Torna il BTP Italia, dal 20 al 23 ottobre. Caratteristiche e novità della nuova emissione
Torna il BTP Italia, dal 20 al 23 ottobre. Caratteristiche e novità della nuova emissione
Appuntamento tra un mese esatto alla la seconda e ultima emissione dell'anno del BTP Italia. La nuova emissione verrà tenuta dal Tesoro da lunedì 20 ottobre al giovedì 23 ottobre con la novità del tetto per quanto concerne il quantitativo che verrà...
Dopo il no scozzese i mercati guardano alla Catalogna e alla Francia
Dopo il no scozzese i mercati guardano alla Catalogna e alla Francia
Le borse europee si sgonfiano dopo le ottime performance registrate in mattinata in scia all'esito del referendum sull'indipendenza scozzese che ha visto il prevalere del no. A Londra il Ftse100 avanza dello 0,61%, il tedesco Dax guadagna dello 0,2...
Da governo via libera a modello 730 precompilato dal 2015 per 30 milioni di italiani
Da governo via libera a modello 730 precompilato dal 2015 per 30 milioni di italiani
A partire dal prossimo anno i cittadini italiani avranno a disposizione una dichiarazione dei redditi precompilata. Oggi il consiglio dei ministri ha dato il via libera al decreto legislativo sulla dichiarazione precompilata dei redditi, il primo p...
Tutti gli articoli Tutte le notizie

Torna indietro   Forum di Finanzaonline.com > Approfondimenti di Finanza > Obbligazioni, Titoli di Stato

Titolo di riferimento: VENEZUELA CARAC Quotazione al 18/09/2014 2.777,2400 (0,38 %)  
Notizie Analisi tecnica Analisi operativa Quotazioni
Vai al forum
Discussione chiusa
 
Strumenti discussione Modalità visualizzazione
Vecchio 22-04-09, 15:58   #261 (permalink)
Member
 
Data registrazione: Dec 2007
Messaggi: 10,050
Popolarità: 0
harrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond repute
Citazione:
Originalmente inviato da viper71 Visualizza messaggio
E intanto i bond del Venezuela salgono sempre di più

quelli del 2027 in dollari da 58 son andati a 64 ma bisogna considerare che il dollaro ha recuperato sull'euro intanto il 9,25 lo danno
harrison1 non  è collegato  
 
Stanco della Pubblicità? Registrati
Vecchio 04-05-09, 16:48   #262 (permalink)
Aurea med.i.o.critas
 
L'avatar di viper71
 
Data registrazione: Nov 2008
Messaggi: 1,330
Popolarità: 39836259
viper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond repute
Citazione:
Possible New PDVSA Dollar Bond Helps Venezuela Bolivar Strengthen in ParallelMarket

Rumors began to float around Caracas financial circles last week that Petroleos de Venezuela SA, the Venezuela state-owned oil company, may announce details of a $2 billion bond sale and issue short-term zero coupon bonds by the middle of May -- allowing it to raise much needed capital to pay off its increasingly delinquent accounts. Though still unconfirmed and unofficial, the news helped Venezuela's beleaguered bolivar strenthen from its lows, closing the week at 6.60-6.70 against the dollar in the unregulated swaps market. Miguel Octavio, Executive Director and head of research at Venezuela's leading investment bank BBO, takes a look at the likelihood of new PDVSA bond issuance and its possible effect on the bolivar-dollar parallel market.

By Miguel Octavio

CARACAS -- The Bolivar strengthened in the parallel market this week amidst rumors of a new bond issue and the naming of a new Central Bank President, Nelson Merentes, who was a Finance Minister from 2001 to 2007, and will surely side with whatever the government’s intentions are regarding the deficit and other aspects.

Nothing has been confirmed and news is still quite vague but what’s certain is that the government is concerned about the non-stop rise of the parallel market and is looking for measures that could draw back the high levels it has reached.

The word out on the street is that PDVSA might be issuing a zero coupon bond in the middle of May. It is believed the size would be between US$ 2 and 2.5 billion and that it would mature in two years. Other news suggests that it will be offered to companies, specifically those that PDVSA has debts with, and not individuals. PDVSA could certainly use the cash flow as it is behind in payments due to their contractors, salaries and other expenses; a debt issue could be the answer to this. So an issue directed toward this group would certainly make sense.

