Numerous press reports said that Novo Banco had ensured more than 3,500 emigrant clients had signed up for the deal that anticipates refunding over six years the capital that was invested.
An official source at Novo Banco told Lusa News Agency at the beginning of the month that the 7,000 cases involved an overall amount of about €720 million.
The source said that the solution had to be authorised by the Bank of Portugal and requires the clients to sign so that Novo Banco and Credit Suisse can cancel the financial vehicles. The solution should allow the investors to get back at least 90 percent of their investment over the six years.