The new Bank anticipates repayment of billion of euros – TVI24

The New Bank had € 3.5 billion in bonds that benefited from the guarantee of the State and has already eliminated some of these securities in the total amount of one billion euros.

In a statement sent to comissão do mercado de Valores Mobiliários (CMVM), the bank led by António Ramalho said that “held today at the extinguishing of 20,000 bonds in the amount of 1,000 million euros, representing the issuance of bonds senior, guaranteed by the Portuguese State.”

This was only one of the three emissions of bonds of this type, which have been issued by the former Banco Espirito Santo (BES), and transferred to the Novo Banco, the “good bank” that resulted from the resolution of 3 August 2014 that ordered the end of the BES.

The maturity of the bonds now extinct, was fixed in December of this year, after the European Commission and the Government have agreed to the extension of the term by a year. The remaining two issues have maturities at the beginning of 2017.

The New Bank presented yesterday loss of 359 million euros between January and September, which compare with the negative result of 418,7 million euros in the first nine months of 2015. Already in relation to the quarter was the first earnings, after you extinguished the BES – net income of 3.7 million euros – although the president of the institution to stop the alert it is necessary to read the quarterly result with “caution”, taking into account that the impairment - in the current language the difference, is negative, between the recoverable amount of the asset and the value at which the same asset is entered in the accounts – at the bank remain high.

The process of restructuring because it has passed the New Bank has a view to the sale, after the first failed attempt. The deadline for delivery of proposals, with the Bank of Portugal, ended on Thursday. In the list of potential parties interested in the direct purchase would be, even before the term closes, BPI, BCP, Apollo Management/ Centerbridge and Lone Star. Being that the BCP will have, however, given up on this bet, or at least not improved the offer you made initially.

For the second phase, if the first hypothesis were emptied, emerged names such as the chinese of China Minsheng Financial Holding company and the Spanish bank Santander and could still reappear the BCP. Last week, the Journal of Economic moved forward with two more names: China Three Gorges and Anbang. Neither the Bank of Portugal, nor the president of the institution would, until now, confirm how many stakeholders there are.