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Bawag Buys Back Hybrid Capital
The U.S. owned Austrian bank purchases € 300m in hybrid capital back in order to strengthen the equity base.
Bawag Buys Back Hybrid Capital / Picture: © Vindobona.org
After Erste Group and RBI, also Bawag buys back issued hybrid capital. The volume of buyback amounts to € 300m. A tranche of € 158m could be bought back at a 70% quota. Moreover hybrid securities of 14bn Yen (€ 129.4m) were bought back completely. The overall buy-back quota reaches 65%, Bawag states.
To what extent the buy-back may strengthen the bank´s equity capital was…
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