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

[dierre]

qualcuno qui terrà le bawag?

sono moolto indeciso

Sei in compagnia allora...

 

[steff]

Sei in compagnia allora...

Per quanto mi riguarda sulla 966 ho deciso di aderire, avendo un pmc di 14,6 .
La sorella TV lo venduta al mercato a 69,5. pmc a 58,5.

 

[discipline]

Si avvicina il momento del dunque:
Republic of Austria and Volksbanks boost VBAG


27.02.2012
Volksbanks still a reliable partner for small and medium-sized Austrian companies


The Republic of Austria and the Volksbanks have reached an agreement on a sustainable solution to stabilise Österreichische Volksbanken-AG (VBAG). Following advance preparation by VBAG (recently the sale of Volksbank International) and assumptions of liability by the Volksbanks, the Republic of Austria and the Volksbanks have now taken the next step. The capital of VBAG will be reduced by up to 70%. VBAG’s other owners (DZ Bank, Ergo Versicherung AG and RZB AG) have also approved this capital reduction effective 31 December 2011. At the same time, the Republic of Austria and the Volksbanks will perform a capital increase of €480 million in total.
The objective and purpose of the agreed measures is the reorganisation and transformation VBAG into a sustainable cooperative bank in accordance with section 30a of the Austrian Banking Act (BWG). VBAG’s CEO Gerald Wenzel said: “After three difficult years of redevelopment, we have today created the platform for a sustainable and stable future for VBAG. As VBAG’s liquidity situation had already been significantly improved by the sale of VBI, its capital situation will now also be given a shot in the arm.”
The other joint owners (DZ Bank, ERGO Insurance Group, RZB AG) will support the new model with appropriate measures. In order to strengthen VBAG’s capital ratios, RZB will ensure its best efforts in order to assist VBAG in its disposal of shares held in RZB and in any case guarantees to implement adequate measures that will improve capital ratios and liquidity at VBAG.
The new model was approved by a majority of Volksbanks today.
Volksbanks to remain as a reliable partner
Hans Hofinger, Head of the Association of Volksbanks, said: “By approving these measures, the 62 Volksbanks are remaining true to their economic responsibility and will continue to be a reliable and stable partner for small and medium-sized Austrian companies and retail customers.” The Volksbanks have one million customers in Austria, with one in four small and medium-sized enterprises utilising their services; the Volksbanks provide around €32 billion in finance for Austria’s economy.

 

[no perpetual no party]

Qualcuno dei Forumisti ha letto il prospetto di questa NATIXIS 9% in dollari con call 16 aprile 2013 che si dovrebbe comprare intorno a 85 (FR0010607747)?

ciao obso
l'avevo vista anch'io, post call invariato...
ma con bim non c'erano prz operativi..
(provato circa un mese fa)

 

[bia06]

già....per prendere cosa?

Io tengo 1/3 del nominale, il resto l'ho dato in opa. Mi tengo il biglietto per la call ma intanto realizzo una buona parte dei gains.

 

[akis63]

XS0207764712 eseguito in acquisto a 46,01
ringrazio per la segnalazione dei volumi , sono entrato abbastanza pesante , vediamo se ne esce qualcosa di positivo...

lettere iwb

[FONT=&quot]FR0010128835 43,5 operativa
[/FONT][FONT=&quot]XS0207764712[/FONT] 47
[FONT=&quot]FR0010101949 45[/FONT]

Appena acquistate le BFCM 712 lett 46 poi 47 eseguite.

Questo ticket mi e' costato piu' di quanto avessi preventivato, piu' di Cris.
Ma non importa, andiamo a vedere le carte...(intanto i volumi ci sono),
hai visto mai che le francesi inizino un'altro giro di OPA...

Do you think that a tender is coming?

 

[obsoleto]

Oggi comprato XS0099124793 KBC eur3m+300bp a 55 (mm Morgan Stanley)

 

[steff]

Do you think that a tender is coming?

I am hopeful... to read it in next days.

 

[mavalà]

Oggi comprato XS0099124793 KBC eur3m+300bp a 55 (mm Morgan Stanley)

mi fate incazz.....:
com'è che in due banche diverse non riesco a prenderle da 2 settimane ?
anche oggi mi hanno dato l'ineseguito per 50k a 56 !!!

 

[Cat XL]

Devo dire che sono sorpreso

Banco Popolare Societa Cooperativa Hybrid Tier 1 Securities Downgraded To 'B-' On Risk Of Coupon Payment Deferral

Publication date: 27-Feb-2012 17:45:21 GMT


View Analyst Contact Information

• On Feb. 15, 2012, Italy-based Banco Popolare Societa Cooperativa SCRL (Banco Popolare) completed its buyback offers to holders of Tier 1 and Tier 2 instruments.
• We consider these offers to be "opportunistic," as defined by our criteria.
• We also believe the risk the bank might defer its coupon payment on Tier 1 hybrid debt in the future has increased.
• As a result, we are lowering the rating on the hybrid Tier 1 debt to 'B-' from 'B'. We are removing the rating on the hybrids from CreditWatch with negative implications.

LONDON (Standard & Poor's) Feb. 27, 2012--Standard & Poor's Ratings Services today said that it has lowered its issue rating on the Hybrid Tier 1 debt issued by Italy-based Banco Popolare Societa Cooperativa SCRL (Banco Popolare; BBB-/Negative/A-3) to 'B-' from 'B'. At the same time, we removed the rating from CreditWatch with negative implications, where we placed it on Dec. 7, 2011.The downgrade of the hybrid instruments is based on our view of the increased risk that Banco Popolare could defer its hybrid coupon payments in the future. This reflects our assessment of the bank's modest earning capacity, owing to the current weak economic environment, and the increased pressure on its capital after the European Banking Authority (EBA) determined a potential €2.8 billion capital shortfall in its stress test for Banco Popolare, published on Dec. 8, 2011. On Feb. 15, 2012, Banco Popolare completed its buyback offers to holders of Tier 1 and Tier 2 instruments. This offer is part of the capital strengthening actions the bank is carrying out to meet the EBA requirement of a 9% core Tier 1 ratio by June 2012. Following our review of the terms and conditions of the offer and the recent amounts bought back by Banco Popolare, we consider this offer to be "opportunistic," under our hybrid criteria (see "Rating Implications Of Exchange Offers And Similar Restructurings, Update," published May 12, 2009, on RatingsDirect on the Global Credit Portal). According to our criteria, we consider an offer to be "opportunistic" when a issuer offers to exchange bonds for below par where changes in market interest rates, other technicalities, or market developments have caused its bonds to trade at a discount. We believe such an offer has no credit implications for the issuer. In our view, the impact of the offer on the bank's core Tier 1 ratio will be limited.