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

(Reuters) - Portugal's Novo Banco, the successor to Banco Espirito Santo after a state rescue last month, will propose to retail clients holding senior debt issued by BES a conversion of their bonds into deposits to guarantee their investment in full, sources said on Friday.
The financial sector sources said the bank had agreed the move with the Bank of Portugal and with the CMVM securities market regulator. One source close to CMVM said the regulator considered the solution as respecting the rights of the clients.
The proposal entails retail clients first authorising Novo Banco to sell their debt at market prices and then converting the difference with their initial investment into 2.7 percent three-year or 4.25 percent 10-year deposits. Withdrawals will be possible after the first 12 months.
At the heart of the matter are over 400 million euros(510 million US dollars) in senior bonds maturing mostly after 2020 that BES sold to its retail clients under short-term repurchase agreements.
One source said the next step would be to prepare an appropriate solution for retail clients holding shorter-term commercial paper issued by the Espirito Santo Group and sold by BES to its customers.
Novo Banco inherited the senior debt from Banco Espirito Santo, which was split up into the "good bank" Novo Banco and a bad bank holding the toxic exposure to the collapsed business empire of its founding Espirito Santo family in the 4.9 billion euro rescue organised by the Bank of Portugal in early August.
Subordinated debt holders were left behind in the bad bank.
 
luperf ha scritto:
(Reuters) - Portugal's Novo Banco, the successor to Banco Espirito Santo after a state rescue last month, will propose to retail clients holding senior debt issued by BES a conversion of their bonds into deposits to guarantee their investment in full, sources said on Friday.
The financial sector sources said the bank had agreed the move with the Bank of Portugal and with the CMVM securities market regulator. One source close to CMVM said the regulator considered the solution as respecting the rights of the clients.
The proposal entails retail clients first authorising Novo Banco to sell their debt at market prices and then converting the difference with their initial investment into 2.7 percent three-year or 4.25 percent 10-year deposits. Withdrawals will be possible after the first 12 months.
At the heart of the matter are over 400 million euros(510 million US dollars) in senior bonds maturing mostly after 2020 that BES sold to its retail clients under short-term repurchase agreements.
One source said the next step would be to prepare an appropriate solution for retail clients holding shorter-term commercial paper issued by the Espirito Santo Group and sold by BES to its customers.
Novo Banco inherited the senior debt from Banco Espirito Santo, which was split up into the "good bank" Novo Banco and a bad bank holding the toxic exposure to the collapsed business empire of its founding Espirito Santo family in the 4.9 billion euro rescue organised by the Bank of Portugal in early August.
Subordinated debt holders were left behind in the bad bank.
Clicca per allargare...

bah questa poi...un buy back neanche tanto mascherato
 
Quindi se ho capito bene un bondista potrebbe (o dovrebbe...) vendere sul mercato i propri titoli; l'eventuale minusvalenza rispetto al pmc verrebbe convertita in un deposito a tre anni remunerato al 2,7 per cento o a dieci anni al 4,25 per cento. Vincolo sui depositi almeno12 mesi.
 
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