The Irish Times - Wednesday, February 3, 2010
Bank of Ireland to exchange €2.9bn of lower tier 2 notes
http://www.irishtimes.com/newspaper/finance/2010/...224263654931.html
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The Irish Times - Wednesday, February 3, 2010
Bank of Ireland to exchange €2.9bn of lower tier 2 notes
http://www.irishtimes.com/newspaper/finance/2010/...224263654931.html
Bank of Ireland to Swap $2 Billion of Junior Notes
December 08, 2010, 12:28 PM EST
Dec. 8 (Bloomberg) -- Bank of Ireland Plc, the nation’s biggest lender, offered to swap subordinated bonds at a premium to the market rate as it seeks to bolster its capital.
The bank will exchange as much as 1.5 billion ($2 billion) euros of its lower Tier 2 bonds for new, 6.75 percent state- guaranteed notes in euros and pounds due 2012, according to a statement. The tenders will be at 46 percent to 57.5 percent of face value, a capital gain of as much as 450 million euros to go toward the 2.2 billion euros being demanded by regulators.
Ireland is preparing legislation to force subordinated bondholders to “share the burden” of bailouts with taxpayers. Lenders in distress including Lloyds Banking Group Plc have used buybacks to raise capital, and Anglo Irish Bank Plc offered 20 cents on the euro for its subordinated debt.
“As it stands, there is no real ‘stick’ being used to entice bondholder participation,” Glas Securities Ltd. analysts in Dublin said in a note today. “The details of the legislative changes next week could encourage higher participation.”
The Dublin-based bank is tendering for nine securities in total, according to the statement.
It’s offering 51 cents on the euro for the 420 million euros of 4.625 percent notes due 2019 still outstanding, which rose to 48.33 cents today from 44.75 cents yesterday, Bloomberg composite prices show. It will pay 48 cents for its 158 million euros of floating-rate notes due 2017, securities quoted at 44 cents today.
Bank of Ireland will pay as little as 46 cents on the euro for its $327 million of floating-rate notes due 2017 and callable in 2013. These rose 4.75 cents today to 42.25 cents, composite prices on Bloomberg show.
“It will come as some relief to investors that a coercive, more penal approach has not been adopted,” according to Glas. Bank of Ireland will still need as much as 1.8 billion euros of capital after the exchange, meaning “more self-help capital will be required if avoidance of majority government ownership is still an objective.
http://www.businessweek.com/news/2010-12-08/...n-of-junior-notes.html
Andrea Kramer (akramer@sir-inc.com)
Bank of Ireland (IRE) was bombarded by options players on Tuesday, as the Irish parliament voted on the government's austerity budget. Yesterday afternoon, Irish Finance Minister Brian Lenihan unveiled the country's toughest budget on record, which calls for EUR6 billion in spending cuts and tax increases across all income brackets. This morning, the European Union Commission applauded the new budget, calling it "tough and ambitious."
By Tuesday's closing bell, IRE had seen about 16,000 calls change hands – roughly four times the expected daily call volume. Most popular was the December 3 call, which saw around 3,600 contracts exchanged – 74% of which traded at the ask price, suggesting they were bought. Furthermore, the December 3 strike saw call open interest swell overnight, pointing to freshly opened optimistic positions.
Meanwhile, IRE saw roughly 12,000 puts exchanged yesterday, more than eight times the equity's predicted single-session put activity. A healthy portion of the volume centered on the January 3.98 put, which saw more than 2,900 contracts change hands. However, the majority of the back-month puts traded at the bid price, and put open interest ballooned overnight, hinting at sell-to-open activity. By writing the 3.98-strike puts to open, the sellers are betting IRE will surmount the strike by the time January-dated options expire.
At last check, the shares of IRE have continued their recent rally, tacking on 2.3% to flirt with the $2.70 level.
http://www.schaeffersresearch.com/marketcenters/...ult.aspx?ID=103903
zur AIB die News hier: http://www.independent.ie/business/irish/...new-strategy-2450549.html
News ist schon 2 Tage alt, aber zusammen mit der Flowers Ankündigung waren dies die einigen News. Es ist nachvollziehbar, dass wenn die AIB verspätet ihre KE in 2011 durchführt zu 0,5€, die möglichst viele Investoren haben möchte, da den Rest ansonsten der irish. Pensionsfund zeichnet u. somit der Staatsanteil immer größer wird. Laut Schätzungen bei der AIB 95-99,9%. Es gibt sicher ein Interesse die KE attraktiv zu machen und somit den Kurs über 0,5 die nächsten Wochen zu plazieren.
