Espírito Santo cash calls emphasise solidity
Portugal’s Espírito Santo group this week set out to underline its relative solidity compared to its peers with a €400m capital raise for holding company Espírito Santo Financial Group and a €1.01bn rights issue for Banco Espírito Santo. Both deals had strong support at launch, and the inclusion of a side-deal for BES to take full control of its life insurance subsidiary from Crédit Agricole gives it additional funding and revenue options.
Unlock this article.
The content you are trying to view is exclusive to our subscribers.
To unlock this article:
- ✔ 4,000 annual insights
- ✔ 700+ notes and long-form analyses
- ✔ 4 capital markets databases
- ✔ Daily newsletters across markets and asset classes
- ✔ 2 weekly podcasts