Obligations perpétuelles et subordonnées en zone Euro : vos expériences ?

sissi, le 07/06/2024 a écrit :

AT1 CCF begibt AT1 Anleihe im Volumen von 225 Mio. Euro, Kupon 9,50% Coupon baisse a 9.25%

CCF Group Successful €225m AT1 Issuance

On Wednesday, June 5th, CCF Group successfully closed its first Additional Tier 1 (AT1) issuance following the acquisition of HSBC’s retail banking activities in France.
The Group issued €225 million of AT1 further enhancing its very strong capital position. As a result, the Group’s proforma Total Capital Ratio now exceeds 20%. Concurrently, the Group launched a tender offer for the existing €100 million of AT1 instruments issued in 2019.

CCF Group is a century-old French banking group which is made up of retail banking and specialized financing activities whose mission is to support its customers in bringing their projects to life.
CCF Group Successful ?225m AT1 Issuance

CF Holding SAS  9,250% euro call 2029 min 200k euro
ISIN FR001400QPA3
A3LZZ3 | CCF Holding SAS-Anleihe: 9,250 % (unbefristet) | finanzen.net

Pour complèter, la Commertzbank DE000CZ45WB5 est une coco par 200k min avec paiement annuel. La Toronto-Dominion bank US89116CKP13 est aussi par 200k min.

La nouvelle groupama RT1 le coupon est de 6,5%

Il y a aussi un RT1 de la mondiale qui sort aujourd’hui, pas plus d’info à ce stade

Nouvelle emission emetteur BBB- sub, perp classée "hybride" sur Stuttgart et B+
XS2824761188    Eesti Energia AS EUR    7,88%    31.12.9999 min 100k euros

EESTI ENERG. 24/UND. FLR | A3L1D1 | Börse Stuttgart (XSTU)

several times oversubscribed… ils ont réduit le coupon de 8.5% prévu a 7.88%

Eesti Energia successfully issues inaugural EUR 400m Green Hybrid Bond - Enefit
https://renewablesnow.com/news/eesti-en … ng-862844/

NEW ISSUE SUBORDINATED TIER 1 EUR: LA MONDIAL (LAMON) BBB PERNC10 YIELD TALK: 7% (SEMI-ANNUAL COUPON) m.erci au forum allemand
A voir le coupon final ?

Dernière modification par sissi (10/07/2024 21h24)

sissi, le 10/07/2024 a écrit :

Nouvelle emission emetteur BBB- sub, perp classée "hybride" sur Stuttgart et B+
XS2824761188    Eesti Energia AS EUR    7,88%    31.12.9999 min 100k euros

La date de 31.12.9999 est exacte? On pourrait la considérer comme obligation perpétuelle?

Nouvelle emission

Bank of Montreal 7,300%  26.11.2084 call 2034 sub trimestrielle notée Baa3
Emetteur noté AA- par Fitch probablement min 200k ?
A3L1LE | Bank of Montreal-Anleihe: 7,300 % bis 26.11.2084 | finanzen.net

Nouvelle emission sortie sur Frankfurt
Zavarovalnica Triglav d.d. 6,7% 2045 Euro
ISIN: XS2848005166 emetteur A- mais cette subordonnée BBB+
Assureur slovène - que Tssm avait mentionné il me semble…
Zavarovalnica Triglav d.d. 6,7% 24/45 Bond | A3L1JH | XS2848005166 | Price

Zavarovalnica Triglav d.d. is a Slovenian multinational insurance company headquartered in Ljubljana, Slovenia. Its core businesses are insurance, reinsurance and asset management.

Sordinated bond (Tier 2 pursuant to the Solvency II regulations)
Year of issue    2024
Nominal value in EUR    100,000   
Issue size in EUR    100,000,000
Number of bonds issued    1000
Currency    EUR    EUR
Coupon and coupon payment:    6.70% fixed coupon p.a. until First Call Date, thereafter quarterly floating equal to 3m Euribor + 4.937% (equal to the original initial credit spread + 100bps step-up)
First call date        16/1/2035
Maturity date        16/1/2045
Maturity in years    20.5
Status    Subordinated Tier 2 Bonds
Regulated market    Luxembourg Stock Exchange   
Issue Rating        BBB+ (S&P)

triglav.eu

Baisse du coupon de 8.375% a 8% pour cette Santander Tier 1- arrivée sur Stuttgart ce soir
Le lien devrait fonctionner demain …

