Portugal’s central bank is imposing losses on some senior bondholders at Novo Banco SA, the good bank that emerged from the breakup of Banco Espirito Santo SA last year.
The central bank ordered it to transfer about 2 billion euros ($2.2 billion) of bonds to the bad bank, which is being liquidated. The five affected bonds mature in July 2016, May 2017, January 2018, January 2019 and June 2024, the Bank of Portugal said in a statement on Tuesday.
