Novo Banco anticipates the reimbursement of over 700 million in debt guaranteed by the Portuguese state
The Portuguese bank had previously reimbursed one billion euros in debt guaranteed by the state. After this new reimbursement, the bank will have 1,800 million in securities which mature in 2017.
Novo Banco has once again anticipated the reimbursement of debt guaranteed by the Portuguese state. After the two billion euros from last month, the “liquidity buffer” led the institution to reimburse over 700 million euros.
The bank reimbursed this Monday over 700 million euros of senior bonds guaranteed by the Portuguese State. This reimbursement was confirmed to CMVM and comes from the bank’s liquidity buffer, aiming to also save on the costs associated with the state’s guarantee.
This is the second time Novo Banco, which is amid its sale process, anticipates debt guaranteed by Portugal. The first reimbursement happened in the beginning of November, and it was of one billion euros.
These securities belong to a set of three issuances of 3,500 million euros. Concerning issuances guaranteed by the Portuguese state, Novo Banco has, after this reimbursement, a total of 1,800 million euros in debt securities guaranteed by the state.
The amount still to be paid is distributed by two distinctive lines of bonds issued by the bank; those debt lines reach maturities by the end of 2017.
