cristian2008
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Questa Bnque intern a Luxembourg non doveva pagare la cedola il 6 Luglio oppure tratta flat ? Grazie XS0132253468
Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2 (17 lettori)
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Topgun1976
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Topgun1976
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Qlc si ricorda il nome di quel forum olandese?
Cmq la 155 e Reeal,la 523 è Bank potrebbero seguire strade diverse
Cmq la 155 e Reeal,la 523 è Bank potrebbero seguire strade diverse
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mavalà
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Topgun1976
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mavalà
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solovaloreaggiunto
Forumer storico
shares in SNS Reaal NV, a Dutch bank
and insurer struggling to wind down a money-losing real estate
loan unit while repaying state aid, dropped the most on record
after saying it may sell operations to strengthen capital.
SNS fell as much as 23 percent in Amsterdam trading, the
most since the shares started trading in 2006, and was down 21
percent to 98 cents as of 10:39 a.m. local time. The stock is
down 42 percent this year, cutting the company’s market value to
282 million euros ($344 million).
“SNS Reaal repeats that in line with its strategic
priorities it focuses on the run off of property finance loans
and the strengthening of its capital position,” the Utrecht,
Netherlands-based firm said in a statement today. “The sale of
parts of its business activities is one of the options that is
being explored.”
SNS hired Goldman Sachs Group Inc. to explore a sale of its
insurance units Reaal and Zwitserleven, Het Financieele Dagblad
reported earlier. The Dutch finance ministry hired Morgan
Stanley to study options for SNS as it may not meet a deadline
to repay aid before the end of 2013, the newspaper said.
Officials at SNS and the finance ministry declined to comment on
the report.
“Whether a sale of the insurance activities should be seen
as a positive, completely relies on the selling price,” ING
Groep NV analysts Maarten Altena and Albert Ploegh said in a
note today. “This, we consider difficult given the current
uncertainty, low interest rates and potential buyers knowing SNS
needs the capital.”
‘Very Difficult’
SNS Chief Executive Officer Ronald Latenstein in May
indicated a sale of insurance operations may not resolve the
firm’s capital issues.
“It is going to be very difficult to see something to be
sold at a price or valuation, given where insurance companies
are valued at this point in time, that is really going to help
us release sufficient or material amounts of capital,” he said
on an analyst call on May 15.
The company received 750 million euros from the Netherlands
in 2008 and 500 million euros from Foundation Beheer SNS Reaal,
its largest shareholder. SNS sold shares in 2009 to help repay
250 million euros of aid, of which 185 million euros was
returned to the government.
The company would have to raise 1.6 billion euros from the
sale to help repay its remaining state bailout and redeem debt
at the SNS Reaal holding level, the ING analysts and Rabobank
International analyst Cor Kluis said. That would leave it with
its debt to Foundation Beheer.
No Decision
“If there would be a well executable solution, SNS Reaal
would have already have done it, so there are no easy ways
out,” Kluis said in a note to clients. He cut his
recommendation on the stock to reduce from buy.
No decision has been made on which option to pursue, SNS
said in today’s statement. If SNS doesn’t repay its state
bailout before the end of 2013, the government will have to
report back to the European Union, potentially resulting in
additional restructuring demands.
SNS, which had 4.6 billion euros of outstanding loans,
excluding provisions, in the property finance unit at the end of
March, freed up about 87 percent of a targeted 700 million euros
in capital by the end of the first quarter. Those funds are
being prioritized to strengthen capital buffers before repaying
a 2008 government bailout, Latenstein said May 15.
and insurer struggling to wind down a money-losing real estate
loan unit while repaying state aid, dropped the most on record
after saying it may sell operations to strengthen capital.
SNS fell as much as 23 percent in Amsterdam trading, the
most since the shares started trading in 2006, and was down 21
percent to 98 cents as of 10:39 a.m. local time. The stock is
down 42 percent this year, cutting the company’s market value to
282 million euros ($344 million).
“SNS Reaal repeats that in line with its strategic
priorities it focuses on the run off of property finance loans
and the strengthening of its capital position,” the Utrecht,
Netherlands-based firm said in a statement today. “The sale of
parts of its business activities is one of the options that is
being explored.”
SNS hired Goldman Sachs Group Inc. to explore a sale of its
insurance units Reaal and Zwitserleven, Het Financieele Dagblad
reported earlier. The Dutch finance ministry hired Morgan
Stanley to study options for SNS as it may not meet a deadline
to repay aid before the end of 2013, the newspaper said.
Officials at SNS and the finance ministry declined to comment on
the report.
“Whether a sale of the insurance activities should be seen
as a positive, completely relies on the selling price,” ING
Groep NV analysts Maarten Altena and Albert Ploegh said in a
note today. “This, we consider difficult given the current
uncertainty, low interest rates and potential buyers knowing SNS
needs the capital.”
‘Very Difficult’
SNS Chief Executive Officer Ronald Latenstein in May
indicated a sale of insurance operations may not resolve the
firm’s capital issues.
“It is going to be very difficult to see something to be
sold at a price or valuation, given where insurance companies
are valued at this point in time, that is really going to help
us release sufficient or material amounts of capital,” he said
on an analyst call on May 15.
The company received 750 million euros from the Netherlands
in 2008 and 500 million euros from Foundation Beheer SNS Reaal,
its largest shareholder. SNS sold shares in 2009 to help repay
250 million euros of aid, of which 185 million euros was
returned to the government.
The company would have to raise 1.6 billion euros from the
sale to help repay its remaining state bailout and redeem debt
at the SNS Reaal holding level, the ING analysts and Rabobank
International analyst Cor Kluis said. That would leave it with
its debt to Foundation Beheer.
No Decision
“If there would be a well executable solution, SNS Reaal
would have already have done it, so there are no easy ways
out,” Kluis said in a note to clients. He cut his
recommendation on the stock to reduce from buy.
No decision has been made on which option to pursue, SNS
said in today’s statement. If SNS doesn’t repay its state
bailout before the end of 2013, the government will have to
report back to the European Union, potentially resulting in
additional restructuring demands.
SNS, which had 4.6 billion euros of outstanding loans,
excluding provisions, in the property finance unit at the end of
March, freed up about 87 percent of a targeted 700 million euros
in capital by the end of the first quarter. Those funds are
being prioritized to strengthen capital buffers before repaying
a 2008 government bailout, Latenstein said May 15.
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Ultima modifica:
Topgun1976
Guest
Tutte notizie già risapute,le uniche novità sono che sns ha assunto Gs come advisors,e lo stato Ms per seguire la vicenda.
Dove sono le novità?
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