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Erste Group: Profitable Hybrid Buyback
Erste Group expected to book pre-tax gain of up to € 300m on hybrid buyback.
Erste Group: Profitable Hybrid Buyback / Picture: © Erste Group / Helmut Lackner
Erste Group is expected to book a pre-tax gain of up to € 284m on its offer to buy back € 1.3bn of hybrid instruments.
"According to our calculations, Erste's maximum pre-tax gain would be € 284m if € 500m of priority 1 bonds and all of the LT2 are tendered. If all bonds are tendered, i.e. if Erste increases its acceptance amount, the pre-tax gain would be € 395m",…
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