Obbligazioni perpetue e subordinate Tutto quello che avreste sempre voluto sapere sulle obbligazioni perpetue... - Cap. 3

[Rottweiler]

Domandona di inizio anno: se doveste crearvi, da zero, un portafoglio di subordinate con una prospettiva di 12 mesi, quali 10 titoli prendereste in considerazione e perché?

Vale ogni tipologia di subordinate: T2, T1 vintage, AT1 di emittenti industriali, bancari, assicurativi...

 

[ferdo]

Se allarghi la finestra a 24-36 mesi, delle irs

 

[PPF]

Recentemente ho inserito in portafoglio queste :

- ISP TV 06/22
- UBI 4,25% 05/26
- UNICREDIT TV 05/25

 

[mac]

Groupama FR0011896513 intorno a 91,5 per le buone prospettive sul titolo

SRLEV XS0616936372 intorno ai 107,5 per la solidità della struttura di controllo

Popular Capital DE0009190702 a 94 (il prezzi di oggi, infatti sono in acquisto).

 

[nik.sala]

Buy bp290 @ 94.25 (2 lotti)

 

[gionmorg]

Groupama FR0011896513 intorno a 91,5 per le buone prospettive sul titolo

SRLEV XS0616936372 intorno ai 107,5 per la solidità della struttura di controllo

Popular Capital DE0009190702 a 94 (il prezzi di oggi, infatti sono in acquisto).

Veramente su euronext si prende a 86

 

[Fabrib]

Se si pensasse favorevole il vento del cambio euro/dollaro, si potrebbero valutare i baby bonds:
Exchanged Traded Debt Issues - Alphabetical | The Yield Hunter

 

[fabriziof]

Se si pensasse favorevole il vento del cambio euro/dollaro, si potrebbero valutare i baby bonds:
Exchanged Traded Debt Issues - Alphabetical | The Yield Hunter

ma i baby bonds sono sub?

 

[Fabrib]

ma i baby bonds sono sub?

Exchange Traded Debt issues are also known as “Baby Bonds”

Exchange Traded Debt Securities are notes and bonds that are traded on the stock exchanges instead of the bond markets. Exchange Traded Debt mostly carries maturies of 30 years or more (although some are just 5-10 years). Most of these securities pay interest payments quarterly. Most exchange traded debt issues are ‘junior’ to the companys secured debt and senior to preferred and common shares.

Most of the issues are $25.00/share issues and generally are callable at $25.00 plus accrued interest 5 years from the date of issue.

Caution should be used when purchasing these debt securities when the 5 year first call date is approaching. In an environment of falling interest rates companies will be ‘refinancing’ as much debt as possible at lower interest rates. If you purchase at a price above $25 you will incur a capital loss if the issue is called.

Note that a good share of the exchange traded debt issues are investment grade issues. This makes these issues good issues to be considered by those that like preferred shares as they are very similar (except they are one step higher on the ‘claim’ ladder in a bankruptcy).

Note that the distributions on these securities are considered interest and thus are not eligible for the reduced qualified tax rate.

 

[fabriziof]

ma i baby bonds sono sub?

non sono sub
Virtually all other baby bonds are unsecured (meaning they are not backed by specific assets of the corporation). It is important to remember that they all are senior in liquidation prefererence (in event of bankruptcy) to common and preferred stock ownership.