ECONOMY

Eurobank gets offers for 720 mln euros in debt buyback

eurobank-gets-offers-for-720-mln-euros-in-debt-buyback

Greece's Eurobank received offers for 720 million euros from bondholders in an exchange offer on its outstanding subordinated and senior bonds, a bank official said on Friday.

The bank was seeking to exchange 20 bond issues with new shares under the buyback offer.

Eurobank said on Thursday it received subscription commitments of about 353 million euros from institutional investors for its planned share offering to raise up to 2.12 billion euros.

The bank, Greece's third-largest lender, was identified with the lowest capital needs of 2.12 billion under an adverse scenario of stress tests carried out by the European Central Bank on October 31. It required 339 million under a baseline scenario.

[Reuters]