ALLIANCE & LEICESTER PLC 3.5% SR EMTN 9/3/11 RENDE 8% ED è UNA AA perchè ?

[acro26]

ALLIANCE & LEICESTER PLC 3.5% SR EMTN 9/3/11 EUR1000

Chart embedded Chart Detailed quote futures options



Master Data

ISIN XS0246741697

Market over the counter Austria

Category Bond








Current development

Maturity Date 09.03.2011

Duration 2.80

mod. Duration 2.59%

Nominal rate 3.500%

Yield 8.12%

Convexity 8.22

Latest price 88.42

Last update 19:00 04.04.

Last 88.35 (03.04.)

Change +0.07 ( +0.08% )

Open 94.59

Today's high 94.59

Today's low 86.22

Trading volume 0

Traded face value 0.00






Statistik

Volatility 11.59

52 weeks high 97.09

52 weeks low 86.13

Year's high 96.82

Year's low 86.13

[maredivino]

ciao
forse per questo?

Alliance & Leicester profits slump as funding costs soar
By Douglas Bence | 10:33:02 | 20 February 2008

The credit crisis has forced Alliance & Leicester to fork out an extra £150 million in funding costs, which has had a severe impact on its earnings growth and left the shares down 36p at 492p.
Core operating profit for 2007 was £417 million against £585 million, in line with the guidance it gave last month. Retail bank profits increased £17 million to £462 million and commercial bank profits £34 million to £150 million.
A&L's results prompted broker Collins Stewart to reiterate its 'sell' stance saying that the firm's outlook statement amounted to a profit warning on revenue.
The extra cost of funding mortgage bank Alliance & Leicester after the sub-prime mortgage crisis and the collapse of the securitisation market is likely to be £150 million, the company said while commenting on its 2007 results.
Group finance director Chris Rhodes said if this were a normal year the bank would need £3 billion of funding, but in view of the liquidity shortage it had decided instead to raise £6 billion.
It has been forced to pay over the London Interbank Offered Rate (LIBOR) which will cost an extra £112 million, the balance being the cost of holding that liquidity, he says.
The funding runs into 2009. Much of it is backed by A&L's(AL.) residential mortgage assets. The bank says it has no sub-prime, near-prime or self-certified mortgages on its balance sheet.
In the 2007 figures A&L gives a detailed breakdown of its £23.1 billion of treasury assets which following the banking crisis have fallen in value by £242 million.
http://www.citywire.co.uk/Personal/-...aspx?ID=291587

[maredivino]

ho allegato l'andamento del prezzo del bond sulla piazza di Francoforte...non mi torna che il "crollo" della quotazione sia stato dopo il 15 marzo e non dopo il 20 febbraio (data dell'articolo che ho citato)...
su deutscheboerse però mi dà volumi zero nell'ultimo mese (fino al 6 marzo 2008) unica transazione di 42.000 pezzi a 92,85 il 26 marzo... magari non è il mercato principale, andrò a guardare su LSE.
Magari soffre per gli stessi motivi di panic selling che avevano contagiato perfino le GE!

[avvocatissimo]

il calo ultimo dovrebbe derivare dalle notizie di contrazione dei rendimenti del trimestre a seguitodi svalutazioni per i soliti problemi.......

[i98mark]

Originalmente inviato da avvocatissimo

il calo ultimo dovrebbe derivare dalle notizie di contrazione dei rendimenti del trimestre a seguitodi svalutazioni per i soliti problemi.......

Infatti è così... anche loro, come tutto il sistema bancassicurativo britannico, sono impegnati in uno sforzo enorme di raccolta di liquidità.

[acro26]

Grazie delle info a tutti e bollino verde a maredivino , io stè notizie non sò dove cercarle
Se si prendono a un buon prezzo sotto o pari a 90 credo si possa rischiare qualcosa......una doppia A non dovrebbe fallire entro il 2011

[stube]

Originalmente inviato da acro26

Grazie delle info a tutti e bollino verde a maredivino , io stè notizie non sò dove cercarle
Se si prendono a un buon prezzo sotto o pari a 90 credo si possa rischiare qualcosa......una doppia A non dovrebbe fallire entro il 2011

Alle quotazioni attuali (circa 85) rende moltissimo però le notizie ultime non sono brillanti. Da Aa3 è passato a A1 per Moody lo scorso Aprile. Forse il mercato non crede che tutti gli scheletri siano stati rimossi dagli armadi.

May 13 (Bloomberg) -- Alliance & Leicester Plc, the British bank that gets a quarter of revenue from mortgages and savings, fell to the lowest in almost eight years in London trading after announcing writedowns of 391 million pounds ($763 million).

The Leicester, England-based lender's writedowns included 199 million pounds that won't affect profit, a 139 million-pound impairment on treasury assets and a 53 million-pound markdown, the company said in a statement today. Alliance & Leicester fell 10 percent at 458.75 pence, valuing it at 1.9 billion pounds. The bank last fell as low in July 2000.

``We're walking a tightrope. It is fair to say that the treasury impairments are higher than we expected,'' Finance Director Chris Rhodes told analysts on a conference call today.

Alliance & Leicester, which relies on wholesale money markets for almost half of its funding, abandoned its profit target in March as increased borrowing costs caused the company to scale back lending. The bank started a covered bond program last month and set aside $3.6 billion of home loans to help meet capital reserve requirements.

``Writedowns are at the higher end of expectations,'' said Simon Maughan, a London-based analyst at MF Global Securities Ltd., who has a ``buy'' rating on the stock. ``They are really going to struggle to pay their dividend.''

`Capital Raising'

Alliance & Leicester said in February that it wouldn't raise its 55.3 pence a share dividend above the 2007 level and it will offer investors shares instead of a cash dividend. This would be the ``best outcome,'' Maughan said. ``A cut in dividend is a strong possibility and this, in effect, would be a capital raising,'' he said.

``It's too early in the year to call the dividend one way or the other, we remain comfortable with where we sit at the moment,'' Rhodes said.

Alliance & Leicester took a charge of 49 million pounds for financing costs in the first four months of the year. It has sufficient funding into the second quarter of 2009, the statement said. Mortgage payments three months or more in arrears were 0.57 percent of the total as of April 30.

In line with the company's forecast, mortgage balances were 41.2 billion pounds at the end of April, down 1.5 billion pounds from Dec. 31. Alliance & Leicester is targeting growth in its commercial and retail deposits to offset writedowns and costs. Customer deposits were 23.6 billion pounds at the end of April, 0.3 billion pounds more than at the end of 2007.

Ratings Cut

Alliance & Leicester had its long-term bank deposit and senior-debt ratings reduced one level from Aa3 to A1 by Moody's Investors Service in April. Higher funding costs may hurt the bank's profit, it said. Net income in 2007 fell 41 percent to 256.7 million pounds.

``The asset quality of our customer loans continues to be strong, with mortgage arrears running at less than half the Council of Mortgage Lenders' average,'' Chief Executive David Bennett said in the statement. ``Our funding position is also strong.''

To contact the reporters for this story: Poppy Trowbridge in London at ptrowbridge@bloomberg.net
Last Updated: May 13, 2008 11:45 EDT

[negusneg]

Aggiungo che opera nel settore dei mutui e l'immobiliare britannico non è certo in gran forma...

[amexroma]

ho già controllato, con Fineco non si compra, forse per telefono
non ho capito se è una banca o una compagnia di assicurazioni di proprietà di qualche banca, nel primo caso si può stare più sicuri che non fallisca, nel secondo