Novo lands senior debut despite controversial past
![Novo Alamy 575x375 15Jul21](https://assets.euromoneydigital.com/dims4/default/177e2d9/2147483647/strip/true/crop/575x375+0+0/resize/840x548!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2Fe7%2Fb6%2Fa664eed3c46affda45a0bba6b778%2Falamy-novo-575x375-15jul21.jpg)
Novo Banco found just enough demand to print its first preferred senior bond this week, setting the issuer off on a journey towards its minimum requirements for own funds and eligible liabilities (MREL) targets. Market participants drew attention to the Portuguese bank’s controversial past, including imposing unexpected losses on a group of senior bondholders.
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