Espirito Santo puts Eu2.7bn up for sale

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Espirito Santo puts Eu2.7bn up for sale

January 26, 2011 12:00 AM

Portuguese financial Banco Espirito Santo is to sell Eu2.7bn of loans as it attempts to deleverage its balance sheet. The portfolio sale is the talk of the trading desks as market participants say that the sale is a result of the challenges the bank faces in accessing the capital markets. One analyst also suggested that discussions of another round of financial stress tests for European banks were at play. For more information, read EuroWeek this Friday.

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