FLASH: Banca MPS non paga gli interessi ai possessori dei bond ibridi

No money… no pay….

Al momento i possessori di obbligazioni subordinate non vengono colpiti.

Non voglio fare autocelebrazioni ma su questo vi abbiamo avvertito da tempo da mesi.
Vittima di una situazione ormai irreccuperabile, la Banca Monte dei Paschi di Siena si trova costretta ad andare a colpire per la prima volta gli obbligazionisti. Partendo ovviamente da quelli “meno” tutelati.
Si tratta dei cosiddetti “bond ibridi”, strumenti finanziari molto complessi che sono a metà strada tra l’azione e l’obbligazione.
Al momento non sono stati ancora colpioti i possessori delle obbligazioni subordinate, ma potrebbe essere una questione di tempo, SOLO di tempo, anche se di certezze, ahimè, in finanza ce ne sono sempre di meno…
I titoli colpiti sono:

MPS Capital Trust II, Noncumulative Floating Rate Guaranteed Convertible FRESH Preferred Securities, (Liquidation Preference EUR 3.28 per FRESH Preferred Security) representing a corresponding amount of Noncumulative Floating Rate Guaranteed Convertible LLC Preferred Securities of MPS Preferred Capital II, LLC (ISIN: XS0180906439);

Antonveneta Capital Trust I, Noncumulative Floating Rate Guaranteed Trust Preferred Securities (Liquidation Preference EUR1,000 per Trust Preferred Security) (ISIN: XS0122238115);

Antonveneta Capital Trust II, Noncumulative Floating Rate Guaranteed Trust Preferred Securities (Liquidation Preference EUR1,000 per Trust Preferred Security) (ISIN: XS0131739236)

E su questi bond MPS non pagherà le cedole dovute. Cosa simile era già successa a febbraio col bond MPS Capital Trust I 7.990% Noncumulative Trust Preferred Securities (ISIN: XS0121342827)

MILAN (Reuters) – Banca Monte dei Paschi di Siena (BMPS.MI) has said it will not pay coupons coming due at the end of the month on three hybrid loans, as requested by European authorities as a condition for a state bailout.
Italy’s third biggest bank, brought close to collapse by the euro zone debt crisis, is set to unveil a turnaround plan this week. European Union Competition Commissioner Joaquin Almunia has asked the bank to toughen up a previous restructuring plan.
In a letter sent to the Italian government in July, Almunia had also said that payments to holders of hybrid and subordinated debt issued by Monte Paschi had to be “prevented to the maximum extent legally possible.”
Monte Paschi holds a board meeting on Tuesday to approve a turnaround plan to meet the EU demands.
The bank issued a hybrid financial instrument called FRESH in 2008 to partly fund its controversial purchase of rival Antonveneta.
On Friday, Monte Paschi said it would not pay the next coupon on September 30 on its MPS Capital Trust II non-cumulative floating-rate guaranteed convertible FRESH preferred securities.
The bank said it would also withhold the coupon payment on its Antonveneta Capital Trust I and II non-cumulative floating- rate guaranteed trust preferred securities, respectively, on September 21 and 27.
“The suspension of interest payment is permitted, under certain prerequisites, by the respective regulations” of the notes, Monte Paschi said in a statement. (Source)

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DT

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