Monday December 19 looks set to be a red letter day for hundreds caught out in the good bank/ bad bank carve up following the collapse of BES in 2014.
Not only is the hard-fought deal for commercial paper holders expected (finally) to be officially announced (click here), but good bank Novo Banco is also paying back senior bonds ‘guaranteed by the State’.
According to Lusa, the total value of bonds paid back ‘ahead of time’ now comes to €1.7 billion.
€1 billion was repaid last month, and today the bank under António Ramalho has confirmed the repaying of a further 14.000 bonds, amounting to €700 million.
News sources explain that this brings Novo Banco’s ‘debts’ to the State down by almost half, from €3.5 billion to just €1.8 billion.
The news came in a short notice posted on the official site of securities market commission CMVM, as the fate of Novo Banco remains ‘hanging in the balance’ until early next year (click here).
As noticiasaominuto outlined in its report this morning, we still do not know for certain who will be buying the ‘good bank’ – for an undoubted major loss to the State – but at least this has not stopped directors making decisions about the future.
