Erste Group to Strenghten its Capital Structure

Erste Group to Strenghten its Capital Structure / Picture: © Erste Group / Helmut Lackner

In order to strengthen its capital structure, Erste Group announced today invitations to holders of some Tier 1 and Lower Tier 2 securities to tender their Securities for purchase by the Erste Group Bank AG for cash.

The Offeror currently intends to accept for purchase up to an aggregate nominal amount or liquidation preference, as applicable, of € 500m outstanding of the Tier 1 Securities, although the Offeror reserves the right, in its sole discretion, to accept less than or more than such amount for purchase. The tender Offer period starts on 17 February 2012 and will end on 2 March 2012.