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Forumer storico
Novo Banco CEO spoke after the publication of the results. Antonio Ramalho said that the sale is expected to be closed “around summertime”. Ramalho declined to give details on the debt management operation that’s a requirement for the sale, but said” “Surely investors will value the degree of security of being holders of bonds in a transition bank or bondholders in a bank with continuity”. He said that the debt operation had not been fully designed, adding: “A suggestion was presented by the seller, we are reflecting on it but we have no plan yet, and only when we have that can bondholders, voluntarily, decide to adhere to it or not. It’s not worth it to speculate about what type of product or solution will be offered. It’s not illogical. It’s risk and benefit sharing. The quality of Novo Banco after the closing of the sale will be so much higher that I’m sure that not only will bondholders accept this solution but we will also in the short term return to the market to sell more bonds”
