tag:blogger.com,1999:blog-4193551343125110710.post4307793285236384954..comments2023-09-13T22:49:21.905+08:00Comments on 債券投資路: * Bank of East Asia 5.5% 12/2/49 Pert AT1 Bond天路客http://www.blogger.com/profile/00496804638424081479noreply@blogger.comBlogger4125tag:blogger.com,1999:blog-4193551343125110710.post-10900751065993479032020-09-28T14:19:01.558+08:002020-09-28T14:19:01.558+08:00Nice blog..
Bridging Loan PerthNice blog..<br /><a href="https://www.fams.com.au/bridging-loan//" rel="nofollow">Bridging Loan Perth</a>fams Loanhttps://www.blogger.com/profile/01825294438689321303noreply@blogger.comtag:blogger.com,1999:blog-4193551343125110710.post-13962556772240610072016-03-26T15:51:35.188+08:002016-03-26T15:51:35.188+08:00Rating Action: Moody's revises outlook of thre...Rating Action: Moody's revises outlook of three Hong Kong banks to negative; downgrades Bank of East Asia The document has been translated in other languages<br />Global Credit Research - 17 Mar 2016<br />Hong Kong, March 17, 2016 -- Moody's Investors Service has today revised to negative from stable the rating outlook on three Hong Kong banks.<br />The rating action reflects Moody's expectations of a more challenging operating environment for banks in Hong Kong.<br /><br />On 12 March 2016, Moody's changed the outlook on Hong Kong government's Aa1 sovereign rating to negative from stable. The revision of the sovereign outlook reflects our concern that Hong Kong's increasing economic and financial linkages with China (Aa3, negative) give rise to potential negative spillovers from China and ultimately weaker growth.<br />In addition, Hong Kong banks continue to operate in an environment with pronounced imbalances, including high private-sector leverage and elevated property prices. The more challenging operating environment has been reflected in Moody's change of Hong Kong's Macro Profile to "Strong" from "Strong+".<br />The banks affected are The Hongkong and Shanghai Banking Corporation Limited (HSBC), Hang Seng Bank Limited, and Dah Sing Bank, Limited.<br />At the same time, Moody's has affirmed their baseline credit assessments (BCA), adjusted BCAs, counterparty risk assessments (CR Assessments), and ratings at current levels.<br />In addition, Moody's has downgraded Bank of East Asia's long-term and short-term deposit ratings to A3/Prime-2 from A2/Prime-1. Moody's has also downgraded its long-term senior unsecured debt rating to A3; senior unsecured commercial paper rating to Prime-2; and long-term CR Assessments to A2(cr). The outlook on all ratings remains negative.<br />Concurrently, Moody's has affirmed the bank's BCA, adjusted BCA, subordinated debt and non-cumulative preference stock ratings, and short-term CR Assessment.<br />Outlooks, which provide an opinion on likely rating direction over the medium term, are assigned only to banks' long-term deposit, issuer and senior unsecured debt ratings.天路客https://www.blogger.com/profile/00496804638424081479noreply@blogger.comtag:blogger.com,1999:blog-4193551343125110710.post-18448387728062512582016-03-25T01:40:27.059+08:002016-03-25T01:40:27.059+08:00購買理由:
1) 由低位回升仍然比2015年11月發售時低水5%,5.76% YTM is attr...購買理由:<br />1) 由低位回升仍然比2015年11月發售時低水5%,5.76% YTM is attractive! 是入手時機。<br />2) Likely to be called in 2020.<br />3) Adequately capitalised<br />Bank of East Asia recently reported full-year results (for end-Dec 2015), and while earnings were not particularly stellar, the bank still managed to record a healthy HKD5.638b full-year profit, albeit representing a drop from the HKD6.774b in FY2014. More importantly from an AT1 bondholder’s perspective, Bank of East Asia managed to improve its Common Equity Tier 1 capital ratio, Tier 1 capital ratio and Total capital ratio from a year ago , representing a healthier capital position.<br /><br />Bank of East Asia capital ratios 2015 2014<br />Common Equity Tier 1 capital ratio 12.2% 11.8%<br />Tier 1 capital ratio 13.7% 12.5%<br />Total Capital ratio 17.2% 16.7%<br /><br />4) The loss absorption features have no specified trigger point, and an impairment will only be required in the event that the banking regulator deems Bank of East Asia to be “non-viable” or if the bank requires a public sector bailout.<br />天路客https://www.blogger.com/profile/00496804638424081479noreply@blogger.comtag:blogger.com,1999:blog-4193551343125110710.post-49202552481230342042016-03-24T17:59:39.917+08:002016-03-24T17:59:39.917+08:00bought @95.5, yield to call=6.7%, YTM=5.76%, durat...bought @95.5, yield to call=6.7%, YTM=5.76%, duration=4.12/15.76天路客https://www.blogger.com/profile/00496804638424081479noreply@blogger.com