ECONOMY

Piraeus Bank moves to boost Core Tier 1 capital

Piraeus Bank SA, Greece?s fourth-biggest lender, offered to buy back as much as 600 million euros in securities to boost its Core Tier 1 capital.

The bank offered to buy back in cash 200 million euros of preferred securities and 400 million euros of lower Tier 2 notes, according to an Athens bourse filing on Friday.

The deadline for accepting the offer is March 9 and the deal managers are Barclays Plc and Morgan Stanley, the bank said in the filing.

[Bloomberg]