Obligations perpétuelles et subordonnées en zone Euro : vos expériences ?

Surement … dont les "gros" come les gerants et fonds de pension … et etfs…

Mais les grosses boites américaines émettent aussi en diverses devises…comme l’AUD et le GBP en plus de l’euro/USD …

OK pour le retour.

1. Bayer 5.5% euros 2054 call 2029 Junior SUB

screenshot
Anleihenboard - Anmelden

New BAYER :Interest Payment Dates: 13 December (first short coupon)
First Optional Redemption Date: 13 September 2029
First Reset Date: 13 December 2029
Interest:Fixed Interest Rate until the First Reset Date; thereafter: every 5 years interest rate reset at Reference Rate + Initial Margin+ relevant step-ups
Step-ups: 25bps from 13 December 2034 (First Step-up Date); 100bps (additional 75bps) from 13 December 2049 (Second Step-up Date)
Fixed Interest Rate: Payable annually in arrear on 13 December in each year from and including the Issue Date to but excluding the First Reset Date (short first coupon). Act/Act (ICMA), following unadjusted

min 100k euros

2. NEW ISSUE SUBORDINATED EUR: Telefónica, S.A. Baa2/BB/BB+ PERPNC2031 Yield Talk: 5.25%
100k
ISIN / Temporary ISIN XS2646608401 / XS2901990429

3. Nouvelle emission de boite colombienne PAS une sub

Termocandelaria Power US88087AAA60, 7.75% min 200k USD

TERMOC – Termocandelaria announced a new $425mn bullet 7NC3 senior unsecured bond issuance rated BB (Fitch and S&P) with IPT in the low to mid 8% area. The company will use proceeds from the issuance to fund the tender at 102 (including 5 points for early tender premium) for any and all of its existing 7.875% 2029s ($417.2mn outstanding).

Termocandelaria is a Colombia based thermal generator operating through two subsidiaries, Termocandelaria (TECAN/100%) and Termobarranquilla (TEBSA/57.4%) that tougher have 1,529MW of installed capacity and generate ~30% of electricity demand in Colombia’s Atlantic coast. In 2023, the company closed the cycle The company’s assets are strategic to Colombia’s Atlantic coast as its gas fired capacity supports peak demand and is dispatched during dry periods that impact hydro plants. The company benefits from out-of-merit generation due to transmission bottlenecks in Colombia’s northern coast and from USD linked cash flows through fixed reliability charges. The conclusion of the combined cycle at Termocandelaria in 2023 should drive revenue and EBITDA higher going forward.

Termocandelaria’s LTM 2Q24 revenue at $1.46bn, compares to 2023’s $1.1bn and 2022’s $699mn and reflect the impact of El Nino that reduces hydrology, leads to higher thermal generation and results in higher spot prices as well as the closing of the cycle at Termocandelaria in 2023. Similarly, LTM 2Q24 EBITDA at $519mn compares to 2023’s $387mn and 2022’s $248mn. The company reported total debt at 2Q24 of $597mn and cash of $148mn for net debt of $449mn and gross and net leverage of 1.2x and 0.9x, respectively. Given the new issuance will not add incremental debt due to the tender, proforma leverage will remain unchanged.

Dernière modification par sissi (11/09/2024 11h44)

Pour les valeurs Européennes, il y a SwissQuote et GoldWasserExchange qui donnent accès à pas mal d’obligations.

Dernière modification par Oblible (11/09/2024 18h03)

Nouvelle emission

Bank of Ireland Group-Anleihe: 6,375% euro call 2030 a  99,35 % sur Stuttgart
ISIN XS2898168443 notée Ba1, emetteur IG
A3L3BA | Bank of Ireland Group-Anleihe: 6,375 % (unbefristet) | finanzen.net

min ?

Dernière modification par sissi (12/09/2024 14h34)

EDF announces the success of its multi-tranche green hybrid bond issue for a nominal amount of 1.15 billion euros and 500 million sterling
On 10 September 2024, EDF (BBB positive S&P / Baa1 stable Moody’s / BBB+ stable Fitch) successfully priced a
new issuance of green
• • •
perpetual subordinated notes (the “New Notes”):
at an initial 5.125% coupon until 2029 with a 5.25-year first call date at EDF’s discretion; at an initial 5.625% coupon until 2032 with a 8-year first call date at EDF’s discretion;
at an initial 7.375% coupon until 2035 with a 11-year first call date at EDF’s discretion.
€500 million bond,
€650 million bond,
£500 million bond,

https://www.edf.fr/sites/groupe/files/e … 9.2024.pdf

It is expected that the rating agencies will assign the New Notes a rating of B+/Ba1/ /BBB- (S&P/ Moody’s/Fitch) and an equity content of 50%.

FR001400SMS8    Electricite de France S.A. (E.D.F.)    EUR    5,13 % perp call 2029
FR001400SMT6    Electricite de France S.A. (E.D.F.)    EUR    5,63 % perp call 2032
FR001400SMR0    Electricite de France S.A. (E.D.F.)    GBP    7,38 % perp call 2035
https://www.boerse-stuttgart.de/de-de/p … k2rpnpoq81

On suppose des grosses tranches … a verifier sur Stuttgart demain !

Dernière modification par sissi (12/09/2024 22h19)

Les HYBRIDES de EDF sont bien des tranches min de 200k euros !

Electricite de France perp | A3L3G6 | Börse Stuttgart (XSTU)

Dernière modification par sissi (14/09/2024 16h55)