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

[Reuters] Dubai lender ENBD's Tier 1 bond due Wednesday, sets guidance

[ENBD.DU HSBA.L ING.AS BAC.N MS.N DBKGn.DE] DUBAI, May 22 (Reuters) -
Emirates NBD <ENBD.DU>, Dubai's

largest lender, plans to price its first core capital-boosting

bond on Wednesday, arranging banks said, amid strong demand for

the imminent deal.

Price guidance for the perpetual bond, meaning it has no

fixed maturity date but cannot be redeemed before six years at

least, was set at 6 percent on Wednesday morning, after

indications of the low 6 percent area released on Tuesday.

[ID:nL6N0E2170]

There is a 50 cents rebate for private banks.

Banks in the Gulf are taking advantage of ample liquidity,

hence demand, for regional assets, to shore up capital ratios at

current cheap borrowing rates.

Healthy demand could allow the borrower to tighten price

guidance further ahead of launch. Arranging banks indicated

order books for the bond were over $4 billion in sales update

seen by Reuters.

Tier 1 capital is a lender's core capital as defined under

the Basel banking industry rules, and a key measure of its

financial strength. Gulf banks will need to comply with tighter

Basel III global standards for core capital, which will be

introduced gradually over coming years.

ENBD's Tier 1 solvency ratio stood at 13.5 percent of assets

at the end of March.

Bank of America Merrill Lynch <BAC.N>, Deutsche Bank

<DBKGn.DE>, HSBC Holdings <HSBA.L>, ING <ING.AS>, Morgan Stanley

<MS.N> as well as Emirates NBD's investment banking unit are

mandated arrangers on the bond.

Abu Dhabi Commercial Bank <ADCB.AD>, another UAE-based bank,

also expects to price a benchmark-sized subordinated bond on

Wednesday in a swift one-day deal to be arranged by Standard

Chartered. [ID:nL6N0E30YI]

(Reporting by Mala Pancholia and Rachna Uppal; Editing by

Dinesh Nair)

(([email protected])(+971 4 366 4240)(Reuters

Messaging: [email protected]))

Keywords: EMIRATES ENBD BOND/
 
Ho preso 50k generali 908 @89,5.

Nn per me.. Da cassettare.

Con la svalutazione della sterlina nn sembra male.
 
Grazie. Da ignorante direi che sembrano indirizzate verso 100 e se il clima pseudo-positivo permanesse potrebbe essere possibile. In quel caso uscirei totalmente dalla mia banca lombarda .

Se la situazione si normalizza potrebbero anche callarle a 100 :D, dopotutto euribor+6 non sarà più così difficile da sostituire, considerando che sono post call e che iniziano a contare meno per CT1.
 
Se la situazione si normalizza potrebbero anche callarle a 100 :D, dopotutto euribor+6 non sarà più così difficile da sostituire, considerando che sono post call e che iniziano a contare meno per CT1.

Per me è abbastanza facile una call se si normalizza il tutto.

Se L'eur poi dovesse salire la vedo ancora più probabile.
 

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