LISBON May 27 Portugal's second-largest listed
bank Millennium bcp said on Tuesday it had repaid to
the state 400 million euros in loans held in so-called
contingent convertible bonds (CoCos) that have weighed on the
bank's bottom line due to high interest charged.
Portugal's banks took the loans during the country's debt
crisis and the financing was provided by the government as one
part of Lisbon's 78-billion-euro bailout by the European Union
and International Monetary Fund that ended this month.
BCP originally received 3 billion euros and it is the first
payment it makes, following other banks' suit.
(Reporting By Andrei Khalip, editing by Axel Bugge)