Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2

[akis63]

AKIS, did you have or do you plan to buy greek bonds? the prices are really cheap...

No, no anything greek anymore.
I have a position in Greek shares and i am loosing 75% titanic just because i am not holding Greek banks. The looses for those are at 99,9%.
The only -risky- way to make money with greek securities is to take advantage of volatility and trade every day.

I am considering to buy a very small amount (nominal 10K) to ALPHA 3M2 -together with 40K to RZB 040- reinvesting BACA's funds, in the hope that ALPHA will proceed to a tender offer after its recapitalization following what NBG did already and thanks God gave me back some funds

 

[akis63]

The latest comments from greek internet financial sites are:

Political leaders: Basically, we agreed

Despite playing with words in which colleagues were served three leaders after the five-hour meeting at the "Maximos Mansion", all information is insisting that the agreement was reached on the key. And now, each team tries to manage the evolution of communication in order to realize political gains and limit losses.

Example, the "luck" of the 13th-14th salary. During his associates Antonis Samaras "rescued" and "remain unchanged" because of the persistence of the same. Shortly before midnight, however, the Ev. Venizelos handled the information that ... were rescued from yesterday, and thus the leader of ND katigage not any great victory. The Sygrou he returned the fire, noting that until the beginning of the meeting (and in length) associates Finance Minister had last week's firm position on the cut - or elimination of Easter-leave benefits or payment depending on the amount of monthly salary.

What resulted, which remained empty

The minimum wage is reduced by 20%. The Southwest insists that it relates to new recruits, but the question will be answered today.

The "aftereffect" deleted (ie the right not to reduce the collective agreement when half gone by the end of it). It remains to be clarified whether in respect of all or whether to exempt the salary and benefits that have been preserved (note the first case all wages could, in theory, to "fall" at the bottom.

Employer contributions are reduced by 5% in consistent (with payment) companies and the remaining 2%.

The subsidiary will be reduced by an average of 15% for amounts over 300 euros per month.

The objective property values ​​not rising. In this regard, Mr. Samaras argued that their increase would raise taxes about 16, but a factor of Maximus insists that this measure has been rejected for one week.

The income of approximately 3 billion would come from spending cuts and structural changes rather than new taxes. This means that the redundancies in the public "this time we do" with a minimum number within the year 15,000 employees.

The recapitalization of banks after the "haircut" would be a combination of instruments to ensure the public interest and business autonomy. And this issue has been solved, in fact, almost a week (the Troika) despite the insistence of Mr. Papandreou on "common voting" that would lead to immediate nationalization of institutions.

The Agreement will be given today by Lucas Papademos at the head of Troika and then after successfully closing the backlog will be validated (or not ...) the new Prime Minister's meeting with political leaders.

Karatzaferis Papandreou: No elections

Information George Karatzaferis want to set (and) yesterday fixed the request for postponement of the elections in reshuffle that will transform the current transitional government to "normal technocratic" a la Monty. But crashed in the "observation" Mr. Papademos that this issue did not concern the debate yesterday.

Shortly after the meeting, Hippocrates released a letter sent to Prime Minister George Papandreou on Saturday, a key request to extend the life of the government until 2013, ending the tenure of this House.

Samaras did not comment in this regard, but Syngrou Avenue has a message that he is discussing possibilities of postponing the elections.

What will happen in the House to vote on all these? Both in PASOK and New Democracy in the planned meetings of the parliamentary groups, where an effort to minimize possible negative votes.

Source: www.capital.gr
-------------------------------
My opinion is that Greece keeps its European orientation and stays in eurozone in exchange for more taxes, lower income and poverty, but a little hope for recovery.
Outside the eurozone, the path to recovery would be even more difficult.

 

[drbs315]

The latest comments from greek internet financial sites are:

Thanks for your very useful updates at this time!

 

[samantaao]

Ola secondo me le Isp sono le meno pompate del mercato,anzi sono nettamente indietro.Se mps vale 70 non può isp valere 81..

Detto questo nel breve tutto dipende dai Greci,e seguendo la faccenda non riesco veramente a capire dove si andrà a parare..

teniamo la isp d'occhio che quando è ora si esce

 

[samantaao]

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BANCO POPOLARE - Studia il riacquisto di bond propri

Websim - 06/02/2012 08:17:00



Secondo alcune fonti vicino alla società, Banco Popolare (BP.MI) avrebbe pronto un piano per il riacquisto di obbligazioni proprie. L'operazione simile a quella già annunciata da Unicredit avrebbe il fine di riacquistare proprie obbligazioni sotto il valore nominale, comportando una plusvalenza che permetterebbe così di migliorare il Core Tier I rispondendo così alle richieste dell'Eba (l'authority bancaria europea) che chiede un rinforzamento degli indici di solidità patrimoniale.
Secondo gli analisti Banco Popolare potrebbe offrire un premio di circa il 20% sui Tier 1 e del 10% sui Tier 2.

 

[samantaao]

20% e 10% rispetto a quando?
secondo me il bp sta incpazato nero con le quotazioni che si alzano a causa di queste notizie e finsce che fanno una tender al prezzo di mercato
stiamo a vedere

 

[solovaloreaggiunto]

BP lancia tender offer uscita ora la news!!!

