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

solovaloreaggiunto ha scritto:
Acquisition of BPI puts Caixabank in the race for Novo Banco
Caixabank may use the momentum created with the launch of its tender offer for BPI to fully enter the race for Novo Banco. The ultimate goal would be to create a large Portuguese bank and become the largest financial services ground in Iberia. “Nobody can guarantee that Caixabank will end up buying Novo Banco, but they will be in the race. The operation makes strategic sense”, industry sources consulted by the newspaper said. Another factor which could push Caixabank to buy Novo Banco is the Portuguese government. Novo Banco sources state that in return for changing the law to remove BPI’s voting rights cap, the government may have asked CaixaBank to take part in the sale process of Novo Banco.
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E' praticamente un sunto del'articolo sopra linkato.

Manca un particolare dell'articolo : i dindi.
Caixa pare che insista sul "prezzo simbolico".

Alla UE va bene così (Caixa), al PT andrebbe bene che la UE assecondasse (salvando il bilancio statale e il conto economico delle banche) una rimodulazione temporale del buco che si verrebbe a creare da qualche parte...
 
Ultima modifica:
Portogallo cambia termini di prestito a fondo di risoluzione bancaria



Ministero delle Finanze del Portogallo ha detto il Mercoledì ha cambiato i termini dei prestiti dello Stato al fondo di risoluzione della banca, tra cui l'estensione delle scadenze, aiutando le banche del paese evitare di dover effettuare pagamenti straordinari al fondo.

Il fondo, che ha ricevuto 3,9 miliardi di euro da parte del governo per il salvataggio 4,9 miliardi di euro di debito con Banco Espirito Santo (BES) nel 2014, è formalmente di proprietà di banche portoghesi che pagano gli interessi sul prestito.

"La revisione dei termini del contratto (sui prestiti) è sostenuto dalla Commissione europea e riduce l'incertezza sulle responsabilità annuali delle banche in futuro, indipendentemente dalle contingenze che possono sorgere per il fondo", ha detto il ministero in una dichiarazione.

Una nuova banca, Novo Banco, è stata stralciata di BES e ha assunto le operazioni della vecchia banca. Ma Novo Banco non è ancora stato venduto come sperato, il che significa che lo Stato non è stato in grado di recuperare i suoi crediti.

La mancata vendita di Novo Banco ha appeso sopra il settore bancario in Portogallo perché le banche dovrebbero affrontare costi crescenti nel tempo. Le banche avrebbero dovuto riempire qualsiasi possibile deficit nel prezzo di vendita di Novo Banco se non raggiunge 3,9 miliardi di euro.

"La revisione delle condizioni del prestito di Stato al fondo di risoluzione è un'altra misura volta a garantire la stabilità finanziaria e rafforzare la capitalizzazione delle banche portoghesi", ha detto il ministero.

Senza dare dettagli dei nuovi termini dei prestiti, l'accordo estenderà le scadenze del prestito al fondo di risoluzione, consentendo alle banche di continuare a pagare quello che attualmente pagano, ha detto il ministero.
Un nuovo tasso sarà addebitato sui prestiti in linea con il tasso di interesse il governo paga attualmente sulle sue obbligazioni, ha aggiunto.
 
Il comunicato ufficiale del Fondo di Risoluzione.

O Fundo de Resolução e o Ministério das Finanças acordaram – em termos que asseguram a sustentabilidade e o equilíbrio financeiro do Fundo de Resolução –, a revisão das condições do empréstimo de 3 900 milhões de euros, obtido em agosto de 2014 para o financiamento da medida de resolução aplicada ao Banco Espírito Santo, S.A. (“BES”).

Atualmente, o referido empréstimo tem vencimento em 31 de dezembro de 2017 e a revisão agora acordada permitirá a extensão dessa maturidade em termos que garantam a capacidade do Fundo de Resolução para cumprir integralmente as suas obrigações com base nas suas receitas regulares, e independentemente das contingências positivas ou negativas a que o Fundo de Resolução se encontra exposto.

As receitas regulares do Fundo de Resolução correspondem à contribuição periódica paga diretamente ao Fundo pelas instituições participantes, em abril de cada ano, e ao produto da contribuição sobre o setor bancário. Nos termos do entendimento obtido com o Ministério das Finanças, a maturidade do empréstimo será ajustada de forma a garantir que não será necessário proceder à cobrança de contribuições extraordinárias, independentemente das receitas ou das responsabilidades adicionais que o Fundo de Resolução possa vir a receber ou a pagar na sequência das medidas de resolução aplicadas ao BES e ao BANIF – Banco Internacional do Funchal, S.A.

O acordo obtido com o Ministério das Finanças prevê que a taxa de juro do empréstimo seja indexada a uma taxa que reflita o custo de financiamento da República Portuguesa, periodicamente atualizada de forma compatível com o indexante a considerar, e em níveis que assegurem o equilíbrio financeiro do Fundo de Resolução.

Esta iniciativa, que vai ao encontro da visão que o Fundo de Resolução tem sobre o seu financiamento desde há longa data, permite assegurar a sustentabilidade financeira do Fundo de Resolução, garantir o pagamento integral das suas responsabilidades e conferir estabilidade ao esforço contributivo que recai sobre o setor bancário, sem necessidade de serem cobradas contribuições extraordinárias.

As condições acordadas com o Ministério das Finanças serão objeto de formalização assim que terminarem os necessários trabalhos técnicos e deverão ser estendidas aos restantes empréstimos obtidos pelo Fundo de Resolução.


Lisboa, 28 de setembro de 2016

 
Portugal’s efforts to sell Novo Banco SA are about to get more difficult.

