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Eurobank: Capital Increase to raise up to EUR 3,000m

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2014-04-06 09:58

Eurobank press release: Capital Increase to raise up to EUR 3,000m

Eurobank’s Board of Directors at its meeting today (04.04.2014) resolved to call an Extraordinary General Meeting to approve a share capital increase for a maximum amount of €3,000m.

The resolution of today’s Board of Directors follows the two previous announcements made by Eurobank and the Hellenic Financial Stability Fund (“HFSF”) dated 14 November 2013 and 14 January 2014 respectively, with
reference to the initiation of the process for Eurobank to raise new capital, the results of the capital assessment exercise performed by the Bank of Greece and the amended bank recapitalisation law approved by the Greek Parliament on 30 March 2014.

Athens, 4 April 2014 – The Board of Directors of Eurobank Ergasias S.A. (“Eurobank”) has resolved to call an Extraordinary General Meeting (“EGM”) on 12 April 2014 to:
1. Approve a share capital increase via a non pre-emptive issue of new Eurobank ordinary shares for a maximum amount of € 3,000m (the “Equity Offering”).
2. Delegate to the Board of Directors of Eurobank to set the terms of the Equity Offering, including timing, pricing and size, according to market practice and the prevailing market conditions.

The Equity Offering is expected to be executed by means of a private placement through a book-building to institutional and other eligible investors outside of Greece and a public offering in Greece.

According to the amended bank recapitalisation law, the HFSF will set the minimum price at which Eurobank’s new shares may be offered to investors and back stop the Equity Offering.

A price range will be set by the Board of Directors of Eurobank ahead of the launch of the book-building, with the final subscription price of the new shares to be set on the basis of the international and Greek book-building process.

Subject to the issuance of the relevant authorisations by the competent authorities and market conditions, it is expected that the Equity Offering will be completed by mid-May 2014.

Barclays Bank PLC, acting through its investment bank, Deutsche Bank AG London Branch, and J.P. Morgan Securities plc will act as Joint Global Coordinators for the Equity Offering.

Rationale of the capital increase

The proposed Equity Offering is aimed at strengthening the capital position of Eurobank, taking into account the outcome of the recent capital assessment exercise performed by the Bank of Greece, while providing adequate financial resources to take advantage of the current and expected improvement of the economic environment in Greece.

In particular, the proposed share capital increase is expected to allow Eurobank to:

• Meet the capital needs as set by the Bank of Greece;

• Strengthen the capital position, by increasing the Core Tier 1 ratio to approximately 19.3% on a pro-forma basis as of 31 December 2013;

• Materially broaden the private shareholder base and free-float;

• Support the recovery of the Greek economy.

Christos Megalou, Eurobank Chief Executive Officer, commented:

“2013 was a transformational year for both Eurobank and the Greek economy. For Eurobank, the inception of the new management and the successful acquisition of the New TT Bank and the New Proton Bank marked a new chapter as one of the four systemic Greek banks.

Today’s announcement represents another key milestone, as we are working closely and with the full support of our main shareholder, the HFSF, towards strengthening Eurobank and broadening its shareholder base.

This capital increase will provide the financial resources needed for Eurobank to meet the capital requirements and also be in the forefront of the opportunities provided by the rapidly improving conditions in the Greek economy.

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Comentarii

De la: ioanSubiect:

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Comentariu:

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De la: carmenSubiect:

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Comentariu:

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De la: popescu tinca Subiect:

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Comentariu:

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De la: nicoletaSubiect:

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Comentariu:

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Comentariu:

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imprumut personal

Comentariu:

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De la: CulinaSubiect:

As vrea un credit

Comentariu:

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De la: CulinaSubiect:

As vrea un credit

Comentariu:

De la: CulinaSubiect:

As vrea un credit

Comentariu:

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Comentariu:

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De la: mateiuc andreeeaSubiect:

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Comentariu:

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De la: Vasile ComanSubiect:

credit daca lucrati in Irlanda

Comentariu:

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De la: Manole Doru Costin Subiect:

Împrumut

Comentariu:

Buna ziua a-și dori fac un împrumut cu contractul de munca din Spania am contactat pe perioada nedeterminata nominalizat de 850 de euro iar salariul este de 1600

De la: chiliean costelSubiect:

pot face inprumut la dv in banca daca lucrez in anglia

Comentariu:

De la: claudiuSubiect:

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Comentariu:

Salut lucrez in Anglia de 2 ani cu contract pe perioada nedeterminata am salariu 1900/2000 lire net as putea obtine credit pentru prima casa , Ce acte imi trebuie

De la: Dudu nita Subiect:

Salut as vrea sa știu dacă as putea sa obțin un împrumut la dumneavoastră dacă lucrez în Germania și am contract limitat suma ar fi 3000 euro salariul meu este de 1500 bruto

Comentariu:

De la: NinaSubiect:

va salut cu respesc numele meu este Nina Chirita muncesc in Anglia legal taxe impzite asigurari platite salariu este de 1500 lire lunar va rog sami spuneti daca as putea un imprumut de 2000 de lire pe un an ce condii sa indeplinesc va multumesc anticipat

Comentariu:

De la: Viorel Vasile Ciobanu Subiect:

lucrez în Spania cu contract indefinit un salariu de 1050€

Comentariu:

As vrea s? știu dac? pot inprumuta banii în România pentru a cump?r? un apartament în România lucrând în Spania cu contract indefinit

De la: DAVID PETRICA Subiect:

imprumut pentru casa

Comentariu:

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De la: stingu jeni magdaSubiect:

pentru credit

Comentariu:

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De la: VasileSubiect:

Doresc un imprumut

Comentariu:

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De la: Nistor lenutaSubiect:

Credit

Comentariu:

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De la: DragosSubiect:

Buna ziua

Comentariu:

1. Ce trebuie sa depun garanție, pentru o suma de 50.000€. 2. Salariu net 1950€-Germania 3. Pe câți ani se poate face credit-ul 4. Care este suma pe care trebuie sa o înapoiez Mulțumesc.

De la: nita gianinaSubiect:

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Comentariu:

De la: AnaSubiect:

Comentariu:

Slut, ma numesc Ana, sunt din moldova Am mare nevoi de un imprumut , ma puteti ajuta va rog ?mersi --

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Credit pt casa

Comentariu:

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De la: bratu stanSubiect:

0749465541

Comentariu:

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De la: Petrica DavidSubiect:

CREDIT PT CASA

Comentariu:

eu lucrez in italia am salar de 1200 euro pe luna asi dori sa cumpar o casa in Romania in zona rurala pe langa iasi asi putea lua un imprumut de 30000 euro rambursabil in 10 ani?

De la: IuliaSubiect:

Imprumut bancar

Comentariu:

Buna ziua,lucrez de 4 ani in Germania dar nu la aceiasi firma,pot lua un credit daca nu am contract nedeterminat?astept un raspuns.va multumesc

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