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The Shibui Roundtable

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  pvtkhan2000: I requested for enlistment on Closing price list of Alpha Star Hodling Ltd 4.97 04/09/2019 ISIN: XS1054932154 a week ago but there is no response.
  hazza: Seems a little quiet here
  adriedu: PLEASE ADD PDVSA 04/37 to the closing price list !!
  adriedu: Please add PDVSA 2037 bond price to closing prices ASAP.
  jpatlantic: Petrobras Declares Franco, Carioca, Tupi South Fields Commercial

Petroleo Brasileiro SA (PETR4), Latin America’s largest oil company by market value, said three of its offshore fields are commercial including Franco and the Carioca field it owns with BG Group Plc (BG/) and Repsol Sinopec Brasil SA.

Carioca, considered one of the big five discoveries in the so-called pre-salt region, holds 459 million barrels of oil equivalent, Rio de Janeiro-based Petrobras, as the Brazilian producer is known, said in a regulatory filing today. Petrobras said it has suggested to Brazil’s regulatory agency to change the field’s name to Lapa. It is located 270 kilometers (167 miles) from the coast of Sao Paulo state.

In a separate regulatory filing, Petrobras also declared as commercial two fields in the pre-salt region of Brazil’s Santos Basin. Franco and Tupi South both showed good quality oil, the company said. Franco has 3.1 billion barrels of oil equivalent while Tupi South contains 128 million barrels, Petrobras said.

The field declarations come six years after then-Brazil President Luiz Inacio Lula da Silva first announced the discovery of at least 50 billion barrels of oil in the pre-salt region. The other fields among the Big Five pre-salt discoveries are Lula, Iracema, Iara and Sapinhoa.

Petrobras owns 45 percent of Carioca, BG owns 30 percent while the Brazilian joint venture between Spain’s Repsol SA (REP) and China Petroleum and Chemical Corp holds the rest.

Lapa is a Portuguese-language name for a type of fish. Brazilian offshore oilfields are given names of fish and other sea-life after they are declared commercial.

  WhimmerL: Indeed, then economy is dying for help. When August's jobs report revealed a drop in job creation, the Federal Reserve announced it would consider renewed efforts at economic stimulation. Thursday, the plans for that effort were made known. Get a
  jpatlantic: France will borrow 4.5 billion euros ($6.0 billion) by the end of the year to settle debts from the collapse of the Credit Lyonnais bank, French Finance Minister Pierre Moscovici said on Sunday.

The state has until the end of 2014 to settle the bank's remaining debts, but decided to take action this year, a ministry official said.

Moscovici said he would present a bill on Wednesday updating the 2013 budget that would include authorization for the new debt to be issued.

  jpatlantic: BICBANCO due 2020 is trading at around 72 cents on the dollar on Tuesday.
  jpatlantic: BICBANCO will buy back some of its bonds, which have plunged in value since Moodys Investors Service downgraded the small Brazilian banks ratings earlier this month.

The move highlights the difficulties facing small and midsize banks in Brazil, as theyre still struggling to modify their business models in the wake of the global financial crisis, and cope with competition from the handful of much stronger behemoths that dominate the local banking industry.

Brazils banking system is dominated by five major banks, but there are around 170 small and mid-sized banks with about 220 billion Brazilian reais ($97 billion) in loans outstanding, or about 10% of total loans. Total financial system assets in Brazil stood at 5.2 trillion reais at the end of the first quarter, while BicBanco had about 16 billion reais in assets, according to the Central Bank of Brazil.

Earlier this month, Moodys Investors Service downgraded BicBancos global local- and foreign-currency deposit ratings to Ba1 from Baa3, with a negative outlook.

Moodys noted weakened financial metrics in recent quarters, particularly its profitability and asset quality, which remain under pressure despite managements considerable efforts to reposition the lending business and to clean up the loan portfolio.

BicBanco has changed its funding mix towards longer-dated instruments which tend to be more expensive than customer deposits, Moodys said.

BicBanco declined to comment for this article, citing the release of second quarter earnings, which are scheduled to be released on Aug. 15.

In a statement, the bank said it will buy back some dollar-denominated bonds due in 2020, and may buy back some bonds due 2015. When they were first sold, the bank raised $300 million and $400 million from the bonds, respectively. According to Factset, the bonds due 2020 were trading at around 64 cents on the dollar on Monday, while the 2015s were trading at around 88 cents.

  amigolatino: I am searching for a good description of:

Petroleo Brasileiro S.A. PETROBRAS Preferred Shares ADR Ticker Symbol: PBRA CUSIP: 71654V101

ADR ratio, the dividend, whether the dividend is cumulative, etc.

  rothschild: LONDON (AP) Financial markets were roiled Wednesday as Egypt's unfolding political crisis pushed the price of oil to its highest level in more than a year and Portugal's government teetered on the edge of collapse.

While the benchmark New York oil price rose above $100 a barrel for the first time since last May, stocks around the world were piling up the losses, particularly in Portugal where the main PSI stock index was trading 5.4 percent lower after two leading Cabinet members quit the government.

  rothschild: From Greece to Cyprus, Slovenia to Spain and Italy, and now most pressingly Portugal, where the finance and foreign ministers resigned in the space of two days, a host of problems is stirring after 10 months of relative calm imposed by the European Central Bank.

