The New Bank will reimburse in advance the most 700 million euros in senior debt guaranteed by the State, advanced to the Business source of the institution. The objective is to reduce the level of guaranteed debt and get some savings in the payment of commissions.
This is the second advance in about a month, after the 11 of November the bank, having killed 1,000 million. Are pay 1,800 million.
The loan now paid is part three financing operations with a state guarantee, with an aggregate amount of 3,500 million euros, carried out after the financial crisis of 2008, by the then Banco Espírito Santo.
The credits were transferred to the New Bank after the resolution and ending between late 2015 and early 2016, but the maturity has been extended under an agreement between Brussels and Lisbon. For the benefit of the State guarantee, these loans have to pay an extra commission, which exacerbates the costs.
One of the lines has the maturity to December 23. The rest expire in January and February of next year.
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