BES looks ahead after contrasting 2008 deals

Banco Espírito Santo has enjoyed a turbulent first year in the covered bond market, with praise for its new Eu1.25bn two year for keeping the primary market open contrasting with the criticism it received after its debut Eu1.25bn three year in January pushed secondary spreads wider. The Cover spoke to Paul Ferreira, head of funding at BES, about its new issue and future plans.