Portuguese Prime Minister Pedro Passos Coelho told the nation in an address late on Tuesday that he did not accept the foreign minister's resignation and would try to go on governing.

If his government does end up collapsing, as is now more likely, it will raise immediate questions about Lisbon's ability to meet the terms of the 78-billion-euro bailout it agreed with the EU and International Monetary Fund in 2011.

  rothschild: Portugals finance minister Vitor Gaspar, the architect of the countrys 78 billion EU/IMF bailout plan, has resigned and will be replaced by the countrys treasury secretary, the presidents office said yesterday. Mr Gaspars departure marks the biggest political casualty from the countrys debt crisis since the previous Socialist government collapsed in 2011 after it was forced to request the bailout.

  PIshu: I have subscribed with Shibui Markets for daily closing prices on the bonds. I am disappointed that a lot of the prices quoted are not up to-date, in many cases are as far out as 2 weeks and some cases months. I have put in a complain with Shibui Markets, unfortunately to no avail, as I am not getting any answers and being completely ignored. As such, you can see why I am posting this grouse, and would certainly not recommend anyone to subscribe to Shibui Markets.
  tomas brasil: Os bonds da Venezuela sempre foram honrados...ou nao.\petrolio
  tomas brasil: Esta outra vez em observar os bonds brasileiros.lembre quando da vespera do candidato Lula??????????????

3m bonds

  jpatlantic: Argentina:
From big Chinese and Brazilian companies like miner Vale SA , to small-business owners and savers, the fear of a new crisis has led to canceled investments and suitcases of cash leaving the country.

The mass exodus, which has been limited only by leftist President Cristina Fernandez's capital controls, is threatening to undermine Latin America's No. 3 economy even further by leaving it short of hard currency and new jobs.

The underlying problems range from Fernandez's hostile treatment of the private sector, to severe financial distortions such as a parallel exchange rate, to the general feeling that Argentina is due for one of the periodic spasms that have racked the country every 10 years or so going back to the 1930s.

Some say such worries are overblown, arguing that Argentina has defied doomsday predictions for the past decade, which was by some measures its best economic run since World War Two.

Yet for many, the feeling is of a gathering storm.

"The end of this story has already been written, and it ends in crisis," said Roberto Lavagna, who as economy minister from 2002 to 2005 helped create Argentina's current export-driven policy framework, and is still widely respected on Wall Street.

  jpatlantic: Brazils state development bank, known as BNDES, is considering selling bonds abroad for the first time since 2011 to help finance its international lending program, President Luciano Coutinho said. The Rio de Janeiro-based bank will make a decision on its sale plans this month, Coutinho said in an interview in New York yesterday. The lender is studying tapping international capital markets after Petroleo Brasileiro SA, also controlled by Brazils government, sold $11 billion of bonds earlier this week, a record for an emerging-market company. Yields on BNDESs $1 billion of 5.5 percent securities due 2020 have fallen to 3.24 percent after reaching a nine-month high of 3.5 percent last month.
  jpatlantic: Brazils real posted the only gain against the dollar among major currencies as Petroleo Brasileiro SA offered a record $11 billion of bonds. The real appreciated 0.6 percent to 2.0087 per U.S. dollar at 4:33 p.m. in Sao Paulo, the biggest gain on a closing basis since April 24. Swap rates on the contract due in January 2017 declined three basis points, or 0.03 percentage point, to 8.97 percent today. Petrobras, as the state-run oil producer is known, is offering fixed-rate bonds due in three, five, 10 and 30 years as well as three- and five-year floating-rate notes, according to a person familiar with the transaction who asked not to be identified because terms arent set. The real is rallying on speculation Petrobras will exchange some of the money it raises into local currency, according to Joao Paulo de Gracia Correa, currency manager at Correparti Corretora. The real is going against the rest of the currencies due to expectations for Petrobrass bond sale, he said in a phone interview from Curitiba, Brazil. The market is expecting Petrobras to exchange more dollars.
  jpatlantic: Venezuelan government bonds rallied, with benchmark yields falling to a five-year low, after the government devalued the bolivar, helping cut the budget deficit by generating more local currency from its oil exports. The yield on the dollar-denominated bonds maturing in 2027 dropped eight basis points, or 0.08 percentage point, to 8.61 percent at 1:40 p.m. in New York, according to data compiled by Bloomberg. The yield on state-owned Petroleos de Venezuela SAs securities due in 2017 slid two basis points to 8.41 percent. Venezuela, South Americas largest oil producer, weakened the exchange rate 32 percent to 6.3 bolivars per dollar, the nations fifth devaluation in nine years. President Hugo Chavez, who is recovering from cancer surgery in Cuba, ordered the move, Finance Minister Jorge Giordani told reporters Feb. 8. Its a positive in terms of fiscal cash flow, Siobhan Morden, the head of Latin America fixed-income strategy at Jefferies Group Inc. in New York, said in a telephone interview. It produces more net fiscal revenue for the government.
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