Bloomberg reports that Nomura threatened to seek at least 100 million in loan repayments by Groupo Espirito Santo today and forced the company to sell part of its share in Banco Espirito Santo today.
On Thursday, problems at the bank and the threat of default roiled global markets. The group sold 5% of the company today to replay the loan and avoid default. Shares of the bank fell 36% last week and were down 7.7% today.
The worst of the problems seems to have subsided with Portuguese yields lower and its broader stock market higher today.
Update: Bloomberg now reports that the sale was at 34-cents per share compared to the market price of 44-cents.
