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Octante returns the entire loan guaranteed by the state – Banking and Finance



Octante returns the entire loan guaranteed by the state - Banking and Finance

Oitante, set up to manage assets at the time of the Banif ruling, has already repaid the entire €746m bond loan provided by Santander. And it was done more than three years ahead of schedule, according to a statement released by the institution.

Oitante, SA (“Oitante”) announces that it has successfully completed the full repayment of its €746 million bond issue entered into at the time of its incorporation on 20 December 2015 in accordance with the decision of Banif. completes the full repayment of its balance. debt list,” writes the organization, chaired by Miguel Barbosa.

The last tranche of Santander’s loan financing was repaid “on 30 June in the amount of 18 million euros”. With this transaction, Octant postponed “by 3 and a half years the maturity of the bond issue, originally scheduled for December 2025.” “The interest savings resulting from the early repayment of the bonded loan amounted to more than 110 million euros between 2016 and 2022,” says the organization, chaired by Miguel Barbosa, highlighting that over the life of the loan, the car “paid a total of more than 62 million euros in interest “.

“It is with great pride and a sense of accomplishment that Oitante is fulfilling one of its main tasks, the full payment of its debt,” he emphasizes in the same statement. He adds that “it is especially important for the Oitante team that they were able to develop and implement an ambitious strategic plan that allowed both the Resolution Fund and the Portuguese state (taxpayer) to be released from the guarantees and counter-guarantees originally granted.” .

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Oitante was created in December 2015 by Banif to manage the toxic assets of the bank founded by Horacio Roque. Santander loan was guaranteed by the Permission Fund, Oitante’s sole shareholder, and counter-guaranteed by the state.

Satisfied Bank of Portugal expects Resolution Fund to return $489 million

Banco de Portugal was satisfied with the payment of the entire loan to Santander Oitante. “In its capacity as the national dispute resolution body [o regulador] welcomes the completion of the Oitante debt repayment process, which is taking place more than three years before the due date, as a moment of paramount importance in the banif settlement process,” the supervisory authority said in a statement.

“The Oitante bond issue made it possible to finance the transfer of Banif’s assets to this company and was therefore necessary to implement the resolution and thus prevent the disorderly liquidation of this bank,” emphasizes the organization, headed by Mario Centeno.

Banco de Portugal also explains that “early repayment of Oitante’s debt terminates the liability of the Settlement Fund and the Portuguese State in respect of this debt”, in addition to “allowing significant financial savings and expecting to recover a significant portion of the debt”. €489 million allocated by the Resolution Fund in 2015 to fund the Banif Resolution.”

(News updated at 11:44 AM by Banco de Portugal)

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Everything has been delivered. 10 Bugatti Centodieci are already in the hands of the owners



Everything has been delivered.  10 Bugatti Centodieci are already in the hands of the owners

OAll Bugatti Centodieci have been delivered, the Molsheim-based brand said on Monday. Cristiano Ronaldo received the number 07 in October this year. and Bugatti has now revealed that the latest unit – #10 – is already in the possession of its owner.

“The Centodieci combines all the values ​​of the Bugatti brand in an extraordinary package: rarity, innovation, heritage, craftsmanship and unrivaled performance. The production batch of 10 units was so in demand by our customers that it was sold before the Centodieci. was even officially presented,” said Christophe Piochon, president of Bugatti.

This latest example is finished in Quartz White with carbon fiber trim on the bottom and matte grilles. The brake calipers are painted in Light Blue Sport, as is the logo on the rear that refers to the EB110, the iconic Bugatti model that inspired this Centodieci. Inside, the predominant color is also blue, as you can see in the images above.

This block is powered by the same block as the other nine instances. The 8.0-liter W16 with four turbines is capable of developing 1600 hp. In terms of performance, this allows the Centodieci to hit 100 km/h in just 2.4 seconds and reach a top speed of 380 km/h.

Recall that each unit costs the owners eight million euros before taxes.

Read also: We already know when the Bugatti Centodieci fell into the hands of Ronaldo.

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The first Dacia hybrid. “The cheapest hybrid family on the market”



The first Dacia hybrid.  "The cheapest hybrid family on the market"

BUT Dacia revealed this Monday that the hybrid engine has been available since March on the Jogger, the Romanian brand’s model known to be available with a seven-seat variant.

The Jogger Hybrid 140, Dacia’s first hybrid, will hit dealerships in March, but customers can expect and order it as early as January.

The price has been revealed by Dacia and since it’s only available in the seven-seater SL Extreme, it starts at €28,800. The brand claims it is “the most affordable hybrid family car on the market.”

Available in six existing colors to celebrate the launch of this hybrid, there will be a slate gray version, as you can see in the images above.

Equipped with a 1.6 liter four-cylinder petrol engine with 90 hp, the Jogger is also powered by two electric motors (a 50 hp engine and a high-voltage starter-generator). The total power is 140 horsepower. The electric transmission is automatic, four-speed, connected to an internal combustion engine, and two speeds are connected to an electric motor. This combined technology was possible, according to Dacia, only due to the lack of clutch.

Combined with the energy recovery levels of the 1.2kWh (230V) battery pack and the efficiency of the automatic transmission, regenerative braking delivers all-electric traction on 80% of urban journeys and saves up to 40% of fuel compared to a combustion engine vehicle.

Read also: Dual-fuel Dacia Jogger Eco-G. We tried 5 seater and LPG…

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See how Tesla tests its electric Semi truck in the worst-case scenarios



Tesla Semi camião elétrico testes

Tesla has finally been able to bring its long-awaited Semi to market. This electric truck promises to revolutionize transportation and bring all the unique characteristics of this type of electric vehicle to this class of vehicles.

Now that the first units have been delivered, there is hope that they will finally be mass-produced and reach more transport companies. With so many promises to be kept, a new video is now emerging showing Tesla testing its Semi truck under worst-case scenarios.

Tesla Semi is already on the market

Like all Tesla electric vehicles, Semi follows the same line of creating a unique design associated with a platform with the most modern technology available. The proof is in what was presented to the public and surprised most people.

To prove the quality of this new proposal, Tesla published in your LinkedIn account new video. In it, he reveals some of the testing he's done to determine the strength and quality of the Semi's design and its (potential) durability.

Tests to prove its durability

It has been revealed that the Tesla electric truck is subjected to numerous tests and its application in the worst scenarios that drivers may face. It doesn't stop at the ruggedness of the Semi's designs, but goes further and focuses on the motors and batteries themselves.

This is the proof that many have been waiting for to ensure that this new proposal is not limited to a lot of autonomy. Its resistance is great and will provide greater durability, further enhancing the Semi's value and performance.

high quality electric truck

Tesla has already showcased the Semi's quality with a video showing its truck driving roughly 500 miles on just one charge. The big news here is that he managed to make this long journey with a maximum load of about 37 tons.

Now Tesla remains to widely place the Semi on the market. At the moment, only a few companies have access to this new product, with a very long list of pending deliveries, who want to start mass-using this electric truck offering.

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