Jaguar Land Rover 4.5% 15ge26 XS1881005976 2.2% 15ge24 XS1551347393
- Creatore Discussione Balabiott78
- Data di inizio
Intendevo quella in dollari. Di quella in euro non ho trovato notizia nei gg scorsi
Si sa niente delle condizioni?
waltermasoni
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Fitch Rates Jaguar Land Rover's Proposed Unsecured Notes 'BB-(EXP)'
20 NOV 2019 06:06 AM ET
Fitch Ratings - London - 20 November 2019:
Fitch Ratings has assigned Jaguar Land Rover Automotive plc's proposed benchmark senior unsecured notes an expected 'BB-(EXP)' rating. The notes will be guaranteed by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited and will be used for general corporate purposes. The rating is in line with Jaguar Land Rover's (JLR) existing bonds, with which the notes are expected to rank pari passu.
The assignment of a final rating is contingent on the receipt of final documents materially conforming to information already reviewed.
The rating reflects JLR's weaker business profile relative to peers as risks increase in its markets, particularly in technology requirements as well as its investment in new models and platforms. The prospect of a disorderly Brexit and the spectre of US tariffs on car imports from Europe are additional risks. Fitch expects JLR's negative free cash flow (FCF) will continue until the financial year ending March 2021 (FY21), reflecting its intensive investment programme in electric powertrain, model replacement and new chassis architecture.
20 NOV 2019 06:06 AM ET
Fitch Ratings - London - 20 November 2019:
Fitch Ratings has assigned Jaguar Land Rover Automotive plc's proposed benchmark senior unsecured notes an expected 'BB-(EXP)' rating. The notes will be guaranteed by Jaguar Land Rover Limited and Jaguar Land Rover Holdings Limited and will be used for general corporate purposes. The rating is in line with Jaguar Land Rover's (JLR) existing bonds, with which the notes are expected to rank pari passu.
The assignment of a final rating is contingent on the receipt of final documents materially conforming to information already reviewed.
The rating reflects JLR's weaker business profile relative to peers as risks increase in its markets, particularly in technology requirements as well as its investment in new models and platforms. The prospect of a disorderly Brexit and the spectre of US tariffs on car imports from Europe are additional risks. Fitch expects JLR's negative free cash flow (FCF) will continue until the financial year ending March 2021 (FY21), reflecting its intensive investment programme in electric powertrain, model replacement and new chassis architecture.
waltermasoni
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S&P Global Ratings
Jaguar Land Rover Automotive Proposed Senior Unsecured Notes Rated 'B+'
20-Nov-2019 08:42 EST
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Table of Contents
LONDON (S&P Global Ratings) Nov. 20, 2019--S&P Global Ratings today assigned its 'B+' issue rating to the proposed senior unsecured notes to be issued by Jaguar Land Rover Automotive PLC (JLR). JLR plans to issue an expected €500 million of notes maturing 2024.
We expect JLR to use the proceeds from the proposed notes to bolster liquidity, noting that its $500 million senior unsecured notes matured on Nov. 15, 2019. We view this proposed issuance as aligning with JLR's funding strategy for fiscal year 2020 (ending March 31, 2020), as JLR management previously informed the market.
ISSUE RATINGS - RECOVERY ANALYSIS
Key analytical factors:
Our issue rating on JLR's existing senior unsecured notes and its proposed €500 million senior unsecured notes is 'B+'. The '3' recovery rating reflects our expectation of meaningful recovery (50%-70%; rounded estimate 65%) in the event of a default.
Although nominal recovery prospects may exceed 70%, we cap the recovery rating at '3' due to the unsecured nature of the debt instruments and also the potential for JLR to increase debt that could rank above the unsecured notes, for example the $700 million receivables securitization facility (we consider this facility to be a priority liability ranking ahead of the unsecured notes in a default).
Our default scenario assumes a deterioration in operating performance amid competitive market conditions, shifting consumer preferences, and delays in the introduction of new models, among other factors. We think this would lead to a steady decline in revenue, deteriorating profitability, weaker cash flow, and weaker liquidity.
We value the company as a going concern given its notable market positions and its strong brand name.
