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  1. #31
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    Certainly not troubling buyers recently. Has really shot up. Wish I had more (at about 55cents average).

  2. #32
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    While the share price of Credit Agricole dived, CASHA bonds rocketed up. Hard to understand why buyers come in now. They may dream the bonds be redeemed before or on December 2017, which looks like an over-optimistic expectation.

  3. #33
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    Credit Agricole to pay $787 mln to resolve US sanctions probes ...
    Reuters-
    NEW YORK Oct 19 France's Credit Agricole SA has agreed to pay U.S. authorities $787 million to resolve accusations it illegally moved money ...

  4. #34
    Anonymous idiot Onion's Avatar
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    Default Up to 92c!

    The price of these are up to 92c. That is a significant uplift over the past few months.

    I wonder what is driving the price up:
    • Confidence that Credit Agricole is on a stable footing? Lower chance of a haircut?
    • Confidence that the bonds will be repaid next year? Given the interest rates in other parts of the world it may make sense for them to redeem bonds paying over 5%.

  5. #35
    Guru Xerof's Avatar
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    Probably all of those factors.

    Lee Partners gave a heads-up on the situation a few weeks ago, so perhaps their clients are providing demand.

    These types of hybrids are like chewing gum on the bedpost as well - they lose their flavour over time (i.e. authorities won't accept them as part of various equity calculations)

  6. #36
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    Whats are readers views on the Crédit Agricole S.A. Tender offer? does that mean NZD will follow? Thanks

  7. #37
    Reincarnated Panthera Snow Leopard's Avatar
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    Default Non, rien de rien, non, je ne regrette rien

    Quote Originally Posted by Shane.trading View Post
    Whats are readers views on the Crédit Agricole S.A. Tender offer? does that mean NZD will follow? Thanks
    Rien {nothing} !

    Non {no} !



    De rien
    Tigre de Papier
    om mani peme hum

  8. #38
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    You need to take into consideration of exchange rate, as well as interest rate, to guess what Credit Agricole would do in December 2017.
    When it issued the notes in Dec 2007, NZ$1 = 0.5276 Euro, now the rate is about 0.68.
    If you make a decision for the bank, what would you do?

  9. #39
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    Merci, Tigre, great post!

    Merci (Thanks).


  10. #40
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    Quote Originally Posted by Newman View Post
    Credit Agricole S.A ("CAS") forgot sending to NZX its Preliminary Half Year Results for the period ending 30 June 2015. It showed no respect to NZ bond holders. Would anyone expect CAS redeems the $250m CASHA bonds in December 2017?
    Tomorrow we get paid out. This has been a good investment for me. Bought in at the beginning and averaged down along the way.
    The question is now-where to reinvest the proceeds?

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