Because of reasons exposed later, another option that seems more likely is that the issue could be private and directed to banks and other financial institutions as a way to finance their debts. The issue would not be in US$ but in the form of notes denominated in US$ and payable in Bolivars, like a TICC.

Usually a bond issue is expected to tackle the swap rate -- lowering it by allowing buyers to pay Bolivars and obtain bonds which could be later sold in foreign markets, in exchange for US$. However, if it were a US$ issue, the size of it will probably not be enough to achieve an important effect, and if it does, it probably wouldn’t last long. On the other hand, if the bond is payable in Bolivars, it would not affect the parallel market.

Even though nothing’s certain yet, just the news and rumors have helped the market draw back some. On Tuesday it got to Bs. 6.70 which is lower than it’s been the last few days. It has stayed there since, with not much volume being done as people seem to be expecting an official announcement about the supposed new issue.

One other important matter that should be taken into account is whether there’ll be enough demand for a US$ issue in the secondary market. The only PDVSA issue that has taken place was the one made in 2007, which was of a considerable amount, US$ 7.5 billion divided in three bonds that mature in 2017, 2027 and 2037. Venezuelan and PDVSA bonds’ prices are a little higher from the levels they were at six months ago, partly because things are slightly looking up in the international markets and things have calmed down a bit, and also because a small bounce was to be expected after such a big drop. The bonds are currently being priced at 45, 39 and 39 respectively, which are low prices. This is important as the final selling price will determine the implicit rate investors would get for the final US$ and for it to be effective it would mean that the bond would have to be sold at a high premium in Bolivars, because it’s so short and has no coupon.

Another negative point is that PDVSA is less preferred by investors who tend to go for sovereign debt, so in order to get investors interested the yield they demand could be even higher than 14%, which is the average Venezuelan bonds offer.

There doesn’t seem to be any real immediate risk of Venezuela defaulting, but many investors in international markets tend to stay away from these bonds, simply because of aversion to emerging markets, which are riskier. In addition, negative news regarding the government, oil and Venezuelan companies doesn’t make the bonds look very attractive for foreign investors.

Also a factor, there is another Venezuelan bond maturing in 2011, in the amount of US$1 billion, that would likely mean a total US dollar debt payment of $3.5 billion on that year -- which is manageable if oil prices bounce back by then, but a strain if they don’t.

For now the parallel market remains in a state of expectancy awaiting further, more concrete information.
PDVSA sta considerando una nuova emissione di bond Z.C. per 2-2,5 MLD di $$$
viper71 non  è collegato  
Vecchio 04-05-09, 22:22   #263 (permalink)
Member
 
Data registrazione: Dec 2007
Messaggi: 10,050
Popolarità: 0
harrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond reputeharrison1 has a reputation beyond repute
oggi erano a 65,75
harrison1 non  è collegato  
Vecchio 06-05-09, 14:41   #264 (permalink)
Member
 
Data registrazione: May 2003
Messaggi: 1,175
Popolarità: 35223948
ilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond reputeilcamoscio has a reputation beyond repute
Citazione:
Originalmente inviato da harrison1 Visualizza messaggio
quelli del 2027 in dollari da 58 son andati a 64 ma bisogna considerare che il dollaro ha recuperato sull'euro intanto il 9,25 lo danno
Occhi ben aperti, problemi grossi in Venezuela.
Si comincia con le carte di credito.
ilcamoscio non  è collegato  
Vecchio 06-05-09, 16:15   #265 (permalink)
Member
 
Data registrazione: May 2006
Messaggi: 1,143
Popolarità: 42949681
carpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond reputecarpaccio has a reputation beyond repute
problemi delle carte di credito in Venezuela? Credo un po' ovunque
carpaccio non  è collegato  
Vecchio 06-05-09, 17:14   #266 (permalink)
Member
 
Data registrazione: Jan 2005
Messaggi: 12,899
Popolarità: 42949682
poprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond reputepoprad has a reputation beyond repute
le carte di credito non sono piu' valide per acquisti all'estero.. altro che !!!!
Le banche non hanno piu' valuta.. Anche l'Argentina inizio' cosi'.
poprad è  collegato  
Vecchio 06-05-09, 17:17   #267 (permalink)
Member
 
Data registrazione: May 2009
Messaggi: 614
Popolarità: 17234151
il controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond repute
Articolo di oggi su LIBERO....occciooooo.
il controllore non  è collegato  
Vecchio 06-05-09, 17:22   #268 (permalink)
Aurea med.i.o.critas
 
L'avatar di viper71
 
Data registrazione: Nov 2008
Messaggi: 1,330
Popolarità: 39836259
viper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond reputeviper71 has a reputation beyond repute
Citazione:
Originalmente inviato da il controllore Visualizza messaggio
Articolo di oggi su LIBERO....occciooooo.
Allora...

