BNP ready to discount E1.8bn to finance E4.3bn of E5.1bn bailout, why?
Now Playing: Too much dept, bond offers on the market
Topic: Poverty
BNP offers discount shares 30% down
BNP has to offer new shares to cover Bailout dept for about 40 Euros with 30% discount
Source PDF (F): DirectNice.com
n°134 - mercredi 30 Septembre 2009 (edition PDF p. 08)
IMF 2010 Banks $1.5 trillion loss
Banks around the world -- especially in Europe --
still are likely to face additional write-downs of $1.5 trillion
by the end of next year 2010, the IMF said.
source: online.wsj.com
Fact List BNP
O French government co-owned Bank (15%)
O Dept, Gov bailout; E5.1bn / $7.5bn
O Bonuses for Employees E1bn
O Interest payment only to Gov E226m for 7 months
Market public dept financing ?
O E4.3bn / $6.3bn new shares ( nouvelles actions)
O Share price: about E40 - 30% discount !
O Discount loss : E1.8bn / $2.6bn
Why selling with 30% loss?
Market overrun with dept and bonds without future,
direction "friend business" - government security
Danger: Wealth-currency-production destruction
The production companies get their credits cancelled
to refinance bankrupt banks. What, for a second round
Bank bailouts, no conditions fixed, destruction of
wealth and currency through non productive,
parallel bank economy restarting Casino gambling
worldwide. IMF says $1.5 trillion bank loss to
expect end of 2010. Entrepreneurs why go to work ?
Many Banks will need money
Christophe Nijdem, a banking analyst at Alphavalue in Paris,
called the stock issue’s timing “judicious.”
“They had a window of opportunity,” he said.
“A lot of banks will turn to the market in the months to come,
and it’s first come, first serve.”
Mr. Nijdem added that, compared to American banks, European banks
were more leveraged, and had to play catch up. Major Western banks
are forecast to post losses of almost $2.5 trillion for the
period 2007-2010, according to the International Monetary Fund
source: socialone.info
Posted by solarlife
at 3:55 PM EDT
Updated: Wednesday, 30 September 2009 5:03 PM EDT
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