 

[drbs315]

*B.POPOLARE: INVITA PORTATORI BOND TIER 1 E 2 A VENDERE TITOLI A BANCA

(segue)

MF-DJ NEWS 06/02/2012 08:41

*B.POPOLARE: PORTATORI BOND TIER 1 E 2 VENDERANNO TITOLI A PREZZO ACQUISTO

(fine)

MF-DJ NEWS 06/02/2012 08:42


*B.POPOLARE: INVITO ACQUISTO TERMINA IL 15/2

(fine)

MF-DJ NEWS 06/02/2012 08:43

Se è quello che si intuisce è una robaccia, o sbaglio?

 

[nik.sala]

Opa

Italease a 43
BP 290 a 70
BP 373 a 71
LODI 512 a 78
più le altre sub lt2
___________________
BANCO POPOLARE - Banco Popolare announces an invitation to holders of Tier 1 and Tier 2 instruments issued by the Group to submit offers to sell their securities

Reuters - 06/02/2012 08:46:06

To view the document in .PDF format, click on: http://[email protected]:[email protected]/Public/93427_BIA06d63_10627313.pdf

NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN OR AT ANY ADDRESS IN THE
UNITED STATES OF AMERICA OR TO ANY U.S. PERSON OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS DOCUMENT

P R E S S R E L E A S E

Banco Popolare announcesan invitation

to holders of Tier 1 and Tier 2

instruments issued by the Group to

submit offers to sell their securities

Verona,6 February 2012 % D Q F R 3 R S R O D U H W K H Purchaser D Q Q R Xnced today an
invitation to holders Holders of the following Tier 1 and Tier 2 instruments
issued by the Group (together, W K H Securities W R submit offers to sel their
Securities to the Purchaser for cash at the Purchase Price W K H Invitation :

Purchase
Price (as a
Outstanding Principal/ percentag
principal or liquidation e of the
Description of the Securities liquidation ISIN preference principal /
preference
amount (1) amount per liquidation
Security preference
amount)
(6)

Perpetual Step-UpSubordinated Fixed/Floating Rate Notes
issued by Banco Popolare Soc. Coop. (formerly Banco 269,050,000 XS0304963290 70.0
Popolare di Verona e Novara S.c.a r.l.)

Perpetual Non Step-UpSubordinated Fixed/Floating Rate
Notes issued by Banco Popolare Soc. Coop. (formerly Banco 278,550,000 XS0304963373 71.0
Popolare di Verona e Novara S.c.a r.l.)

Non-cumulative Guaranteed FloatingRate Perpetual Trust
Preferred Securities issued by Banca Italease Capital Trust (2) 145,000,000 XS0255673070 4) 43.0
(the Banca Italease Preferred Securities ) (5)

Non-cumulative GuaranteedFixed/Floating Rate Perpetual
Trust Preferred Securities issued by Banca Popolare di Lodi 486,979,000
Investor Trust III (3) (the Banca Popolare di Lodi XS0223454512 78.0
Preferred Securities ) (5)

Lower Tier II Subordinated Callable Floating Rate Notes due 76,476,000
June 2016 issued by Banca Italease S.p.A. XS0259400918 4)75.0

Lower Tier II Subordinated Callable Step-up Floating Rate
Notes due June 2016 issued by Banco Popolare Soc. Coop. 235,400,000 XS0256368050 78.0
(formerly Banco Popolare di Verona e Novara S.c.ar.l.)
COMUNICAZIONE E RELAZIONI ESTERNE Rapporti con i media Tel. +39-045-8675048/867/120/121 [email protected]
INVESTOR RELATIONS Tel. +39-045-8675537 [email protected] Banco Popolare - Home Page (IR section)
NOT FOR DISTRIBUTION IN OR INTO, OR TO ANY PERSON LOCATED OR RESIDENT IN OR AT ANY ADDRESS IN THE
UNITED STATES OF AMERICA OR TO ANY U.S. PERSON OR INTO ANY JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS DOCUMENT

Purchase
Price (as a
Outstanding Principal/ percentag
principal or liquidation e of the
Description of theSecurities liquidation ISIN preference principal /
preference liquidation
amount (1) amount per
Security preference
amount)
(6)

Lower Tier II Subordinated Callable Step-up Floating Rate
Notes due November 2016 issued by issued by Banco 168,350,000
Popolare Soc. Coop. (formerly Banco Popolare di Verona e XS0276033510 78.0
Novara S.c.a r.l.)

Lower Tier II Subordinated CallableStep-Up Floating Rate
Notes due February 2017 issued by Banco Popolare Soc. 180,800,000 XS0284945135 76.0
Coop. (formerly Banco Popolare di Verona e Novara S.c.a r.l.)

Lower Tier 2 Subordinated 5.473per cent. Fixed Rate Notes 318,400,000 4)
due November 2016 issued by Banco Popolare Soc. Coop. XS0464464964 89.0

Lower Tier II 6.00% Subordinated Notes due November2020 949,750,000 4)
issued by Banco Popolare Soc. Coop. XS0555834984 91.0

Lower Tier II Subordinated 6.375% Fixed Rate Notes due May 2021 issued by Banco Popolare Soc. Coop. 600,391,000 XS0632503412 4) 90.5

Upper Tier II 4.625% Subordinated Instruments due March
2015 issued by Banco Popolare Soc. Coop. (formerly Banca 298,324,000
Popolare di Lodi S.c. a.r.l.) XS0215451559 90.0

 

[gionmorg]

Offerta inferiore al mio pmc, parlo della lodi, quindi me la tengo.