31-07-2010, 04:51
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#24126 (permalink)
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Utente Senior
Data registrazione: Apr 2009
Località: London
Messaggi: 5,703
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Citazione:
Originalmente inviato da Rottweiler
Qualche giorno fa è uscita questa previsione di tale Neil Callanan su di una pubblicazione finanziaria irlandese:
Neil Callanan - Expect Anglo to launch further debt buyback
Anglo Irish Bank is presumably working on a programme at the moment to buy back some of its subordinated debt before the government guarantee runs out, meaning that the bank could technically default on it if it wanted to. But with both the government and the bank unlikely to countenance such a move, now is the time to buy those bondholders out for a tuppence on the euro.
Anglo's previous debt buyback programme came too quickly and in hindsight the bank paid for too much to do it, particularly given the horrific scale of the losses we've seen since.
As Karl Whelan of UCD pointed out in May: "Given that none of Anglo's subordinated debt after nationalisation matured until 2014, and given that a plan for restructuring the bank was still being formulated and discussed with the EU Commission, last year's decision to repurchase €2.5bn of its subordinated debt last year for a price of €750m represented a terrible and pointless waste of taxpayer money. What was particularly unfortunate about it is that most of what was bought back was undated subordinated debt that didn't even manage to make it into the September 2008 liability guarantee."
Expect Anglo's management to launch the subordinated debt buyback in the coming weeks.
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speriamo si sbrighino a lnciare un bel buyback. io sto in attesa... |
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