主题:【原创】如果通用汽车破产 -- 晨枫
刚看到一篇短文。
Role of credit default swaps debated in GM's bankruptcy risk
文章提到GM避免破产现在面临的两大困难:持有CDS的对冲基金,和如何让九成的债主签字。
Or so the logic goes.
27亿美元的债券有CDS担保,基金们有让GM破产的冲动。
If speculators were trying to make money by trading swaps to bet on the odds of a GM bankruptcy, Backshall said, they would have cashed out long ago. And depending on the premiums paid for the remaining swaps, investors might not have much to gain from a default. Maybe a stock-for-bonds swap might be attractive, especially if GM and the U.S. Treasury sweeten the current offer, which GM said is equivalent to about 11 cents on the dollar.
对此有人不同意,认为通用的CDS价格近来一直很高,即使通用破产,靠买卖CDS也赚不到多少钱。还不如债转股来的划算。
"I think it's crazy," he said. "To expect the bondholders to find every mom and pop that has a GM bond and get 90% of them to agree is, I think, incredibly aggressive."
而另一个困难是让多达九成的人签字同意,在实际操作上也很难做到。
最后,
In other words, there might yet be an offer they can't refuse.
奥巴马=教父?!
- 相关回复 上下关系8
🙂UAW不占大头 晨枫 字180 2009-06-02 07:30:19
🙂汽车制造企业的破产对美国企业债市场会有什么样的影响? 思想的行者 字0 2009-05-03 01:01:10
🙂影响很大 晨枫 字24 2009-05-03 06:38:39
🙂【文摘】CDS和通用汽车破产
🙂这样的CDS属于金融破坏而不是金融服务 思想的行者 字113 2009-05-03 00:56:26
🙂是啊,一面是包赔的CDS,一面是保赔的债转股 晨枫 字84 2009-05-01 17:10:00
🙂奥巴马把CDS吃下来就解决问题了 任爱杰 字287 2009-05-02 07:00:55
🙂已经印了太多的钱了 晨枫 字58 2009-05-02 19:57:09