Obbligazioni societarie La saga della famiglia Espírito Santo: cosa succederà alle obbligazioni BES ed ESFG?

Topgun1976 ha scritto:
Ieri cè stata un'altra conferma da Parte della Bdp sui senior,nessuna conferma dalla cnmv
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Ecco il testo del comunicato BdP:

Esclarecimento sobre a deliberação do Conselho de Administração do Banco de Portugal de 14 de agosto de 2014

Tratamento comercial dos clientes de retalho do Banco Espírito Santo que sejam detentores de dívida na forma de obrigações não subordinadas anteriormente emitidas pelo Banco Espírito Santo ou que tenham subscrito títulos de dívida emitidos por entidades do Grupo Espírito Santo

1. As obrigações não subordinadas que tenham sido emitidas pelo Banco Espírito Santo serão reembolsadas pelo Novo Banco na data do seu vencimento, visto que os direitos de crédito dos clientes relativos a essas obrigações foram transferidos para o Novo Banco.

Nos termos da deliberação hoje aprovada pelo Conselho de Administração do Banco de Portugal, qualquer operação de recompra antecipada destas obrigações (antes da data do seu vencimento) deve inserir-se na gestão comercial de clientes por parte do Novo Banco, em condições a definir pelo respetivo Conselho de Administração.

Estas condições têm de dar cumprimento às recomendações já emitidas pelo Banco de Portugal, devendo, em particular, assegurar um impacto positivo ou neutro ao nível dos resultados, rácios de capital e posição de liquidez do Novo Banco.


2. Obrigações subordinadas ou outros títulos representativos de dívida subordinada emitidos pelo Banco Espírito Santo não foram transferidos para o Novo Banco.


3. Todas as obrigações ou outros títulos representativos de dívida não emitidos pelo Banco Espírito Santo devem ser reembolsados pelos respetivos emitentes, uma vez que são estes os devedores dos créditos relativos a esses títulos ou obrigações.

Nos termos da já referida deliberação do Conselho de Administração do Banco de Portugal, eventuais propostas de tratamento dos clientes de retalho que detenham estes instrumentos, de que o Novo Banco não é devedor, e que se revelem importantes para a preservação da relação de confiança com os clientes, dependem de condições que têm de ser definidas pelo Conselho de Administração do Novo Banco.

Estas condições têm de dar cumprimento às recomendações já emitidas pelo Banco de Portugal, devendo, em particular, assegurar um impacto positivo ou neutro ao nível dos resultados, rácios de capital e posição de liquidez do Novo Banco.


4. Relativamente aos pontos 1 e 3, importa ainda referir que:
O Novo Banco terá de desenvolver e implementar procedimentos de controlo que garantam o cumprimento das condições que venham a ser estabelecidas, bem como a sua imediata demonstração com vista à verificação pelo auditor externo, pelo órgão de fiscalização do Novo Banco e pelas autoridades competentes.
Eventuais propostas comerciais que venham a ser definidas pelo Conselho de Administração do Novo Banco não são aplicáveis às partes relacionadas com o BES (entre as quais acionistas com uma participação social superior a 2% e administradores), cujos créditos não tenham sido transferidos para o Novo Banco por se tratar de créditos subordinados.

Lisboa, 14 de agosto de 2014
 
Credit Suisse Played Role In Espirito Santo Collapse

GERTRUDE CHAVEZ-DREYFUSS, REUTERS
AGO. 17, 2014 9:48 PM | 168 |

Thomson Reuters

A man walks past an office of Portuguese bank Banco Espirito Santo in downtown Lisbon

NEW YORK (Reuters) - Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles and then sold to retail customers of Portugal's Banco Espirito Santo SA , the Wall Street Journal reported Sunday.
In the article in its online edition, the newspaper cited corporate filings and people familiar with the situation, saying customers didn't know the investment vehicles were loaded with debt issued by various Espirito Santo companies and served as a mechanism to finance the Portuguese conglomerate.

Credit Suisse was not immediately available for comment when contacted by Reuters in Switzerland. WSJ.com said representatives of Credit Suisse and Espirito Santo declined to comment on the story.

Troubled Banco Espirito Santo is Portugal's second largest bank. The Portuguese government said it will extend a loan of 3.9 billion euros ($5.2 billion) to the bank resolution fund in charge of rescuing Banco Espirito Santo.

WSJ's website also said it was unclear about Credit Suisse's direct role in selling the securities to bank customers.

Portuguese regulators investigating the Espirito Santo case have identified at least four offshore investment vehicles whose securities, mostly preferred shares, were sold with the help of Credit Suisse to Espirito Santo customers, WSJ.com reported, citing sources familiar with the investigation.

WSJ.com said three of the investment firms - Top Renda, EuroAforro Investments, and Poupanca Plus Investments - are based in Jersey, a tax haven in the Channel Islands.