Quello sì che è un giornale che dà delle notizie...
viper71 non  è collegato  
Vecchio 06-05-09, 17:35   #269 (permalink)
Member
 
Data registrazione: May 2009
Messaggi: 614
Popolarità: 17234151
il controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond reputeil controllore has a reputation beyond repute
beh tra loro ed il Sole.............La mia preferita è la BUFFA (quando scriveva sull'Argentina )
ha convinto molti poveri pensionati a non aderire al concambio. Se avessero poi venduto subito avrebbero recuperato dal 50 al 60%.
il controllore non  è collegato  
Vecchio 06-05-09, 19:07   #270 (permalink)
Member
 
L'avatar di sotomajor
 
Data registrazione: Jan 2008
Messaggi: 380
Popolarità: 7717716
sotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond reputesotomajor has a reputation beyond repute
Da Liberonews:
Il Venezuela vieta le carte di credito all’estero

| Economia | Claudio Antonelli
Pubblicato il giorno: 06/05/09
Caracas vicina all’insolvenza

Le avvisaglie ci sono ormai tutte: Caracas e lo stato gestito dal bolivarista Hugo Chavez sono vicini all’insolvenza. Ieri il Banco Venezolano de Credito (Bvc) ha notificato ai correntisti la sospensione delle carte di credito all’estero per via «del reiterato diniego da parte della Commissione di Vigilanza delle divise estere di cancellare dai conti il corrispettivo dei dollari spesi». Se la Commissione «non consentirà il cambio di valuta, Bvc confermerà fino a tempo indeterminato», si legge in una nota dell’Istituto, «il divieto di usare le carte di credito all’estero». Non è certo un bel segno tanto più che la scarsa liquidità deve essere valutata anche alla luce degli ultimi bond emessi con un tasso di rendimento promesso superiore al 24%.

Senza dimenticare che l’inflazione, ora al 25,6%, è leggermente scesa. Ma per merito del calo dei consumi. I prezzi del cibo, dopo una crescita superiore al 35% che seguiva la crisi alimentare mondiale dello scorso anno, non sono scesi nei mesi di marzo e aprile. Gli affitti sono saliti solo dello 0,48%, i costi sanitari del 2,8%, e i costi di trasporto del 2,2%, secondo l’Istituto Nazionale di Statistica (Ine). Il rallentamento dell'inflazione è stato registrato in tutte le 10 principali città del Venezuela. Ma il fatto drammatico, sebbene ampiamente prevedibile, è la drastica riduzione del prezzo del greggio. Il business plan della compagnia di bandiera venezuelana, Pdvsa, ormai dinamo dell’intera economia di Caracas, aveva calcolato tutti gli investimenti per il 2009 e per il 2010 su un prezzo medio di 85 dollari. Ben al di sopra del prezzo attuale. Con la conseguenza che il 90% dei progetti del governo di Chavez sono stati posticipati per mancanza di denaro. A data da definirsi.

Okkio...se emettono bond con rendimento del 24%....
sotomajor non  è collegato  
Discussione chiusa

Segnalibri

Strumenti discussione
Modalità visualizzazione

Regole messaggi
Tu non puoi inviare nuove discussioni
Tu non puoi replicare
Tu non puoi inviare allegati
Tu non puoi modificare i tuoi messaggi

Il codice BB è Attivato
Le faccine sono Attivato
Il codice [IMG] è Attivato
Il codice HTML è Attivato
Trackbacks are Disattivato
Pingbacks are Disattivato
Refbacks are Disattivato

Vai al forum


Tutti gli orari sono GMT +2. Adesso sono le 10:05.

Powered by vBulletin® versione 3.8.7
Copyright ©2000 - 2014, Jelsoft Enterprises Ltd.

Chi siamo- Pubblicità- Contatti- Disclaimer- Credits  
© 2000-2014 Browneditore S.p.A. - Tutti i diritti riservati. Prima di utilizzare anche parzialmente i contenuti di questo sito, vogliate cortesemente consultare il disclaimer.