While the Bank of Portugal has said that Lone Star's offer to buy the "good bank", which was saved from the collapse of Banco Espirito Santo, was probably the best option to ensure the financial stability of the financial system, the authorities are weary of Lone Star demanding a state ...
Novo banco wants to buy back eight senior bond issues at a deep discount to par to bolster its balance sheet and reduce interest expense. Novo Banco, carved out of the collapse of Banco Espirito Santo in 2014, is seeking to buy back up to 鈧 500m of senior debt, some of which is ...
Resolution Fund, Reuters reported. The deal, which is being financed by a syndicate of seven Portuguese banks, adds to the €3 billion that the Resolution Fund, which owns 25% of Novo Banco, has invested since 2017. Novo Banco was formed following the collapse ofBanco Espirito Santoin 2014...
Espirito Santo's problems spooked markets in July and ballooned into Portugal's biggest banking scandal. The government put up 4.9 billion euros ($6.4 billion) to prevent the bank's collapse, raising questions about how regulators were apparently hoodwinked. Sponsored Stories You M...