Jaguar Land Rover Automotive Proposed Senior Unsecured Notes Rated 'B+'
20-Nov-2019 08:42 EST
View Analyst Contact Information
Table of Contents
LONDON (S&P Global Ratings) Nov. 20, 2019--S&P Global Ratings today assigned its 'B+' issue rating to the proposed senior unsecured notes to be issued by Jaguar Land Rover Automotive PLC (JLR). JLR plans to issue an expected €500 million of notes maturing 2024.
We expect JLR to use the proceeds from the proposed notes to bolster liquidity, noting that its $500 million senior unsecured notes matured on Nov. 15, 2019. We view this proposed issuance as aligning with JLR's funding strategy for fiscal year 2020 (ending March 31, 2020), as JLR management previously informed the market.
ISSUE RATINGS - RECOVERY ANALYSIS
Key analytical factors:
Our issue rating on JLR's existing senior unsecured notes and its proposed €500 million senior unsecured notes is 'B+'. The '3' recovery rating reflects our expectation of meaningful recovery (50%-70%; rounded estimate 65%) in the event of a default.
Although nominal recovery prospects may exceed 70%, we cap the recovery rating at '3' due to the unsecured nature of the debt instruments and also the potential for JLR to increase debt that could rank above the unsecured notes, for example the $700 million receivables securitization facility (we consider this facility to be a priority liability ranking ahead of the unsecured notes in a default).
Our default scenario assumes a deterioration in operating performance amid competitive market conditions, shifting consumer preferences, and delays in the introduction of new models, among other factors. We think this would lead to a steady decline in revenue, deteriorating profitability, weaker cash flow, and weaker liquidity.
We value the company as a going concern given its notable market positions and its strong brand name.
kit_karson
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Cortesemente, potete confermarmi che da domani si acquista senza cedola?
Grazie
Grazie
martini royale
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martini royale
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martini royale
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TwinPeacks
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è un bond molto scambiato
ultimamente ha perso 5 figure....ma è in buona compagnia
la società è un pò in balia del discorso brexit
è un bond che seguo, ma non più di tanto....un rendimento 2,2 nn mi entusiasma...anche se ora, a quota 90, potrebbe diventare interessante
KlausC
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è un bond molto scambiato
ultimamente ha perso 5 figure....ma è in buona compagnia
la società è un pò in balia del discorso brexit
è un bond che seguo, ma non più di tanto....un rendimento 2,2 nn mi entusiasma...anche se ora, a quota 90, potrebbe diventare interessante
Se scade fra 4 anni e costa 88,70 (ultimo scambio) in realtà il suo rendimento lordo all'ultimo prezzo e 5,54%
, 2,2% è solo il facciale.Se non fosse 100k l'avrei già acquistato.
Se scade fra 4 anni e costa 88,70 (ultimo scambio) in realtà il suo rendimento lordo all'ultimo prezzo e 5,54%
Se non fosse 100k l'avrei già acquistato.
Viste le attuali condizioni di mercato .. credo che il titolo possa scendere ancora di qualche pp%....
Purtroppo il settore in cui opera non è attualmente dei migliori!
KlausC
Hic sunt Leones
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Non mi sono speigato: L'avrei già messo in ptf da tempo. Adesso meglio stare alla finestra e aspettare che finisca questa fottut@ emergenza CV.
SI, sono d'accordo!
giottotrader
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Stamani ho inserito un ordine di acquisto di questo titolo JLRA 26 NTS-S 4.5 XS1881005976 tramite operatore telefonico della banca.
Il titolo è sceso rispetto al prezzo limite inserito ma non ho ancora l'eseguito. La banca mi ha spiegato che si tratta di ordini off line che quindi inoltra ad altra sala operativa. Mi sembra strano che da stamani ad adesso (ore 14:44) l'ordine non sia ancora stato immesso sul mercato.
Penso mi sfugga qualcosa. Preciso che sono abilitato all'acquisto di questa tipologia di titoli.
Grazie a chi vorrà rispondere
Il titolo è sceso rispetto al prezzo limite inserito ma non ho ancora l'eseguito. La banca mi ha spiegato che si tratta di ordini off line che quindi inoltra ad altra sala operativa. Mi sembra strano che da stamani ad adesso (ore 14:44) l'ordine non sia ancora stato immesso sul mercato.
Penso mi sfugga qualcosa. Preciso che sono abilitato all'acquisto di questa tipologia di titoli.
Grazie a chi vorrà rispondere