Five lenders to Pescanova SA, the Spanish fishing company trying to avoid liquidation, made an alternative restructuring proposal to the firm’s administrator in case a shareholder plan doesn’t get backing.
German government bonds fell, with 10-year yields reaching the highest in a week, amid speculation the lowest inflation rate in four years will not be enough to spur the European Central Bank to increase stimulus.
Spain’s 10-year bonds climbed for a seventh day, matching the longest run of gains since September, as Royal Bank of Scotland Group Plc said the rally in the securities of Europe’s most-indebted nations can extend.
Novacaixagalicia, a Spanish savings bank group, may increase the amount requested from the bank rescue fund created by the Spanish government, Cinco Dias reported, citing unidentified people familiar with the matter.
Mercapital SL plans to open an office in Colombia within four months, becoming the first Spanish private equity firm to set up in the Latin American nation, Cinco Dias reported, citing Chairman Javier Loizaga.
Novacaixagalicia, a grouping of Spanish savings banks, is holding talks with 27 investors as it seeks to sell a 25 percent stake in its new bank, Cinco Dias reported, citing people at the company it didn’t identify by name.