BANCO GALICIA 2019 - Banco Comafi

BANCO GALICIA 2019
Fixed Income Report
Sales and Trading:
Juan Jose Aldazabal
Estanislao Diaz Saubidet
(5411) 4328 5000
(5411) 4328 5000
JuanjoA@Comafi.com.ar
EstanisD@Comafi.com.ar
Javier Gourdy Allende
Jorge A. Oteiza
(5411) 4328 5000
(5411) 4328 5000
JavierG@Comafi.com.ar
JorgeO@Comafi.com.ar
14 November 2014
1- Bco Galicia 2019
Security Description
Payment Schedule
Security Information
Bco Galicia 19
Issue:
2004-01-01
Capital: 100
Asset Class
Corporate
From:
To:
Coupon
Value Date
2014-11-14
2004-07-01
2010-07-01
Int: 6% - Capit: 5%
Settlement Date
2014-11-19
2011-01-01
2011-01-01
Int: 6% - Capit: 5%
2011-07-01
2013-01-01
Int: 6% - Capit: 5%
2013-07-01
2013-07-01
Int: 6% - Capit: 5%
2014-01-01
2014-01-01
Int: 11% - Capit: 5%
2014-07-01
2018-07-01
Int: 11% - Capit: 5%
2019-01-01
2019-01-01
Int: 11% - Capit: 5%
Asset Name
ISIN
Quote Currency
Country
USP09669BR53
USD
Argentina
Legislation
NY
Flow Currency
USD
Cash Sweep
YES
Callable
Call Type
Yes
American
Date
Coupon Description
Coupon
Last Payment
2014-07-01
USD 5.6375
Last Amortization
2014-07-01
USD 0.0000
Rate Type
Step-Up
Last Interest
2014-07-01
USD 5.6375
Frequency
Semi-Anual
Next Payment
2015-01-02
USD 5.7784
Day Count
Day Count
Next Amortization
2015-01-02
USD 0.0000
Next Interest
2015-01-02
USD 5.7784
Maturity
2019-01-02
Settlement On
2014-11-19
Security Analysis
Price
108.8
Yield
13.34%
Dirty Price
M. Duration
120.93
3.14
Spread
11.82
Residual Value
76.2%
Tech Value
111.51
Parity
108.45
Accrued Int.
November 14, 2014
4.43
Capital Int
2.19
Banco Comafi - Research Department
2- Bco Galicia 2019
Yield to Call Analysis
10
galicia19 Yield to Call
100.0000
●
0
2014-01-01
●
−40
−30
−20
%
−10
Price
●
●
●
Call Schedule - Call From
Date
●
●
●
o Yield to Call
− Yield to Maturity
●
●
01/15
07/15
01/16
07/16
01/17
07/17
01/18
07/18
01/19
Date
Price-Yields
November 14, 2014
Price
108.8
Yield Maturity
13.34
Yield to Next
NA
Yield to Worst
NA
Banco Comafi - Research Department
3- Bco Galicia 2019
Price-Yield Sensitivity Analysis
11.90
114.052
10.40
114.005
12.00
113.677
10.50
113.628
12.10
113.303
10.60
113.252
12.20
112.931
10.70
112.879
12.30
112.56
10.80
112.506
12.40
112.191
10.90
112.135
12.50
111.824
11.00
111.766
12.60
111.458
11.10
111.398
12.70
111.093
11.20
111.032
12.80
110.73
11.30
110.667
12.90
110.368
11.40
110.304
13.00
110.008
11.50
109.942
13.10
109.649
11.60
109.582
13.20
109.292
11.70
109.223
13.30
108.936
11.80
108.865
13.34
108.8
11.82
108.8
13.40
108.582
11.90
108.51
13.50
108.229
12.00
108.155
13.60
107.878
12.10
107.802
13.70
107.527
12.20
107.45
13.80
107.179
12.30
107.1
13.90
106.832
12.40
106.752
14.00
106.486
12.50
106.404
14.10
106.141
12.60
106.058
14.20
105.798
12.70
105.714
14.30
105.457
12.80
105.371
14.40
105.117
12.90
105.029
14.50
104.778
13.00
104.689
14.60
104.44
13.10
104.35
14.70
104.104
13.20
104.012
14.80
103.769
13.30
103.676
112
Price
110
Spread
November 14, 2014
104
106
108
$
Price
114
Sensitivity Table
Yield
12.0
12.5
13.0
13.5
14.0
14.5
%
Banco Comafi - Research Department
4- Bco Galicia 2019
Future Cashflow
Date
2015-01-02
2015-07-01
2016-01-04
2016-07-01
2017-01-02
2017-07-03
2018-01-02
2018-07-02
2019-01-02
November 14, 2014
Coupon
USD 5.7784
USD 5.9229
USD 6.0710
USD 6.2227
USD 6.3783
USD 6.5378
USD 6.7012
USD 6.8687
USD 138.2491
Past Cashflow
Date
2004-07-01
2005-01-03
2005-07-01
2006-01-02
2006-07-03
2007-01-02
2007-07-02
2008-01-02
2008-07-01
2009-01-02
2009-07-01
2010-01-04
2010-07-01
2011-01-03
2011-07-01
2012-01-03
2012-07-02
2013-01-02
2013-07-01
2014-01-02
2014-07-01
Coupon
USD 3.0000
USD 3.0750
USD 3.1519
USD 3.2307
USD 3.3114
USD 3.3942
USD 3.4791
USD 3.5661
USD 3.6552
USD 3.7466
USD 3.8403
USD 3.9363
USD 4.0347
USD 45.4329
USD 3.0000
USD 3.0750
USD 3.1519
USD 3.2307
USD 16.4523
USD 3.0000
USD 5.6375
Banco Comafi - Research Department