NYSE Euronext (NYX) is pleased to welcome Banco Português de Investimento as the first listed issuer of non-euro currency on Euronext Lisbon.
Banco Português de Investimento, a company with a market capitalization of € 1.750 billion, will list two bond issues denominated in USD on the Lisbon market of NYSE Euronext on 12th March 2010:
• an issue of USD 6 million of Index Linked Interested Notes “BPI AMERICAN OUTPERFORMANCE 2010-2013” and
• an issue of USD 6 million of Index Linked Interest Notes “BPI JPYUSD 350% 2010-2013”.
Both bonds will be issued under the BPI’s Euro Medium Term Note Programme.
The listing of these two new products will see the start of a service to trade non-Euro currency via NYSE Euronext in Lisbon. The non-Euro settlement service will be provided by Interbolsa using the non-Euro payment system operated by Caixa Geral de Depósitos. Trading member firms will need to have a clearing member firm (CMF) and a settlement agent (SA) with a settlement account at Interbolsa for the securities side and an account with Caixa Geral de Depósitos for the cash side of the settlement process.
Trades in respect of this service will be processed by LCH.Clearnet on a non-guaranteed basis, meaning that they will be reported to clearing members and settlement agents in the non-Euro currency with, therefore, no margin calculations due to be performed by LCH.Clearnet.
When the listing service is launched, it will be possible to settle in USD, GBP, CHF and JPY via Interbolsa for the Portuguese market using the non-Euro settlement systems launched by Interbolsa. This improvement will enable NYSE Euronext to offer non-Euro services to issuers who wish to list securities in Lisbon in currencies other than the Euro.