/unbefr. (Nachranganl. Hybrid) unbefristet
31.03.2015 0,0 3 105,85
A1AL1S 9,3750 Societe Generale 09/unbefr. (Nachranganl. Hybrid) unbefristet
04.09.2019 3M-EURIBOR +890,1 3 108,90
A1AN0B 9,2500 BPCE 09/unbefr. (Nachranganl. Hybrid) unbefristet
22.04.2015 0,0 3 87,90 BB
SEB0E1 9,2500 Skandinaviska Enskilda 09/unbefr. (Nachranganl. Hybrid) unbefristet
31.03.2015 0,0 3 100,90
A1APKN 9,0000 Nykredit Realkredit 09/unbefr. (Nachranganl. Hybrid) unbefristet
01.04.2015 0,0 3 102,15
https://www.boerse-stuttgart.de/rd/de/anleihen/factsheet?sSymbol=7B8A.STU&lang=de
Mi spiegate perche queste 2 Tier 1 BPCE e SEB equipaggiate quasi ugualmente, una quota 101 e l'altra 88?
https://www.boerse-stuttgart.de/rd/de/anleihen/factsheet?sSymbol=SEBH.STU&lang=de
Hanno Stesso coupon 9,250, stessa call 2015 quasi stesso rating BPCE BBB-
SEB BB+ Ci deve essere qualcosa di spaventoso nel prospetto senon c'e' e' un occasione
SEB Post call 5anni EUR SWAP + 640 Basispunkte
BPCE termina li o continua con 9,250? non trovo info post call
'''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''''
Poi ci sono quest altre strutturate similmente a BPCE e tutte a prezzo piu' alto,
A1ALVC 9,5000 Deutsche Bank Cap.F.Tr.XI 09/unbefr. (Nachranganl. Hybrid) unbefristet
31.03.2015 0,0 3 105,85
A1AL1S 9,3750 Societe Generale 09/unbefr. (Nachranganl. Hybrid) unbefristet
04.09.2019 3M-EURIBOR +890,1 3 108,90
A1AN0B 9,2500 BPCE 09/unbefr. (Nachranganl. Hybrid) unbefristet
22.04.2015 0,0 3 87,90 BB
SEB0E1 9,2500 Skandinaviska Enskilda 09/unbefr. (Nachranganl. Hybrid) unbefristet
31.03.2015 0,0 3 100,90
A1APKN 9,0000 Nykredit Realkredit 09/unbefr. (Nachranganl. Hybrid) unbefristet
01.04.2015 0,0 3 102,15
DinoP
life is good
ciao Maxi,
sei come un segugio, scovi tutto!!
scherzi a parte per quanto ne capisco mi sembra che BPCE come gruppo sia a posto, quindi la P incuriosisce anche me, perchè se non ci sono trabochetti strani è indubbiamente interessante.
serve l'aiuto di chi sa leggere anche fra le righe del regolamento.
mi sembra che il grado di sub sia massimo.
Notes:
There are risk factors that may affect the Issuer's ability to fulfil its
obligations under the Notes and risk factors which are material for the
purpose of assessing the risks associated with the Notes, including the
following (each of which is described in more detail under “Risk
Factors”):
(a) The Notes are deeply subordinated obligations and will be
subordinated to all the Issuer's existing and future indebtedness
(except other deeply subordinated obligations);
(b) The principal amount of the Notes may be reduced to absorb
losses of the Issuer;
(c) There are certain restrictions on payments under the Notes;
(d) There is no limitation on issuing or guaranteeing debt;
(e) The Notes are undated securities;
(f) The Notes may be redeemed under certain circumstances
(including for taxation, regulatory and other reasons); and
(g) There is no prior market for the Notes.
Ultima modifica:
nik.sala
Money Never Sleeps
marketa
Forumer attivo
Ragazzi io sono cliente di Banca Personale (gruppo MPS) e faccio tutto tramite telefono (questi titoli P) e chi risponde è super competente e posso comprare tutto. Gli eseguiti quasi immediati. Io sono super contento
Mais78
BAWAG fan club
[FONT="]Hybrids must absorb losses in crises to play a part in insurance tier one, says CEIOPS[/FONT][FONT="] [/FONT]
[FONT="] [/FONT][FONT="]EURMCM0020091201e5bd0005s[/FONT][FONT="] [/FONT]
[FONT="] 398 Words [/FONT]
[FONT="] 13 November 2009 [/FONT]
[FONT="] Euroweek [/FONT]
[FONT="] eurmcm [/FONT]
[FONT="] English [/FONT]
[FONT="] © Copyright 2009 Euromoney Institutional Investor plc. EuroWeek.com - News on the global capital markets - Live on Fridays before 10am GMT & 9am in HK[/FONT]
[FONT="]CEIOPS submitted its final advice on Solvency II Level 2 Implementing Measures to the European Commission on Tuesday.[/FONT]
[FONT="]"While CEIOPS recognises that banking and insurance have quite different business models, we believe that in this area, cross-sectoral convergence, in particular in relation to the basic principles, cannot be ignored," it said in a letter to the commission.[/FONT]
[FONT="]"Hence, CEIOPS sees the quality of capital as a crucial element for a solid Solvency II regime. Consequently, while recognising some hybrid instruments as eligible, CEIOPS insists on the need to focus on loss-absorbing capacity of the instruments, rather than on their name."[/FONT]
[FONT="]The committee said that political discussions should take into account parallel developments in other sectors in order to avoid regulatory arbitrage.[/FONT]
[FONT="]CEIOPS also said that high quality hybrids should be restricted to 20% of tier one. It said that the limit for tier one should not be lowered below 50% and that the characteristics for hybrids should be that "they continue to absorb losses first or rank pari passu, in going concern, with capital instruments that substantially absorb first losses".[/FONT]
[FONT="]The statement comes as bank regulators across the world have been putting pressure on banks to improve their capital bases and restrict the use of hybrids. Instead, they are pushing banks to improve their core tier one ratio, which is seen as the best form of capital.[/FONT]
