Obbligazioni societarie HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2

[gionmorg]

Nuovo capitolo del thread

HIGH YIELD e oltre, verso frontiere inesplorate - Vol. 2​

Si proviene dal Capitolo 1 che trovate qui https://www.investireoggi.it/forums...ltre-verso-frontiere-inesplorate-vol-1.64287/
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ormai se vuoi qualche cosa di discreto è solo taglio 100. che non capisco perchè un importo così alto. . i $ sono quasi sempre taglio 2, che forse è poco, il CHF sono di solito 5k, che secondo me è un taglio giusto

che significa esattamente: i $ sono quasi sempre taglio 2, che forse è poco
Ancorché taglio 2k, ne puoi sempre acquistare 1 mln....

ps, a proposito di tagli, 5000 pagine di HY, bel traguardo ragazzi

 

[gionmorg]

Sep. 26, 2017 11:14 AM ET|About: Windstream Holdings, Inc. (WIN)|By: Jason Aycock, SA News Editor
Windstream Holdings (NASDAQ:WIN) is off 5.6% after receiving a notice of default from a large noteholder over transactions around the spin-off of its REIT unit Communications Sales & Leasing.
The notice -- from a holder claiming more than 25% of the 6.375% senior notes due 2023 (Bloomberg says that's Aurelius Capital Management) -- alleges that asset transfers and associated leases in April 2015 were essentially a sale-and-leaseback transaction.
That doesn't comply with the covenants covering sale and leaseback, the noteholder says.
Windstream denies that the transactions are a sale-leaseback.

Moody's says Windstream's noteholder claim notice raises uncertainty, ratings unchanged at B1 negative

Global Credit Research - 26 Sep 2017
New York, September 26, 2017 -- Moody's Investors Service, ("Moody's") said that Windstream Services, LLC ("Windstream" or "the Company") announcement that it received a notice of default from an unsecured creditor raises uncertainty around Windstream's ability to access the capital markets, which could threaten its liquidity. However, because the company has no near term maturities and the outcome of the notice is uncertain, Moody's has not changed Windstream's B1 corporate family rating (CFR). The outlook remains negative.



Windstream announced yesterday that a holder of at least 25% of the company's 6 3/8% senior notes due 2023 has alleged the Company violated the terms of the indenture governing the notes and that an event of default has occurred. The notice alleges the violation occurred as part of Windstream's spinoff of assets to Communications Sales & Leasing, Inc. (now known as Uniti Group, Inc. "Uniti") in April of 2015. Moody's views this disclosure as a negative event that raises uncertainty around Windstream and which could further impede Windstream's ability to access the capital markets. If the issue is not resolved quickly and in favor of the company, Windstream could encounter difficulties accessing funds to refinance its debt maturities, most notably the company's revolving credit facility and term loan B-6 which, under certain circumstances, both mature in April of 2020.



Moody's believes that Windstream's limited financial flexibility exposes it to a potential deterioration of liquidity if the issue drags on for a prolonged period, especially if negative market forces continue to be amplified by the disclosure of the notice of alleged default. This uncertainty, combined with Windstream's weak operating results, adds more downward pressure on Windstream's B1 CFR. Moody's could lower Windstream's rating if the company's liquidity deteriorates and it is not able to meet 18 months of cash requirements with its committed liquidity (i.e. cash or available bank line). In addition, Moody's could downgrade Windstream if its operating trends remain weak, if leverage (Moody's adjusted) remains above 5.25x or free cash flow is negative on a sustained basis. Based on results through the second quarter, Moody's estimates Windstream's leverage (pro forma for acquisitions, but excluding synergies) will be around 5.1x (Moody's adjusted) at year end 2017.

 

[fabriziof]

che significa esattamente: i $ sono quasi sempre taglio 2, che forse è poco
Ancorché taglio 2k, ne puoi sempre acquistare 1 mln....

ps, a proposito di tagli, 5000 pagine di HY, bel traguardo ragazzi

secondo me sono anche di più ,quando quebec era moderatore deve aver pasticciato con il 3d ritagliandolo ,di certo la prima pagina non era quella attuale ,dal titolo poi è scomparso il riferimento a Yioula. comunque un bel traguardo

 

[salice02]

il dipartimento del commercio USA sta valutando se imporre una tassa (219%) sugli aerei Bombardier, per via dei sussidi ricevuti dal governo canadese. dicono che è concorrenza sleale. la BOING aveva protestato per via del prezzo basso con cui Bombardier vende alle compagnie USA. La DELTA ne aveva ordinati 125. se passa la Bombardier prende una bella stecca.

Qui c'è lo zampino di The Donald

 

[iguanito]

Segnalo un bond in chf CH0323874260 6% 2020 (poco sopra la pari). Swiss merchant group, il solito fondo d'investimento svizzero. Il bond credo sia secured ed ha taglio 1k. Visto il cambio ad oggi favorevole potrebbe essere una opportunità

 

[fabriziof]

Segnalo un bond in chf CH0323874260 6% 2020 (poco sopra la pari). Swiss merchant group, il solito fondo d'investimento svizzero. Il bond credo sia secured ed ha taglio 1k. Visto il cambio ad oggi favorevole potrebbe essere una opportunità

sulle cedole di imprese autoctone svizzere credoci sia la doppia tassazione

 

[iguanito]

sulle cedole di imprese autoctone svizzere credoci sia la doppia tassazione

Tu avevi alpiq se non ricordo male. C'era la doppia tassazione?

 

[fabriziof]

Tu avevi alpiq se non ricordo male. C'era la doppia tassazione?

per quella non ricordo ,lo ricordo per meyer burger ,con credit suisse mi hanno spiegato che era dovuta ,poi magari sbagliavano loro ...

 

[fedro10]

Ultime emissioni –

 

[bia06]

Emissione odierna

*** Geo Energy (144A/REG S) US$ 5NC3 – IPG 8.75% AREA ***
ISSUER : Geo Coal International Pte. Ltd.
GUARANTORS : Geo Energy Resources Limited (“GER”) and certain of its subsidiaries as of the issue date
ISSUER RATINGS: B+ / Stable (Fitch); B / Stable (S&P); B2 / Stable (Moody’s)
EXP ISSUE RATINGS: B+ (Fitch); B (S&P); B2 (Moody’s)
FORMAT: Regulation S / Rule 144A
STATUS: Fixed Rate Senior Notes
SIZE: Benchmark
TENOR: 5NC3
IPG: 8.75% area
USE OF PROCEEDS: Refinancing, potential acquisitions of coal mining assets, working capital and general corporate purposes
COVENANTS: Standard Asian USD high yield covenant package, including:
· FCCR ≥3.00x AND
· Consolidated Debt to Consolidated EBITDA ≤3.50x
CHANGE OF CONTROL: Change of Control put at 101% plus accrued and unpaid interest
MANDATORY
OFFER TO PURCHASE: Put at 100% plus accrued and unpaid interest at year 3.5, unless certain conditions are met (refer to the Preliminary Offering Memorandum for additional details)
TERMS: SGX-ST listing; US$200k/1k denoms; New York law
JOINT BOOKRUNNERS: J.P. Morgan, Deutsche Bank, CITIC CLSA Securities and BOC International
NETROADSHOW: GEG2017
FCA/ICMA stabilization applies.