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Pri de Silva

Experienced chairman, CEO, president, and executive committee member in various companies

There are no specific search results available regarding Pri de Silva, Senior Credit Research Analyst at Bloomberg LP. Therefore, I cannot provide detailed information about this individual. If you have any other questions or need information on a different topic, feel free to ask.

Highlights

Jul 4 · linkedin

Sri Lanka’s Debt Restructuring Terms

  • Not work related * Here are some of the key terms provided by the government of Sri Lanka on its agreement with the bondholder steering committee. The agreement is subject to approval by the IMF and Official Creditor Committee.
  1. 28% haircut on principal
  2. 11% haircut on past-due interest
  3. 1.8% consent fee (of par value)
  4. New bonds to have a below-market coupon through 2032
  5. The haircut on principal could vary based on average nominal GDP between 2025-2027 **

** The real key is: Based on GDP growth, the ultimate haircut could vary between 15-40%. The 28% corresponds with average GDP of $88.6 billion, which is the IMF’s baseline. Nominal GDP was $84.4 billion in 2023.

PS: I wonder what sort of analysis and discount rates people used when they were throwing 30-35% recoveries on this. Had to ask. Source =

Jun 3 · linkedin

Norinchukin - the CLO Whale - Considering a Balance Sheet Restructuring

#Norinchukin Bank is kicking the tires on restructuring its $360 billion investment securities portfolio (52% dollar-denominated), which is a positive in the long-run, after its funding costs shot up. The chart below hints as to why. The bank is also a large repo counterparty with ~$90 billion in borrowings. So, let's hope that any potential deleveraging or restructuring is done in an orderly fashion.

I happened to me in Tokyo last week when news of Norinchukin Bank's potential capital raise broke and had a chance to sit down with the company and the report below includes details from that conversation as well.

https://lnkd.in/gjVJb5BJ

Bloomberg Intelligence #Banks #interestraterisk

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Pri de Silva
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Experience

Director at Edelman Financial Engines (August 2021 - Present)
President, Retail at TD Ameritrade (September 2017 - January 2021), President Scottrade, Inc; President Scottrade Investment Management (February 2016 - September 2017)

Education

Bachelor of Science (BS) in Business Administration and Management, General from University of Massachusetts Dartmouth (1979 - 1984)

Location

Hong Kong, Hong Kong SAR