BCP splits opinion with ‘cuspy’ LM offer
Expectations on take-up for Banco Comercial Português’ capital generating exchange were split this week, with opinion divided over the value on the offer which closed on Thursday.
The bank is due to announce on Friday the results of its offer to exchange into new senior and sub issues two 500m perpetual tier ones at 60% of par, and a 400m lower tier two issue callable in December at 75% of par.
BCPs liability management exercise
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