Raport de Analiza Obligatiuni International Leasing ... - Kmarket.ro
Raport de Analiza Obligatiuni International Leasing ... - Kmarket.ro
Raport de Analiza Obligatiuni International Leasing ... - Kmarket.ro
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OBLIGATIUNI INTERNATIONAL LEASING<br />
Dobanda se plateste semestrial <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> catre emitent, platile urmand a fi facute<br />
prin intermediul retelei <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> agentii a Bancii Comerciale Romane. Nivelul dobanzii<br />
aferent fiecarui cupon va fi facut public prin intermediul a doua ziare<br />
<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> circulatie nationala si se va plati in RON. Plata principalului se face in in<br />
patru transe egale. Avand in ve<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>re acest lucru, trebuie luat in consi<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>rare<br />
faptul ca baza <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> calcul si <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> plata a dobanzii semestriale va fi valoarea<br />
reziduala a principalului, ramasa <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> rambursat. Acest lucru poate fi benefic<br />
unui investitor care nu este dispus sa isi imobilizeze tot capitalul in aceste<br />
obligatiuni pana la sca<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>nta.<br />
Dobanda obligatiunilor <st<strong>ro</strong>ng>International</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>Leasing</st<strong>ro</strong>ng> asigura unul din cele mai mari<br />
randamente oferite <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> instrumentele cu venit fix din tara noastra la acest<br />
moment:<br />
Emisiune obligatiuni<br />
Cupon<br />
curent<br />
Cupon estimativ*<br />
Formula <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> calcul<br />
<st<strong>ro</strong>ng>International</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>Leasing</st<strong>ro</strong>ng> (4 ani) 10,75%* - BUBOR6M+2,25%<br />
BRD (3 ani) 7,94% 7,34% BUBOR6M<br />
Finansbank (3 ani) 9,22% 6,88% (BUBID6M+BUBOR6M)/2+0,75%<br />
Hexol Lubricants (2 ani) 7,50% 8,63% (BUBOR6M+BUBID6M)/2+2,5%<br />
Raiffeisen Bank (3 ani) 8,91% 6,63% BUBID6M+BUBOR6M)/2+0,5%<br />
Timisoara (5,5 ani) 8,25% 8.25% Fixa<br />
Aiud (3,5 ani) 9,00% 8,37% (BUBID3M+BUBOR3M)/2+2%<br />
Situatia este asemanatoare si in cazul randamentelor oferite <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> alte tipuri<br />
<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> plasamente cu venit fix:<br />
Indicator<br />
Rata anuala a dobanzii<br />
<st<strong>ro</strong>ng>Obligatiuni</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>International</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>Leasing</st<strong>ro</strong>ng> SA (4 ani) 10,75%<br />
<st<strong>ro</strong>ng>Obligatiuni</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> stat cu dobanda (2 ani) 7,50%<br />
Depozit la termen BCR 7,00%<br />
Depozit la termen BRD 4,75%<br />
Riscuri<br />
Riscul <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> neplata in cazul emisiunii <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> obligatiuni analizata este redus. <st<strong>ro</strong>ng>International</st<strong>ro</strong>ng><br />
<st<strong>ro</strong>ng>Leasing</st<strong>ro</strong>ng> se afla intr-o pozitie fericita din acest punct <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> ve<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>re,<br />
avand <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>ja un istoric foarte bun ca emitent <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> obligatiuni. Societatea a mai<br />
<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>rulat inca doua emisiuni <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> obligatiuni pana acum, ambele fiind incheiate<br />
cu succes; platile dobanzilor si principalului pentru aceste emisiuni s-au<br />
facut <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> fiecare data la timp, fara intarzieri.<br />
<st<strong>ro</strong>ng>Obligatiuni</st<strong>ro</strong>ng>le sunt asigurate <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> BCR Asigurari, societate membra a grupului<br />
Bancii Comerciale Romane—prezenta ce ofera garantii suplimentare investitorilor.<br />
In cei 10 ani <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> prezenta pe piata <strong>ro</strong>manesca (societatea a aniversat recent<br />
un <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>ceniu <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> activitate), <st<strong>ro</strong>ng>International</st<strong>ro</strong>ng> <st<strong>ro</strong>ng>Leasing</st<strong>ro</strong>ng> a <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>mostrat capacitatea <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng><br />
a se mentine si a creste pe o piata a leasing-ului intr-o continua <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>zvoltare<br />
si caracterizata <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> o concurenta in crestere, in special din partea grupurilor<br />
bancare puternice.<br />
5<br />
Domeniul <st<strong>ro</strong>ng>de</st<strong>ro</strong>ng> activitate al emitentului poate fi consi<st<strong>ro</strong>ng>de</st<strong>ro</strong>ng>rat un avantaj daca
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