'No upside' for Novo Banco bondholders after LME

© 2026 GlobalCapital, Derivia Intelligence Limited, company number 15235970, 4 Bouverie Street, London, EC4Y 8AX. Part of the Delinian group. All rights reserved.

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

'No upside' for Novo Banco bondholders after LME

rock_hard_place_Fotolia_230x150
A paperclip figure standing between paving stone and a hammer | Nikolay Stoimenov (nikolay100ime/nikolay100 - stock.adobe.com

Bondholders have been left between a rock and a hard place, according to one investor, after Novo Banco published the terms of its liability management exercise (LME) this week.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request demo or Login
  • 4,000 annual insights
  • 700+ notes and long-form analyses
  • 4 capital markets databases
  • Daily newsletters across markets and asset classes
  • 2 weekly podcasts
Gift this article