Millennium BCP is seeking to raise €1.75 billion in sale state-guaranteed bonds, Reuters reports. The Portuguese lender submitted an application with the Bank of Portugal for the approval of the Portuguese state guarantee to three-year, non-subordinated bond issue.
The Porto-based bank earlier this month secured a capital increase of €1.37 billion after a debt-to-equity swap of perpetual bonds. Banco Espirito Santo is also planning an issue of state-guaranteed three-year bonds worth up to €1.25 billion, while Caixa Geral de Depositos also plans a €1.8 billion bond issue.
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