The SCF has not entered into any liabilities swaps for the new fixed-rate OF issuances, instead opting to amend the
asset swaps structure for the programme to hedge the fixed-rate received on the underlying Belgian residential loan assets against both the post-swap floating-rate interest due on the majority of the OF and the fixed-rate due on the new OF.
The in-principle agreement involving huge
asset swaps is part of a major restructuring of Germany's energy market as Europe's powerhouse switches from conventional to renewable power.
The Russian gas monopoly might also enter into
asset swaps with Mitsubishi and Mitsui.
Core operating profit last year fell by 13% to PS5.73bn compared with a year ago, after a series of
asset swaps with Swiss rival Novartis, which included the sale of its ofatumumab cancer treatments.
The deal with Novartis follows a previous series of
asset swaps between the two companies that completed earlier this year.
Gazprom is building a global strategic alliance with energy major Royal Dutch Shell that will include
asset swaps and allow the Russian gas giant to penetrate new markets, its chief executive told Reuters.
However, last week saw a rash of deals in the healthcare industry, including value-creating
asset swaps involving Glaxo, Novartis and Lilly, an approach by Valeant for Botox-maker Allergan, and Zimmer's purchase of Biomet.
The 5.0 percent April 1, 2019 bonds have been priced at 98.945 for a yield of 5.2425 percent, in line with the guidance of
asset swaps plus 155 basis point area, and 177 bps over March 2019 Australian Commonwealth Government bonds.
Established in 1982 and based in New York, Waller Capital Partners is a boutique investment bank providing M&A advisory, private placements,
asset swaps, restructurings and valuation services to the telecoms, media and technology sectors.
Specifically, exploration, development and production opportunities, debt and equity finance,
asset swaps and data set exchanges will be reviewed in the course of finalizing terms.
In 2006 Gazprom and Sonatrach pledged to cooperate under a memorandum of understanding in Algeria, Russia, and overseas on exploration, production, transportation, and
asset swaps.
