Novo Banco is a Portuguese bank resulting from the 2014 resolution of Banco Espírito Santo.
Novo Banco, a key Portuguese financial institution established in 2014 following the resolution of Banco Espírito Santo (BES) and currently majority-owned by Lone Star Funds, has issued a significant EUR-denominated zero-coupon bond (ISIN: XS0442127063) from Portugal, which, with a 0% interest rate and an ultimate maturity date of July 29, 2041, is presently trading at 100% of its nominal value, signifying that investors will receive only the principal amount at its long-dated redemption, with no periodic interest payments.
|