ginopelo
Moving to PeloPonneso
concordo, sarebbe utile capirlo in fretta perchè stamattina è già a 101,75
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 1 (15 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
concordo, sarebbe utile capirlo in fretta perchè stamattina è già a 101,75
Mais78
BAWAG fan club
bosmeld
Forumer storico
2 quotazioni
Anglo irish 807 28,5 denaro 30.5 lettera
Anglo irish 2015 35,5 denaro 37,5 lettera.
By John Glover
Sept. 9 (Bloomberg) -- Bonds of Anglo Irish Bank Corp., the
nationalized lender, jumped after an official said the bank
asked for approval to buy back subordinated debt and the
government announced plans to split the bank into two parts.
The lender’s 750 million euros ($950 million) of floating-
rate notes due 2017 soared 6.5 cents on the euro to 27.5 cents,
equivalent to a 31 percent gain, data compiled by Bloomberg
show. The Dublin-based lender’s 500 million euros of floating-
rate notes due 2016 also rose, increasing to 28.5 cents on the
euro from 26.5 cents, the data show.
Anglo Irish Chief Financial Officer Maarten van Eden said
yesterday that the bank asked regulators for approval to buy
back subordinated debt. The lender, which lost 20 billion euros
in two years as property loans soured, will be divided into so-
called good and bad banks, Finance Minister Brian Lenihan said
yesterday, without specifying how the debt would be allocated.
“The recovery for subordinated bondholders is bound to be
limited,” said Eleonore Lamberty, a credit analyst at ING Bank
NV in Amsterdam. “Senior debt, being a prime financing source,
is very likely to be transferred to the funding bank,” she
said, referring to the good bank owned and guaranteed by the
state that will continue to operate.
An asset-recovery bank will be run down over time,
Ireland’s Lenihan said.
Tender Takeup
In July last year, Anglo Irish tendered for seven
subordinated bonds, offering to pay 27 percent to 55 percent of
face value for the securities. Bondholders took up the offer,
selling back as much as 98 percent of a so-called Tier 1 note
and as little as 52 percent of a lower Tier 2 security.
“We’re still waiting to hear if a subordinated bond
buyback or exchange will happen,” said Bill Blain, co-head of
fixed income at Matrix Corporate Capital LLP in London. “If it
does, then get out.”
A buyback or exchange is likely to take place at about 30
percent of par, Blain said.
Credit-default swaps on the bank’s subordinated debt fell
1.4 percentage points to 41.6 percent upfront and 5 percent a
year, meaning it costs 4.16 million euros in advance and 500,000
euros annually to insure 10 million euros of debt for five
years. The contracts imply a 72.3 percent likelihood of default
within five years.
For Related News and Information:
For European new issues: NIM4 <GO>
For top bond stories: TOP BON <GO>
For top stories: TOP<GO>
Anglo irish 807 28,5 denaro 30.5 lettera
Anglo irish 2015 35,5 denaro 37,5 lettera.
By John Glover
Sept. 9 (Bloomberg) -- Bonds of Anglo Irish Bank Corp., the
nationalized lender, jumped after an official said the bank
asked for approval to buy back subordinated debt and the
government announced plans to split the bank into two parts.
The lender’s 750 million euros ($950 million) of floating-
rate notes due 2017 soared 6.5 cents on the euro to 27.5 cents,
equivalent to a 31 percent gain, data compiled by Bloomberg
show. The Dublin-based lender’s 500 million euros of floating-
rate notes due 2016 also rose, increasing to 28.5 cents on the
euro from 26.5 cents, the data show.
Anglo Irish Chief Financial Officer Maarten van Eden said
yesterday that the bank asked regulators for approval to buy
back subordinated debt. The lender, which lost 20 billion euros
in two years as property loans soured, will be divided into so-
called good and bad banks, Finance Minister Brian Lenihan said
yesterday, without specifying how the debt would be allocated.
“The recovery for subordinated bondholders is bound to be
limited,” said Eleonore Lamberty, a credit analyst at ING Bank
NV in Amsterdam. “Senior debt, being a prime financing source,
is very likely to be transferred to the funding bank,” she
said, referring to the good bank owned and guaranteed by the
state that will continue to operate.
An asset-recovery bank will be run down over time,
Ireland’s Lenihan said.
Tender Takeup
In July last year, Anglo Irish tendered for seven
subordinated bonds, offering to pay 27 percent to 55 percent of
face value for the securities. Bondholders took up the offer,
selling back as much as 98 percent of a so-called Tier 1 note
and as little as 52 percent of a lower Tier 2 security.
“We’re still waiting to hear if a subordinated bond
buyback or exchange will happen,” said Bill Blain, co-head of
fixed income at Matrix Corporate Capital LLP in London. “If it
does, then get out.”
A buyback or exchange is likely to take place at about 30
percent of par, Blain said.
Credit-default swaps on the bank’s subordinated debt fell
1.4 percentage points to 41.6 percent upfront and 5 percent a
year, meaning it costs 4.16 million euros in advance and 500,000
euros annually to insure 10 million euros of debt for five
years. The contracts imply a 72.3 percent likelihood of default
within five years.
For Related News and Information:
For European new issues: NIM4 <GO>
For top bond stories: TOP BON <GO>
For top stories: TOP<GO>
marc
Forumer storico
Non potrebbe essere più interessante la nuova CNP che mi risulta essere AA e in lettera a 100,50?
Ringrazio per le considerazioni...
camaleonte
Forumer storico
Buongiorno a tutti !
sono nuovo come registrazione ma vi seguo da più di un anno, devo farvi i miei complimenti per la trasparenza e la completezza delle informazioni che ho raccolto su questo forum.
Grazie alle intuizioni, tra le ultime la RZB 862, ho effettuato delle discrete operazioni con ottimi risultati, merito anche dell'intermediario di fiducia che mi segue con prontezza e professionalità.
Continuate così !
Cercherò in futuro di contribuire in modo efficace alla discussione.
sono nuovo come registrazione ma vi seguo da più di un anno, devo farvi i miei complimenti per la trasparenza e la completezza delle informazioni che ho raccolto su questo forum.
Grazie alle intuizioni, tra le ultime la RZB 862, ho effettuato delle discrete operazioni con ottimi risultati, merito anche dell'intermediario di fiducia che mi segue con prontezza e professionalità.
Continuate così !
Cercherò in futuro di contribuire in modo efficace alla discussione.
bulogna
Forumer storico
Benarrivato in questa sezione, chiunque porti il suo contributo piccolo o grande che sia è sempre il benvenuto.
The_Alchimist
Nuovo forumer
Mais78
BAWAG fan club
Hai ragione è un LT2ma allora S&P dormono????
Infatti anche io dal rendimento pensavo fosse UT2 pero' alla fine una LT2 assicurativa e' paragonabile ad una UT2 bancaria come termini
The_Alchimist
Nuovo forumer
su BBg il rating S&P è A: stesso rating, stessa call date 2020, rendimento simile (5.6%-5.9%). Qua diventa un discorso di preferenza tra i due emittenti e di prospetti.
A me personalmente non piacciono le emissioni lunghe (10y) con TF del 6%. Credo che ci sarà una botta inflattiva (anche se non nei prox 2-3 anni) e quindi queste emissioni potrebbero risentirne negativamente.
Meglio emissioni con TF dell'8%-9% e durate tra 3-8 anni max.
Poi con le nuove propose di Basilea T2 = T1 a quel punto meglio andare sui T1.....
Topgun1976
Guest
Condivisibile,Intanto ho trovato il Prospetto della Mps 5,6 % 2020 Lt2
A2 per Moody's Non Male x quel che vale- Stato