Insurer in €1.7M bond shopping spree

The Portuguese insurer Fidelidade has bought a total of €1.7 million in BCP corporate securities in three operations according to a note sent to the Portuguese capital markets regulator CMVM.

The first transaction involved €300,000 and the others €1 million and €400,000 respectively. The Portuguese holding Semapa has issued corporate bonds worth €100 million with a 7-year maturity in an operation coordinated by Caixa BI. Without going into details about this new bond issue, Semapa which owns The Navigator Company, (paper production) and Secil (Construction materials) said the issue had to do with the extension of maturity of its financial debt.