US05964HBH75    Banco Santander S.A.    USD    8,00    01.08.2024    31.12.9999 min 200k USD

A venir …. aucune idée du coupon …
Du forum allemand
NEW ISSUE SUBORDINATED TIER2 EUR: BNP PARIBAS SA Baa2/BBB+/A- 10NC5 YIELD TALK:
IPTs:*** MS+200/205bps area *** min 100k

Anleihenboard - Anmelden

De nos voisins:

NEW ISSUE SUBORDINATED TIER1 EUR: ABN AMRO BANK N.V. BBB- PERPNC10 YIELD TALK: 7.00%
XS2893176862 200k

A voir le coupon final ?

Nos voisins Italiens ont poste les details

oupon: Semi-annual, act/act, long first
Issuer: ABN AMRO Bank NV (ABNANV)
Exp. Ratings: BBB- (Fitch)
Format: Reg S, bearer, junior subordinated note, Additional Tier 1
Perpetual call, tax changes call, regulatory / capital disqualification call
Standard Call: Semi_annually beginning Sept. 22, 2034 at 100
Settlement: Sept. 9, 2024
Denoms: 200k x 100k
ISIN: XS2893176862
Bookrunners: ABN Amro, BofA, GS, MS (B&D), UBS
Coupon: Fixed until Sept. 22, 2034. If not redeemed, coupon refixes every 5Y at 5Y MS +margin
Issuer Call: Callable on Sept. 22, 2034 and each interest payment date thereafter
Trigger Event: If at any time (i) the Issuer Solo-Consolidated CET1 Ratio is less than 5.125 per cent and/or (ii) the Issuer Consolidated CET1 Ratio is less than 7 per cent as determined by the Issuer or the Competent Authority
Target Market: Eligible counterparties and professional clients only

Aussi en euro min 100k , IG

EUR Benchmark PerpNC5.25 Variable 5.125%-5.25%
Coupon: Annual, short first
Issuer: Snam SpA (SRGIM)
Exp. Ratings: Ba1/BBB-/BBB-
Format: Reg S, bearer, junior subordinated note, hybrid notes
MWC, clean-up call (75%), tax changes call, regulatory / capital disqualification call
UOP: GCP
Settlement: Sept. 10, 2024
Denoms: 100k x 100k
ISIN: XS2896350175
Bookrunners: BNPP (B&D), GS, JPM, Barclays, BBVA, BofA, Citi, IMI, MS, MUFG, SocGen, UniCredit

Enfin *IPT: ALPHA SERVICES EXP. €300M PNC6 AT1 8% AREA COUPON rating ?

De nos voisins:

NEW ISSUE SUBORDINATED TIER1 USD: ING GROEP N.V. (ING) Ba1/BBB PERPNC NOV-2034 YIELD TALK: 7.875%
ISIN /COMMON CODE: XS2885225966 / 288522596
FIRST RESET DATE: 16 November 2034
200k

$Benchmark Perp Reg S Sub Fixed Rate Reset 7.875% Area
Coupon: []% from and including Sept. 12, 2024 to, but excluding, first reset date; rate will be reset on each reset date to rate per annum equal to sum of applicable 5Y SOFR mid-swap rate on relevant reset determination date plus []bps, from and including relevant reset date to (but excluding) next following reset date, subject to benchmark discontinuation provisions; May 16 and Nov. 16 each year, semi-annual
Coupon Reset Date: Nov. 16, 2034
Coupon Freq Post 1st Reset: Semi-annual
Notes non-callable until November 2034
Issuer: ING Groep NV (INTNED)
Exp. Ratings: Ba1/BBB (Moody’s/Fitch)
First Pay: Nov. 16, 2024
Format: Reg S, bearer, subordinated note, Additional Tier 1 contingent convertible capital securities (with SOFR mid-swaps reset); unsecured obligations, ranking pari passu without any preference among themselves and with all parity instruments of issuer, subordinated to senior instruments of issuer, TEFRA D
UOP: GCP, and to strengthen issuer’s capital base
Settlement: Sept. 12, 2024 (T+5)
Denoms: 200k x 1k
ISIN: XS2885225966
Listing: Euronext-Dublin
Law: Dutch
Bookrunners: ING (GC/B&D), MS (GC), BofA, HSBC, TD, WFS

Dernière modification par sissi (05/09/2024 18h34)