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sticky!
from google search:
What is included in cet1?
CET1 represents the bank's core capital. It includes ordinary shares, retained earnings, stock surpluses from the issue of common shares and common shares held by the subsidiaries of the company.
NOW do you understand why jps converts?
wait ‘til they announce the bankers ... deal going to move at warp speed immediately and pref gonna rip then.
but not unexpected
no bueno, worse than expected re common dilution... but will be fortress balance sheet, prob AA rated. even variable rate pref shd trade well
tell him it's a shame he still isn't invited to the secret meetings
sticky!
very good
no.... breach of contract and penalty interest from date of breach
you are really lost here.... the bonds were gtd back in 2008 as part of conservativorship and agency bonds 2nd largest bond mkt in world behind treasuries
uh, excuse me, but when fed is in repo mkt, it’s agency/treas they are trading in. Bad debt?????
oops , sorry, just like to point out your errors
i hope you realize this is strictly the agency debt securities and has nothing to do with equity except for further proof fnf not going away
still not invited to those secret meetings, huh? what a shame. lmao
read last sentence.... lmao
edit: cant raise new pref unless existing pref converts... LMAO
"It's conceivable that Fannie/Freddie's projected 2021 capital raise is delayed by one or two quarters to make up this shortfall," Howlett explained. "It is also possible that deal sizes are larger, but we are still maintaining our projection for a $60bn raise which includes common, convertible preferred and straight preferred equity."
https://www.valuewalk.com/2020/04/fannie-mae-recession/amp/?__twitter_impression=true
yes re listing and no change
as Shakespeare said ... "he doth protest too much" lmao. I could never retire. miss the action too much
thank you
shame you're not included in these secret meetings lmao
dunno .... but acg believes it and that’s good enough for me. calabria/houlihan lokey i’m sure can get it done
just for the record, acg believes relisting happens this fall
kt, thank you again for posts
planning on exchange or redemption. end game is not trading. lmao
FFacts Friday, 04/24/20 08:55:52 AM
Re: curious999 post# 606154 0
Post # of 606206
They varied considerably and sometimes traded as much as 70% of liquidation value. That is not "around par." Logically they traded in line with their benchmark rates.
im saying it wouldn’t trade at 30% discount and as kt says, that’s 3 strikes and you’re out. there’s a reason why floaters exist and why investors buy them.
these were AA at the time. you are just flat out wrong.
i don’t have kt’s patience but if 90 day bills are yielding 0.13%, 1% in AA floater looks pretty good
prob is you are comparing apples to oranges, not apples to apples. floaters are NOT fixed rate paper
no ... you are correct for fixed coupons but not floaters
you implied the price was impaired by the coupon and that is not true. floating rate paper with AA rating trades near par depending on the amount of yield premium over the index! the floaters that trade at significant discount are because of credit concerns not because the index is high or low
no ... it’s because they had AA rating without fear of financial distress then and traded at slight yield premium to treasury bills. also, floating rate paper that pays quarterly will never trade at significant premium to par except for those earlier issues that had floors - minimum rates
look at 2005 and earlier before the mortgage mess. by the way, these floaters were fully subscribed at the offering and this type of paper will again be in great demand as inflation hedge at some pt
the fnf floaters traded around par pre conservatorship.
the reason to exchange all is your argument is correct re making the offering infinitely easier
obviously you are correct and and don’t waste your time with him. i put him on ignore long time ago
the math challenged “mr fence” also forgets or doesn’t realize that an 8+% coupon with AA rating will have asset value way north of par in addition to the income
i thought you were comparing buying pref v buying common
given the current price of fnmat v fnmao, i also would buy t vs. o at these levels.
but kt’s point is that par, not the coupon
fnmat is fixed 8 1/4% coupon and there is no way i buy common v this issue.
re the floaters, if not exchanged/redeemed, they should trade at yields slightly above t-bills implying a slight discount to par at worst
navy, wish there was a way to forward this to dcbill
where you heard it was lamberth’s court! pref contract rights were violated.
maloni, you’re neither an atty nor a capital mkts expert. what you are is a former shill/lobbyist and you are part of the reason why there is so animosity lingering
math and logic doesn't seem to penetrate ... buying back stock?????? what a joke and so sad