Figure 2 1: Indicative list of outstanding Greek Government Bonds 20
Figure 2 2: Indicative list of outstanding US Treasury Notes 20
Figure 2 3: Indicative list of outstanding US Treasury Bills 21
Figure 2 4: BMW Finance 3-year corporate bond 22
Figure 2 5: Folli Follie Group Convertible bond 23
Figure 2 6: Motor Oil Finance PLC Callable Bond 24
Figure 2 7: 10Y Greek Government Bonds Yield Curve 28
Figure 2 8: Types of Yield Curves 29
Figure 3 1: World economy - Real GDP 32
Figure 3 2: GDP Growth and the Economic Sentiment Indicator 2008 Q1 - 2013 Q4 34
Figure 3 3: Change in responsiveness to OECD recommendations 35
Figure 3 4: Unemployment Rates 36
Figure 3 5: Deposits in Greece (excluding the central government and non-residents) 37
Figure 3 6: Credit to non-financial corporations and households by MFIs in Greece 38
Figure 3 7: Greece 10-Year yield spread over Germany 39
Figure 3 8: Development in NPL ratios per loan category 40
Figure 4 1: HTOGA 7.785 - 07 February 2018 - Description 42
Figure 4 2: OTE Group Structure 43
Figure 4 3: OTE Group Shareholders' Structure (31 December 2016) 44
Figure 4 4: OTE Group Gearing ratio 46
Figure 4 5: OTE Group Long Term Borrowings 46
Figure 4 6: OTE Group Debt Maturity Profile 47
Figure 4 7: HTOGA 7 7/8 – 7 February 2018 – Historic Price Chart 48
Figure 4 8: ELPEGA 8 – 10 May 2017 – Description 49
Figure 4 9: Hellenic Petroleum Group's Total borrowings (amounts in thousands euros) 51
Figure 4 10: Maturity of Group's non-current borrowings 52
Figure 4 11: Group's gross borrowings by maturity (amounts in million euros) 52
Figure 4 12: ELPE Group Drawn Credit Facilities by Source 54
Figure 4 13: ELPEGA 8 – 10 May 2017 – Historic Price Chart 55
Figure 4 14: MOHGA 5.125 – 15 May 2019 – Description 57
Figure 4 15: Motor Oil (Hellas) Shareholder structure 58
Figure 4 16: Motor Oil's Gearing Ratios 59
Figure 4 17: Motor Oil (Hellas) remaining contractual maturity of financial liabilities 60
Figure 4 18: MOHGA 5.125 – 15 May 2019 - Historic Price Chart 61
Figure 4 19: TITKGA 8.75 – 19 January 2017 – Description 62
Figure 4 20: Titan Cement Company S.A. presence 63
Figure 4 21: Titan Group Net Debt 2009 -2012 65
Figure 4 22: Titan Credit Facilities by Type 66
Figure 4 23: Maturity profile of Titan Group indebtedness 66
Figure 4 24: TITKGA 8.75 – 19 January 2017 – Historic Price Chart 67
Table 2 1: Credit rating scales comparison 27
Table 4 1: HTOGA 7.875 – 07 February 2018 - Description 42
Table 4 2: ELPEGA 8 – 10 May 2017 – Description 49
Table 4 3: MOHGA 5.125 – 15 May 2019 - Description 56
Table 4 4: Optional Redeption prices 56
Table 4 5: TITKGA 8.75 – 19 January 2017 - Description 62
Financial management and Accounting, Investment Analysis and Portfolio Management. / VASILIOU D.
Από τα πρώτα χρόνια της χρηματοπιστωτικής κρίσης στην Ελλάδα και σε περιβάλλον ύφεσης, ορισμένες από τις ελληνικές μη τραπεζικές εταιρείες υψηλής κεφαλαιοποίησης και εισηγμένες στο Χρηματιστήριο Αθηνών, διαπίστωσαν την ανάγκη αναζήτησης εναλλακτικών τρόπων για την άντληση ρευστότητας έναντι των παραδοσιακών τραπεζικών δανείων.
Είναι σημαντικό με αυτή τη διατριβή να εξηγηθούν οι λόγοι για τους οποίους οι τραπεζικοί δανεισμοί δεν ανταποκρίνονταν στις ανάγκες των επιχειρήσεων, οι εναλλακτικοί τρόποι απόκτησης ρευστότητας, οι λόγοι για τους οποίους οι εταιρείες αναζητούσαν ρευστότητα στο συγκεκριμένο χρονικό διάστημα καθώς και το μέγεθος της αποδοχής του επενδυτικού κοινού.
Για να απαντήσουμε στα παραπάνω ερωτήματα, θα μελετήσουμε περιπτώσεις εταιρειών που έχουν πρωτοστάτησαν στην έκδοση εταιρικών ομολόγων βάσει του αλλοδαπού δικαίου και ISIN και την πορεία των εν λόγω εκδόσεων κατά τη διάρκεια της διαπραγμάτευσής τους στην αγορά ομολόγων.
Since the first years of the financial crisis in Greece and amid a recession environment, some of the Greek non-financial, high-capitalization and listed in the Athens Stock Exchange companies, detected the need to search for alternative ways to raise liquidity versus traditional bank lending.
It is important through this dissertation to explain the reasons why bank lending did not meet the needs of the companies, the alternative ways established of obtaining liquidity, the reasons why companies sought liquidity raising at the specific period of time as well as the size of acceptance of the investing public.
To respond to the above queries, we will study cases of companies that have been leading the issuance of corporate bonds under foreign law and ISIN, and the course of these issues during their trading on the bond market.
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Issuance of high-yield corporate bonds by Greek companies during the financial crisis Description: MANIOTIS-G-DISSERTATION.pdf (pdf)
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Issuance of high-yield corporate bonds by Greek companies during the financial crisis - Identifier: 90057
Internal display of the 90057 entity interconnections (Node labels correspond to identifiers)
Issuance of high-yield corporate bonds by Greek companies during the financial crisis