Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2 (11 lettori)

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Topgun1976 ha scritto:
Buy Santander 5,75% 72 Anche quest'anno Si stà tranquilli


Banco Santander, S.A. informs that it is envisaged to implement again the "Santander Dividendo Elección" program, on the dates on which the third interim dividend is traditionally paid. Thus, subject to the Executive Committee of Banco Santander's prior resolution, shareholders shall have the possibility to choose whether to receive cash or new shares on such dates. The envisaged timeline for the implementation of the "Santander Dividendo Elección" program is as follows [1]:

· 11 January 2013. Communication of the number of rights needed to receive one share and of the final price of the right-purchase commitment.

· 14 January 2013 (23:59 hours CET). Record date for the granting of rights.

· 15 January 2013. Commencement of the rights trading period. Santander shares start trading ex-coupon.

· 24 January 2013. Last date to request remuneration in cash (sale of rights to Grupo Santander).

· 29 January 2013. End of the trading period of the rights. Acquisition of rights by Grupo Santander from those shareholders who have requested cash.

· 1 February 2013. Payment of cash to shareholders who have so requested.

· 8 February 2013. Commencement of the ordinary trading of the new shares in the Spanish Stock Exchanges, subject to the granting of the relevant authorizations[2]. Shareholders who have opted for new shares have them delivered.

The gross price at which Grupo Santander shall irrevocably commit to purchase rights, which will be calculated pursuant to the formula approved by the Ordinary General Shareholders' Meeting, will be approximately 0.15 Euros per right.

Boadilla del Monte (Madrid), November 26, 2012
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Top, la cedola è trimestrale?:bow:
 
menta1

menta1

Hypo Alpe Adria
Xs0202259122 - de0006949555 Hypo Alpe

Arrivato Rating di Fitch AAA sul nuovo bond da 1 miliardo:

Fitch Ratings has assigned Hypo Alpe-Adria Bank International AG's (Hypo Alpe) EUR1bn government-guaranteed Tier 2 subordinated notes an expected rating of 'AAA(exp)'

Fitch rates Hypo Alpe-Adria Bank International notes
Published: Monday, 26 Nov 2012 | 11:54 AM ET Text Size

(The following statement was released by the rating agency)

Nov 26 - Fitch Ratings has assigned Hypo Alpe-Adria Bank International AG's (Hypo Alpe) EUR1bn government-guaranteed Tier 2 subordinated notes an expected rating of 'AAA(exp)'.

Fitch does not rate Hypo Alpe itself and the expected rating is entirely based on Fitch's expectation that the Republic of Austria ('AAA'/Stable) will honour the unconditional, unsubordinated and irrevocable guarantee provided to holders of the subordinated notes in a full and timely manner. As a result, the expected rating of the notes is in line with the sovereign rating of Austria.

According to the notes' draft documentation, the Republic of Austria guarantees the note holders the "due and punctual" payment of any and all amounts originally scheduled to be due and payable by Hypo Alpe under the subordinated notes. The guarantee for the notes has been issued under Austria's 2008 Financial Markets Stability Act (Finanzmarktstabilitaetsgesetz; FinStaG). Under the FinStaG, Austria can provide capital and funding support to Austrian banks up to a limit of EUR15bn. As of end-Q312, EUR12.2bn of this limit had been utilised, EUR4.1bn for participation capital and EUR8.1bn for various other capital or funding support measures.

The notes currently qualify as Lower Tier 2 capital under the Austrian Banking Act and Fitch understands that Hypo Alpe expects the notes to qualify as Tier 2 capital under the Basel III implementation in the European Union.

According to the draft guarantee, should the notes - for example due to regulatory or other developments such as statutory loss absorption under the EU Crisis Management Directive - bear losses by way of write-down or conversion to equity, the guarantor would guarantee continued and punctual payment of the originally scheduled interest and principal payment amounts.

RATING DRIVERS AND SENSITIVITIES The expected rating of the notes is sensitive to changes in Austria's sovereign rating and a downgrade of Austria's sovereign rating would lead to a downgrade of the subordinated notes.

In 2009, Hypo Alpe issued four government-guaranteed senior unsecured notes (totalling EUR1.35bn) under Austria's Interbank Market Support Act (Interbankmarktstaerkungsgesetz - IBSG). However, this programme expired at end-2010 and Hypo Alpe's final government-guaranteed senior unsecured note (EUR1bn; rated 'AAA'; XS0440690161) will mature in July 2013.

Hypo Alpe, a medium-sized Austrian bank with a strong presence in South Eastern Europe, has been 100% owned by the Republic of Austria since late 2009. In November 2012, Hypo Alpe started the privatisation process of its SEE subsidiaries.

In December 2011, the Austrian banking regulator (Finanzmarktaufsicht) announced that Hypo Alpe had to remedy a EUR1.5bn capital shortfall by end-2012.


Additional information is available at

. The ratings above were solicited by, or on behalf of, the issuer, and therefore, Fitch has been compensated for the provision of the ratings.

Applicable criteria, 'Global Financial Institutions Rating Criteria', dated 15 August 2012, are available at

.

Applicable Criteria and Related Research: Global Financial Institutions Rating Criteria


(New York Ratings Team)

((e-mail: [email protected]; Reuters Messaging: [email protected]; Tel:1-646-223-6330;))

(C) Reuters 2012. All rights reserved. Republication or redistribution of Reuters content, including by caching, framing or similar means, is expressly prohibited without the prior written consent of Reuters.

TEXT-Fitch rates Hypo Alpe-Adria Bank International notes - CNBC
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amorgos34

amorgos34

CHIAGNI & FOTTI SRL
Generali 888 in Sterline molto ben intonata;

Su Euronext c'è un tale che a 45,05 compra 750.000 Groupama 414 .


OT: forse (sono quasi sicuro...) dal SEF a Faliro ho imprecato (eufemismo) forte contro un utente-arbitro del forum..:bow:
Complimenti per il coraggio (altro che perpetuals) :up::up:
 
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