Portugal issues more debt with negative interests

ECO News,

Portugal raised 1,750 million euros in the first 2017 Treasury bills auction. Rates have decreased, placing the issuance with a 12-months maturity, once again, at negative interests.

NB: Apollo doesn’t have a binding offer yet

ECO News,

The negotiation continues this week, but the Apollo/Centerbridge consortium is still evaluating Novo Banco and, therefore, doesn’t have a binding offer yet. Lone Star is still the only runner.

SB and Social Security will finance TSU decrease

ECO News,

Only in 2018 will the decrease in the Single Social Tax (TSU) be fully financed by the State Budget (SB). In 2017, the financing will be assured equally by the SB and Social Security.

BCP may use the 2018 profits to pay dividends

ECO News,

The prospectus for BCP’s capital increase was approved this Thursday by CMVM. The bank will accelerate the return to normalization and intends to start repaying dividends based on the 2018 accounts.

Banco CTT foresees a capital increase in 2017

ECO News,

This will be the third capital increase since the bank’s was launched last year. According to Jornal de Negócios, the capital increase should happen during the first semester of 2017.

Portugal hires banks to issue ten-year bonds

ECO News,

Portugal has instructed several banks to issue their first ten-year bonds of 2017. The Portuguese Treasury hopes to raise 3,000 million euros through banking syndicate.

Mário Centeno: NB’s settlement is inconceivable

ECO News,

Mário Centeno is focused on selling Novo Banco, but that doesn’t keep him from considering nationalization, since the ministry cannot be held “hostage of solutions”. Settlement is out of the question.

BPI sells its control of BFA in Angola

ECO News,

Unitel, a company headed by Isabel dos Santos, signed this Tuesday the acquisition agreement of 2% of BFA to BPI; Mário Silva will replace Fernando Ulrich as the bank’s chairman.

Portuguese debt interests surpass 4%

ECO News,

After suffering an increase of over 10 points, the ten-year Portuguese bond rate surpasses the 4% limit, which hadn’t happened since February 2016.

CGD’s recapitalization: phase one is “concluded”

ECO News,

The first stage of CGD’s recapitalization, contemplating 1,445 million euros, has been concluded. In a second phase, there will be over 2.7 billion euros and another billion euros’ in high risk debt.

CGD should have a new administration next week

ECO News,

During the interview to the Portuguese newspaper DN and radio station TSF, Mário Centeno does not state if CGD’s recapitalization will have an impact on the deficit, for which he claims credit.

“Novo Banco will not have State guarantees”

ECO News,

This is a statement made by the Portuguese minister of Finance Mário Centeno, in an interview to Portuguese newspaper DN and radio station TSF, casting doubts about Novo Banco’s acquisition process.