BES unknowns could threaten more than subordinated debt
The uncertainty over Banco Espírito Santo’s health and future continued this week, despite the bank’s reassurances of sufficient capital buffers and the Bank of Portugal’s assurance that existing equity investors were willing to inject further capital if needed into the bank. And as more comes to be known about the lender’s exposures to other companies within the group, its senior debt is becoming more vulnerable.
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