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Novo Banco; IPO In Prospect, Credit Positive News on NPLs

FINANCIALS

Bloomberg is reporting Lone Star is ensuring Novo Banco "ready for a possible IPO."

Looks like PE owner starting to sound out exit strategies from Novo Banco; likely to be a popular IPO as there are no quoted pure-play Portuguese banks. Credit-wise... falling NPL rates referenced are a minor positive but little surprise after Santander's results on Weds 31-Jan.


Story headline: Lone Star’s Novo Banco Is Ensuring It’s Ready for a Possible IPO

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