Dass dieser Aufwind der BOI gut tut, versteht sich von selbst. Auch wenn hier von den verbleibenden 1,6Mrd. bei der BOI im worst case Szenario eine KE durchgeführt werden wird in März/April 2011, möchte man dort auch mehr Geld einsammeln und dies lieber zu Preisen 0,5-0,6€ als zu 0,3-0,4€. Somit denke ich wird der Markt sich zwar seine Meinung bilden aber die Kräfte hinter dem Markt werden den Kurs dahin taxen wo sie in haben wollen. Private Investoren wie JCFlowers möchten natürlich günstig rein (bzw. verhandeln direkt mit der jew. Bank), daher kann es in den nächsten Tagen und Wochen schon mal turbulent zugehen, so lange alles über 0,4€-Kursen stattfindet soll es mir recht sein.. Greetz..
After Hours: 2.88 l.yimg.com/a/i/us/fi/03rd/up_g.gif" style="max-width:560px" /> 0.06 (2.13%) 7:58PM EST
2,88 US-Dollar = 2,16378663 Euro :4 = 0,5409466575 Euro
Analysts Are Completely Wrong About These Stocks
The Bank of Ireland is fine, the EU has given the Bank of Ireland and [Allied Irish Banks] the tools to move on. If you think the Irish People are going to give up on their bank you may need to move on to another area of business. [Bank of Ireland] and [Allied Irish Banks] will be huge winners in the end. Continue to invest....
http://www.fool.com/investing/general/2010/12/08/...these-stocks.aspx
Ich frage mich mit welchen schnaps sie ihre Aktien plegen oder verwenden sie dazu likör? 
| Branche | Universalbanken |
| Herkunft | Irland |
| Website | www.bankofireland.com |
| Aktienanzahl | 5,30 Mio. (Stand: 29.11.10) |
| Marktkap. | 2,39 Mio. € |
| Branche | Universalbanken |
| Herkunft | Irland |
| Website | www.bankofireland.com |
| Aktienanzahl | 5,30 Mio. (Stand: 29.11.10) |
| Marktkap. | 2,39 Mio. € |
| Indizes/Listen | Eurostoxx, Meistgesuchte Aktien |
Turbogang ein bitte zur seite gehen.. ;-))
Hier die Erste Analize *g*
BoI's offer 'could raise €750m' as it seeks to fend off state control
Thursday December 09 2010
BANK of Ireland could raise up to €750m in equity if the market embraces the bank's newly launched liability-management exercise, stockbrokers NCB said last night.
Yesterday's offer to swap debt from bondholder groups marks the first step along a process that could also see BoI asking shareholders for more money and tapping capital markets.
The bank is trying to raise as much as €2.2bn by the end of February, so that it won't have to accept further government support that could leave it majority state-owned.
Yesterday's offer sees subordinate bondholders who hold €1.5bn of the riskiest debt given the chance to exchange their debt for new government-guaranteed senior debt.
Bondholders are being offered between 48pc and 57.5pc of the nominal value of their debt instruments, reflecting the price the subordinate bonds are already trading at in the market.
Swapping to the new senior debt gives the bondholders security that the will get their money back and neutralises fears of Anglo-style forced haircuts on subordinate debt.
The new senior debt instrument is also due to be repaid in 13 months, giving bondholders their money back far sooner than the subordinate debt instruments, some of which don't mature until 2020.
From BoI's point of view, even though the subordinate bonds are trading at about half their 'face' value, the bank must still record a liability of 100pc of the original loan amount.
Bondholders
If the subordinate bondholders agree to move over to the new instruments' worth, then BoI can book the difference between the face value of the new bonds and the face value of the old ones as a gain.
"Assuming full take-up, we estimate that the group could generate equity in the region of €700m to €750m," NCB banking analyst Ciaran Callaghan wrote in a note to clients last night.
Mr Callaghan added that BoI would be "hoping for a strong participation" in the offer, pointing to the legislation going through the Dail that will force losses on similar debt holders at state-controlled banks.
Debt market investors who have been hugely critical of the forced haircuts and sources say there would be appetite for "voluntary" discounts -- if only because some clients "just want to get out of Ireland".
Investors have until December 17 to sign up to the offer, reflecting the urgency of BoI's capital demands.
http://www.independent.ie/business/irish/...tate-control-2454068.html
widerstand bei 0,48 interessieren. Meinungen dazu?
wir erreichen jetzt Halt 0,48. Achtung Achtung die Türen schließen automatisch.
Nächster Halt 0,50
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