According to corporate records filed with the Jersey Financial Services Commission quoted by WSJ.com, Credit Suisse served as "arranger and dealer" for those three vehicles, a role that included not just underwriting securities but also handling administrative and financial needs.

The fourth vehicle, EG Premium, is in the British Virgin Islands, also a tax haven.

TANGLED WEB

The people familiar with the investigation quoted by WSJ.com said all four entities are controlled, at least in part, by Swiss financial company Eurofin Holding SA, also partly-owned by Espirito Santo until 2009 and has had close business ties to the collapsed family-owned conglomerate.

The four investment firms invested primarily in debt issued by Espirito Santo companies, including the Portuguese bank, its Luxembourg-based parent and an Angolan mining and infrastructure investment company called Escom, according to corporate filings and internal Eurofin documents reviewed by WSJ.com

Credit Suisse had agreements dating back to the mid-2000s with EuroAforro and Top Renda to handle the issuance of up to $2.5 billion of each of their preference shares, WSJ.com reported, citing corporate filings.

Those programs were still active as recently as last year, the same filings showed. Credit Suisse also was responsible for Poupanca's preferred-share sales, according to the filings.

The Swiss bank also paid the three vehicles' operating expenses, including legal and audit fees and administrative costs, WSJ.com said citing filings.

(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Alice Baghdjian in Zurich; Editing by Sophie Hares)

More from Reuters:
 
moorecat ha scritto:
Credit Suisse Played Role In Espirito Santo Collapse

GERTRUDE CHAVEZ-DREYFUSS, REUTERS
AGO. 17, 2014 9:48 PM | 168 |

Thomson Reuters

A man walks past an office of Portuguese bank Banco Espirito Santo in downtown Lisbon

NEW YORK (Reuters) - Credit Suisse helped put together billions of dollars in securities that were issued by offshore investment vehicles and then sold to retail customers of Portugal's Banco Espirito Santo SA , the Wall Street Journal reported Sunday.
In the article in its online edition, the newspaper cited corporate filings and people familiar with the situation, saying customers didn't know the investment vehicles were loaded with debt issued by various Espirito Santo companies and served as a mechanism to finance the Portuguese conglomerate.

Credit Suisse was not immediately available for comment when contacted by Reuters in Switzerland. WSJ.com said representatives of Credit Suisse and Espirito Santo declined to comment on the story.

Troubled Banco Espirito Santo is Portugal's second largest bank. The Portuguese government said it will extend a loan of 3.9 billion euros ($5.2 billion) to the bank resolution fund in charge of rescuing Banco Espirito Santo.

WSJ's website also said it was unclear about Credit Suisse's direct role in selling the securities to bank customers.

Portuguese regulators investigating the Espirito Santo case have identified at least four offshore investment vehicles whose securities, mostly preferred shares, were sold with the help of Credit Suisse to Espirito Santo customers, WSJ.com reported, citing sources familiar with the investigation.

WSJ.com said three of the investment firms - Top Renda, EuroAforro Investments, and Poupanca Plus Investments - are based in Jersey, a tax haven in the Channel Islands.

According to corporate records filed with the Jersey Financial Services Commission quoted by WSJ.com, Credit Suisse served as "arranger and dealer" for those three vehicles, a role that included not just underwriting securities but also handling administrative and financial needs.

The fourth vehicle, EG Premium, is in the British Virgin Islands, also a tax haven.

TANGLED WEB

The people familiar with the investigation quoted by WSJ.com said all four entities are controlled, at least in part, by Swiss financial company Eurofin Holding SA, also partly-owned by Espirito Santo until 2009 and has had close business ties to the collapsed family-owned conglomerate.

The four investment firms invested primarily in debt issued by Espirito Santo companies, including the Portuguese bank, its Luxembourg-based parent and an Angolan mining and infrastructure investment company called Escom, according to corporate filings and internal Eurofin documents reviewed by WSJ.com

Credit Suisse had agreements dating back to the mid-2000s with EuroAforro and Top Renda to handle the issuance of up to $2.5 billion of each of their preference shares, WSJ.com reported, citing corporate filings.

Those programs were still active as recently as last year, the same filings showed. Credit Suisse also was responsible for Poupanca's preferred-share sales, according to the filings.

The Swiss bank also paid the three vehicles' operating expenses, including legal and audit fees and administrative costs, WSJ.com said citing filings.

(Reporting by Gertrude Chavez-Dreyfuss; Additional reporting by Alice Baghdjian in Zurich; Editing by Sophie Hares)

More from Reuters:
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Questo e' solo l'inizio di quello che avevo definito un grossisimo scandalo.

Oggi domenica sul Corriere della Sera c'era un articolo che e' stato adattato da questo...

Behind the Collapse of Portugal's Espírito Santo Empire - WSJ

C'e' anche un nobile Italiano di mezzo, un certo Nicolo di San Germano.
 
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