LISBON, April 11 Bondholders led by U.S. funds
Pimco and Blackrock have filed an injunction to block the sale
of Portugal's Novo Banco over a decision by the country's
central bank to transfer 2.2 billion euros in 2015 to a 'bad
bank', the group said on Tuesday.
The transfer in 2015 of the bonds from Novo Banco to the
'bad bank' of Banco Espirito Santo, which collapsed in 2014, led
to losses for bondholders of 1.5 billion euros, the group said
in a statement.
"Several of the institutions, including Blackrock, have been
large and long-term financial partners of the Portuguese
government, financial institutions and corporates," the
The statement added that "in the face of such discriminatory
and prejudicial action," the group had no choice but to launch
the action against the Bank of Portugal.
A spokesman for the group said they filed an injunction to a
Lisbon court on Sunday against the sale of Novo Banco, which was
agreed at the end of March.
(Reporting By Sergio Goncalves and Axel Bugge)