Erste Group to Strenghten its Capital Structure

Business › n.a. ♦ Published: February 17, 2012; 13:11 ♦ (Vindobona)

The Austrian banking group offers to buy back Tier1 and Tier2 securities .

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…

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