The Portuguese bank issued on Monday €275 million in senior preferred debt, with an annual interest rate of 4.25%.
Novo Banco issued on Monday a total of €275 million in senior preferred debt, with an annual interest rate of 4.25%. The information is contained in a statement sent to the Securities and Exchange Commission (CMVM).
“Novo Banco, SA informs that it has today issued a senior preferred note in the amount of € 275 million, with maturity on September 15th 2023 and an early redemption option by the Bank on September 15th 2022. The notes have an annual interest rate of 4.25%,” the statement said.
According to the same statement, “the notes were issued in a private placement transaction and placed with institutional international investors”. Novo Banco also explained that the senior issuance was carried out “to comply with the Minimum Requirements for own funds and Eligible Liabilities (“MREL”) requirements.”