Banco BPI SA may have to drop out as a potential acquirer because of opposition from its own largest shareholder CaixaBank SA. Officials at CaixaBank have told investors they will oppose a deal for Novo Banco once they gain control of BPI through a looming takeover, according to four people familiar with the matter who asked not to be identified because the discussions were private.

A BPI withdrawal would complicate the Bank of Portugal’s second attempt to dispose of Novo Banco as only four groups have made acquisition proposals. The central bank scrapped a sale last year because offers were too low. Novo Banco emerged from the collapse of Banco Espirito Santo SA, once Portugal’s largest lender by market value.

CaxiaBank has no interest in buying Novo Banco directly, Chief Executive Officer Gonzalo Gortazar Rotaeche said on a conference call with analysts in July. The bank reiterated these comments when asked whether it would block a BPI bid. No other decision has been made, a spokesman said in reply to Bloomberg News questions.

BPI Interest
A Bank of Portugal spokesman declined to comment. A spokesman for BPI wasn’t immediately available for comment.

BPI is “seriously studying” the Novo Banco sale, Chairman Artur Santos Silva said at a press conference on Sept. 21. That was the same day that a key shareholder vote cleared the way for a takeover by CaixaBank, Spain’s third-largest lender.

The Spanish bank, which pursued BPI for more than a year, has sold 1.3 billion euros ($1.5 billion) of new shares to fund the acquisition. It probably wouldn’t support a BPI takeover of Novo Banco as that would likely require further fundraising, Autonomous Research analyst Britta Schmidt wrote in a note last week.

The Bank of Portugal said in June that it would analyze the four proposals for Novo Banco, and then decide whether to sell the bank to a strategic buyer, such as another lender, or to a group of institutional investors, which could involve an initial public offering.


(Bloomberg)
 
Vespasianus ha scritto:
Portugal’s efforts to sell Novo Banco SA are about to get more difficult.

Banco BPI SA may have to drop out as a potential acquirer because of opposition from its own largest shareholder CaixaBank SA. Officials at CaixaBank have told investors they will oppose a deal for Novo Banco once they gain control of BPI through a looming takeover, according to four people familiar with the matter who asked not to be identified because the discussions were private.

A BPI withdrawal would complicate the Bank of Portugal’s second attempt to dispose of Novo Banco as only four groups have made acquisition proposals. The central bank scrapped a sale last year because offers were too low. Novo Banco emerged from the collapse of Banco Espirito Santo SA, once Portugal’s largest lender by market value.

CaxiaBank has no interest in buying Novo Banco directly, Chief Executive Officer Gonzalo Gortazar Rotaeche said on a conference call with analysts in July. The bank reiterated these comments when asked whether it would block a BPI bid. No other decision has been made, a spokesman said in reply to Bloomberg News questions.

BPI Interest
A Bank of Portugal spokesman declined to comment. A spokesman for BPI wasn’t immediately available for comment.

BPI is “seriously studying” the Novo Banco sale, Chairman Artur Santos Silva said at a press conference on Sept. 21. That was the same day that a key shareholder vote cleared the way for a takeover by CaixaBank, Spain’s third-largest lender.

The Spanish bank, which pursued BPI for more than a year, has sold 1.3 billion euros ($1.5 billion) of new shares to fund the acquisition. It probably wouldn’t support a BPI takeover of Novo Banco as that would likely require further fundraising, Autonomous Research analyst Britta Schmidt wrote in a note last week.

The Bank of Portugal said in June that it would analyze the four proposals for Novo Banco, and then decide whether to sell the bank to a strategic buyer, such as another lender, or to a group of institutional investors, which could involve an initial public offering.


(Bloomberg)
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Azz Confortante.... :confused:
 
Vespasianus ha scritto:
Portugal’s efforts to sell Novo Banco SA are about to get more difficult.

Banco BPI SA may have to drop out as a potential acquirer because of opposition from its own largest shareholder CaixaBank SA. Officials at CaixaBank have told investors they will oppose a deal for Novo Banco once they gain control of BPI through a looming takeover, according to four people familiar with the matter who asked not to be identified because the discussions were private.

A BPI withdrawal would complicate the Bank of Portugal’s second attempt to dispose of Novo Banco as only four groups have made acquisition proposals. The central bank scrapped a sale last year because offers were too low. Novo Banco emerged from the collapse of Banco Espirito Santo SA, once Portugal’s largest lender by market value.

CaxiaBank has no interest in buying Novo Banco directly, Chief Executive Officer Gonzalo Gortazar Rotaeche said on a conference call with analysts in July. The bank reiterated these comments when asked whether it would block a BPI bid. No other decision has been made, a spokesman said in reply to Bloomberg News questions.

BPI Interest
A Bank of Portugal spokesman declined to comment. A spokesman for BPI wasn’t immediately available for comment.

BPI is “seriously studying” the Novo Banco sale, Chairman Artur Santos Silva said at a press conference on Sept. 21. That was the same day that a key shareholder vote cleared the way for a takeover by CaixaBank, Spain’s third-largest lender.

The Spanish bank, which pursued BPI for more than a year, has sold 1.3 billion euros ($1.5 billion) of new shares to fund the acquisition. It probably wouldn’t support a BPI takeover of Novo Banco as that would likely require further fundraising, Autonomous Research analyst Britta Schmidt wrote in a note last week.

The Bank of Portugal said in June that it would analyze the four proposals for Novo Banco, and then decide whether to sell the bank to a strategic buyer, such as another lender, or to a group of institutional investors, which could involve an initial public offering.


(Bloomberg)
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Questo conferma che, almeno nel breve periodo, la Caixa non ha nessuna intenzione di "gain control".

Per me questa non è una sorpresa, visto che qualche giorno fa ho scritto la stessa cosa qui:

#578

La speranza è che non rinuncino a puntare ad una quota di minoranza (anchor o cornerstone investor)....
 
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