Hints and tips:
...Caixa Geral de Depósitos did manage to price €500m of the Tier 2 bonds on Thursday in spite of the boycott by these investors....
...The bank, alongside a separate bad bank, were created in 2014 from the failed remains of Banco Espirito Santo....
...In 2016, the government paid a further €3.9bn into state-owned Caixa Geral de Depósitos, the country’s largest bank, as part of a €5bn recapitalisation plan....
...Novo Banco, the lender created out of the failure of Portugal’s Banco Espírito Santo (BES) in 2014, is already the subject of long-running litigation from international investors including BlackRock and...
...The six international investors were bondholders in Novo Banco, the so-called good bank salvaged from the ruins of Banco Espírito Santo in 2014....
...Novo Banco and the “bad bank” were both created out of the resolution of Banco Espírito Santo, which failed in 2014....
...The deal culminated more than two years of efforts to sell Portugal’s third-largest lender, the so-called “good bank” salvaged from the ruins of Banco Espírito Santo in 2014....
...Like a magician trying to fool his audience, Portugal’s government has turned to sleight of hand in its €5bn recapitalisation of Caixa Geral de Depósitos....
...Novo Banco was created from the failure of Espirito Santo in 2014, and Portuguese banks have not accessed bond markets since losses were imposed at the end of 2015....
...“It’s one of the few segments on the residential side that is doing well,” said Marcelo da Costa Santos, chief executive of Engebanc Real Estate, a consultancy....
...who this week began applying to Lisbon’s administrative court for an injunction to stop the planned sale of 75 per cent of Novo Banco, the so-called good bank salvaged from the ruins of Banco Espírito Santo...
...State-owned Caixa Geral de Depósitos is scheduled to place €1bn in subordinated debt with institutions in a move towards cleaning up a banking sector beset by bad loans and problem assets....
...Espírito Santo group’s hospital business for €460.5m....
...Fitch said a planned €5bn recapitalisation package for state-owned Caixa Geral de Depósitos, the largest bank, would involve €2.7bn of direct public support....
...represent the latest step forward for Portugal’s undercapitalised banking sector, following an agreement last month between the Lisbon government and the EU over a €5bn recapitalisation package for state-owned Caixa...
...by the brand name Fidelidade, and used it to buy the distressed Espírito Santo group’s hospital business for €460.5m....
...The European Central Bank, mindful of Banco Espírito Santo’s experiences in Angola, wants BPI to reduce its exposure there....
Price tag needs to be lower for the deal to make sense
...banks, already undercapitalised and loaded with bad debt, are bracing for heavy losses from Lisbon’s so far unsuccessful attempts to sell Novo Banco, the lender salvaged from the collapse of Banco Espírito Santo...
...government has dismissed calls for the nationalisation of Novo Banco as the country’s financial authorities make a second attempt to sell off the so-called “good bank” salvaged from the ruins of Banco Espírito Santo...
...Letter in response to this report Oi is still alive and a part of the Brazilian economy / From Suzana Santos...
...used it to buy the hospital business Espírito Santo Saúde for €460.5m....
...Why the interest in a market that still looks overbanked when state-owned Caixa Geral de Depósitos and the likes of Santander Totta are included?...
...As part of state-owned Caixa Geral de Depósitos, Portugal’s largest banking group, Caixagest was a beneficiary of a huge outflow of funds from the BES group and Novo Banco....
...The figures make Novo Banco Portugal’s third-largest lender by assets after state-owned Caixa Geral de Depósitos and Millennium BCP, which had previously been in second place....
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