[FONT="]CEIOPS is also pushing for a narrow definition of hybrids and that they fully meet loss absorption mechanisms and be available when needed in times of stress.[/FONT]
[FONT="]Meanwhile, CEIOPS said that the minimum maturities for tier one should be 10 years, five years for tier two, and three years for tier three.[/FONT]
[FONT="]Analysts a BNP Paribas said that this approach to maturities meant that "we are not exactly changing at all in relation to the credit crisis’ lessons learned".[/FONT]
[FONT="]They added: "This means that most subordinated debt would qualify as currently stated. Gone are the concerns about more supply in the sector to replace all these inadequately designed bonds."[/FONT]
[FONT="]Insurance companies have been regular issuers of subordinated debt this year. In July, Prudential priced a $750m tier one deal and it was soon followed by L&G and Zurich raising lower tier two in the sterling and euro markets.[/FONT]
[FONT="] [/FONT][FONT="]EURMCM0020091201e5bd0005s[/FONT][FONT="] [/FONT]
[FONT="] 398 Words [/FONT]
[FONT="] 13 November 2009 [/FONT]
[FONT="] Euroweek [/FONT]
[FONT="] eurmcm [/FONT]
[FONT="] English [/FONT]
[FONT="] © Copyright 2009 Euromoney Institutional Investor plc. EuroWeek.com - News on the global capital markets - Live on Fridays before 10am GMT & 9am in HK[/FONT]
[FONT="]CEIOPS submitted its final advice on Solvency II Level 2 Implementing Measures to the European Commission on Tuesday.[/FONT]
[FONT="]"While CEIOPS recognises that banking and insurance have quite different business models, we believe that in this area, cross-sectoral convergence, in particular in relation to the basic principles, cannot be ignored," it said in a letter to the commission.[/FONT]
[FONT="]"Hence, CEIOPS sees the quality of capital as a crucial element for a solid Solvency II regime. Consequently, while recognising some hybrid instruments as eligible, CEIOPS insists on the need to focus on loss-absorbing capacity of the instruments, rather than on their name."[/FONT]
[FONT="]The committee said that political discussions should take into account parallel developments in other sectors in order to avoid regulatory arbitrage.[/FONT]
[FONT="]CEIOPS also said that high quality hybrids should be restricted to 20% of tier one. It said that the limit for tier one should not be lowered below 50% and that the characteristics for hybrids should be that "they continue to absorb losses first or rank pari passu, in going concern, with capital instruments that substantially absorb first losses".[/FONT]
[FONT="]The statement comes as bank regulators across the world have been putting pressure on banks to improve their capital bases and restrict the use of hybrids. Instead, they are pushing banks to improve their core tier one ratio, which is seen as the best form of capital.[/FONT]
[FONT="]CEIOPS is also pushing for a narrow definition of hybrids and that they fully meet loss absorption mechanisms and be available when needed in times of stress.[/FONT]
[FONT="]Meanwhile, CEIOPS said that the minimum maturities for tier one should be 10 years, five years for tier two, and three years for tier three.[/FONT]
[FONT="]Analysts a BNP Paribas said that this approach to maturities meant that "we are not exactly changing at all in relation to the credit crisis’ lessons learned".[/FONT]
[FONT="]They added: "This means that most subordinated debt would qualify as currently stated. Gone are the concerns about more supply in the sector to replace all these inadequately designed bonds."[/FONT]
[FONT="]Insurance companies have been regular issuers of subordinated debt this year. In July, Prudential priced a $750m tier one deal and it was soon followed by L&G and Zurich raising lower tier two in the sterling and euro markets.[/FONT]
bia06
Listen other's viewpoint avoid conflicts & wars.
Banca Personale.
Buono a sapersi. Per molti, me compreso, le operazioni di compravendita OTC sono un calvario.
Non per farmi i fatti Tuoi, è Private o anche per noi comuni mortali?
E' online o devi aprire un conto fisico?
Sei in Toscana o non importa (rete nazionale)?
Ciao, Bia
Ragazzi io sono cliente di Banca Personale (gruppo MPS) e faccio tutto tramite telefono (questi titoli P) e chi risponde è super competente e posso comprare tutto. Gli eseguiti quasi immediati. Io sono super contento
Buono a sapersi. Per molti, me compreso, le operazioni di compravendita OTC sono un calvario.
Non per farmi i fatti Tuoi, è Private o anche per noi comuni mortali?
E' online o devi aprire un conto fisico?
Sei in Toscana o non importa (rete nazionale)?
Ciao, Bia
bia06
Listen other's viewpoint avoid conflicts & wars.
Indicizzazione sito.
Secondo me lo spunto di Gianni Mello è da cogliere.
Oggettivamene anch'io ho trovato difficoltà quando si è trattato di ricercare info su perpetue (passatemi il termine) non blue chips.....
Sulla fattibilità delle singole proposte non ho l'esperienza per pronunciarmi.
Lascio a Voi, che ne sapete di più, come concretizzare questo spunto costruttivo. Bia
Secondo me lo spunto di Gianni Mello è da cogliere.
Oggettivamene anch'io ho trovato difficoltà quando si è trattato di ricercare info su perpetue (passatemi il termine) non blue chips.....
Sulla fattibilità delle singole proposte non ho l'esperienza per pronunciarmi.
Lascio a Voi, che ne sapete di più, come concretizzare questo spunto costruttivo. Bia
- Stato