BFW 08/01 16:58 Espirito Santo Financial Portugal Unit Makes Insolvency Request
BFW 08/01 21:24 *BES WILL BE RECAPITALIZED WITH STATE AID, SIC REPORTS
BFW 08/01 16:50 *ESFG PORTUGAL UNIT REQUESTS INSOLVENCY
BFW 08/01 21:24 *BES WILL BE RECAPITALIZED WITH STATE AID, SIC REPORTS
BFW 08/01 16:50 *ESFG PORTUGAL UNIT REQUESTS INSOLVENCY
BES Will Be Recapitalized With State Aid, SIC Reports
2014-08-01 21:34:36.545 GMT
By Joao Lima
Aug. 1 (Bloomberg) -- Portuguese lender Banco Espirito
Santo will be recapitalized with state aid, TV station SIC
reports on its website, without saying how it obtained the
information.
* Decision will be announced in the evening of Aug. 3: SIC
* Solution is being negotiated by the new management team at
Banco Espirito Santo and by the Bank of Portugal, in
connection with the Finance Ministry: SIC
* Portuguese state may directly invest in Banco Espirito Santo
by subscribing shares and may provide a loan under the
contingent capital regime, consisting of bonds that can be
converted in stock if they aren’t paid at the end of a set
period: SIC
* NOTE Aug. 1: Banco Espirito Santo Shares Suspended After 50
Percent Drop {NSN N9MWO86TTDSP <go>}
Story link (in Portuguese): http://tinyurl.com/kfzuuyo
Link to Company News:{BES PL <Equity> CN <GO>}
Link to Company News:{ESF PL <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Joao Lima at +351-21-340-4570 or
jlima1@bloomberg.net
2014-08-01 21:34:36.545 GMT
By Joao Lima
Aug. 1 (Bloomberg) -- Portuguese lender Banco Espirito
Santo will be recapitalized with state aid, TV station SIC
reports on its website, without saying how it obtained the
information.
* Decision will be announced in the evening of Aug. 3: SIC
* Solution is being negotiated by the new management team at
Banco Espirito Santo and by the Bank of Portugal, in
connection with the Finance Ministry: SIC
* Portuguese state may directly invest in Banco Espirito Santo
by subscribing shares and may provide a loan under the
contingent capital regime, consisting of bonds that can be
converted in stock if they aren’t paid at the end of a set
period: SIC
* NOTE Aug. 1: Banco Espirito Santo Shares Suspended After 50
Percent Drop {NSN N9MWO86TTDSP <go>}
Story link (in Portuguese): http://tinyurl.com/kfzuuyo
Link to Company News:{BES PL <Equity> CN <GO>}
Link to Company News:{ESF PL <Equity> CN <GO>}
For Related News and Information:
First Word scrolling panel: {FIRST<GO>}
First Word newswire: {NH BFW<GO>}
To contact the editor responsible for this story:
Joao Lima at +351-21-340-4570 or
jlima1@bloomberg.net