Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 2 (47 lettori)
- Creatore Discussione caligola2005
- Data di Inizio
- Stato
bosmeld
Forumer storico
banca nordica...
certo é incredibile, sogen ha fatto un offerta da fame, paragonata a questa per esempio.
fino adesso il top lo ha fatto van lanschot. ha opato il cms a 75 se non sbaglio.
qui cmq stanno fioccando le offerte. unicredit che vuoi fare? ti sbrighi?
sono curioso di vedere in quanti aderiranno
Ultima modifica:
Zorba
Bos 4 Mod
Tirchi.
Cmq hanno offerto 80 per la XS0449487619 che rende il 9.375%. Per me l'equivalente di UCG non vale meno della SG. (il che non esclude che nessuna delle due valga 80)
Zorba
Bos 4 Mod
Mi posti pf la notizia completa?
Cat XL
Shizuka Minamoto
Devono renderele appetibili (+50% sul prezzo corrente) anche con eventuale scambio azionario. Secondo me raccolgono pochissimo.
bosmeld
Forumer storico
stiamo a vedere. dipende dal mercato. se settimana prossima il btp tornasse sopra il 7% e la francia allargasse farebbero il pieno
ormai siamo in un mercato pazzerello.
cmq sono stati effettivamente dal braccino troppo corto.
in francia é rimasto solo agricole e mutuel a questo punto per eventuali ope.
gli italiani per ora dormono....
Ultima modifica:
stordits
Forumer attivo
eccola
Comuqnue fanno bene le banche a provarci!!!!!!! Chi ha paura puo' dargliele
E comunque l'anno cruciale sara' l'anno prossimo, il 2012, ossia alla vigilia di Baisela 3:
SE RIESCONO A METTERE UNA PEZZA AI DEBITI SOVRANI, CI SARA' IL CINEMA ED A PREZZI MOLTO SUPERIORI
Comuqnue fanno bene le banche a provarci!!!!!!! Chi ha paura puo' dargliele
E comunque l'anno cruciale sara' l'anno prossimo, il 2012, ossia alla vigilia di Baisela 3:
SE RIESCONO A METTERE UNA PEZZA AI DEBITI SOVRANI, CI SARA' IL CINEMA ED A PREZZI MOLTO SUPERIORI
BIONDO
non sparo
stordits
Forumer attivo
In francia ci sono le assicurazioni
mi aspetto qualche notizia da axa e cnp (groupama sarebbe troppo)
mi aspetto qualche notizia da axa e cnp (groupama sarebbe troppo)
solovaloreaggiunto
Forumer storico
SocGen, Santander Lead $30 Billion Bond Tenders to Boost Capital
2011-11-18 12:11:26.920 GMT
Nov. 18 (Bloomberg) -- Societe Generale SA and Banco
Santander SA are among banks offering to buy back or exchange
part of about $30 billion of junior debt issuance to boost
capital and raise money as borrowing costs rise.
The bond tenders that started in Europe this week allow the
banks to repurchase subordinated notes at a discount, booking a
capital gain, or swap the securities to raise senior debt.
Others pursuing the strategy include BNP Paribas SA, France’s
biggest bank, and Northern Rock Asset Management Plc, the so-
called bad bank spun off from the lender being purchased by
Richard Branson’s Virgin Money Holdings U.K. Ltd.
“Banks are killing two birds with one stone,” said Pilar
Gomez-Bravo, a senior adviser at Negentropy Capital in London,
which oversees about 200 million euros ($271 million) of
securities. They’re “generating a capital gain, while at the
same time accessing senior funding markets, in some cases
significantly below current market rates,” she said.
European banks will need to increase their buffer against
losses, or capital, by 106 billion euros under tougher rules
being introduced by the European Banking Authority to counter
the economic crisis. The tenders are also a useful funding tool
after the extra yield investors demand to hold senior bank bonds
instead of benchmark government debt jumped by 90 percent since
mid-year.
Discount Price
SocGen offered to repurchase as much as 900 million euros
of a total $8.2 billion of Tier 1 notes today, at prices
starting at 56 percent of face value. Banco Santander, the
biggest Spanish lender, asked holders of 6.8 billion euros of
subordinated bonds to swap their securities for new senior notes
on Nov. 15.
BNP Paribas, France’s largest bank, offered to exchange or
repurchase part of about $10 billion of subordinated bond
issuance yesterday for as little as 72.5 cents on the dollar,
according to a series of statements. SNS Bank BV of the
Netherlands announced a tender of Lower Tier 2 notes yesterday,
while nationalized U.K. bank Bradford & Bingley Plc is also
tendering for debt.
Senior European bank bond spreads widened to 365 basis
points more than German bunds, from 192 basis points on June 17,
according to Bank of America Merrill Lynch’s EUR Corporates,
Banking index. A basis point is 0.01 percentage point.
“Banks are currently taking advantage of poor liquidity in
the market to buy back, or more often exchange, redundant
capital instruments on very attractive terms for the issuer,”
said Mark Harmer, an analyst at ING Groep NV in Amsterdam.
“It’s definitely a growing trend, especially where traditional
access to senior funding channels is limited.”
2011-11-18 12:11:26.920 GMT
Nov. 18 (Bloomberg) -- Societe Generale SA and Banco
Santander SA are among banks offering to buy back or exchange
part of about $30 billion of junior debt issuance to boost
capital and raise money as borrowing costs rise.
The bond tenders that started in Europe this week allow the
banks to repurchase subordinated notes at a discount, booking a
capital gain, or swap the securities to raise senior debt.
Others pursuing the strategy include BNP Paribas SA, France’s
biggest bank, and Northern Rock Asset Management Plc, the so-
called bad bank spun off from the lender being purchased by
Richard Branson’s Virgin Money Holdings U.K. Ltd.
“Banks are killing two birds with one stone,” said Pilar
Gomez-Bravo, a senior adviser at Negentropy Capital in London,
which oversees about 200 million euros ($271 million) of
securities. They’re “generating a capital gain, while at the
same time accessing senior funding markets, in some cases
significantly below current market rates,” she said.
European banks will need to increase their buffer against
losses, or capital, by 106 billion euros under tougher rules
being introduced by the European Banking Authority to counter
the economic crisis. The tenders are also a useful funding tool
after the extra yield investors demand to hold senior bank bonds
instead of benchmark government debt jumped by 90 percent since
mid-year.
Discount Price
SocGen offered to repurchase as much as 900 million euros
of a total $8.2 billion of Tier 1 notes today, at prices
starting at 56 percent of face value. Banco Santander, the
biggest Spanish lender, asked holders of 6.8 billion euros of
subordinated bonds to swap their securities for new senior notes
on Nov. 15.
BNP Paribas, France’s largest bank, offered to exchange or
repurchase part of about $10 billion of subordinated bond
issuance yesterday for as little as 72.5 cents on the dollar,
according to a series of statements. SNS Bank BV of the
Netherlands announced a tender of Lower Tier 2 notes yesterday,
while nationalized U.K. bank Bradford & Bingley Plc is also
tendering for debt.
Senior European bank bond spreads widened to 365 basis
points more than German bunds, from 192 basis points on June 17,
according to Bank of America Merrill Lynch’s EUR Corporates,
Banking index. A basis point is 0.01 percentage point.
“Banks are currently taking advantage of poor liquidity in
the market to buy back, or more often exchange, redundant
capital instruments on very attractive terms for the issuer,”
said Mark Harmer, an analyst at ING Groep NV in Amsterdam.
“It’s definitely a growing trend, especially where traditional
access to senior funding channels is limited.”
- Stato