KA Finanz Needs € 1.0bn

Business › n.a. ♦ Published: March 9, 2012; 20:07 ♦ (Vindobona)

Due to write-offs of Greek sovereign bonds, the “bad bank” of the nationalized Kommunalkredit has a capital shortfall of € 1.0bn.

KA Finanz Needs € 1.0bn / Picture: © Kommunalkredit

Today the Republic of Greece announced the results of the debt restructuring votes under the Private Sector Involvement (PSI) programme agreed with the Institute of International Finance (IIF) and published on 24 February 2012. KA Finanz has participated in the PSI programme with Greek government bonds of a nominal value of € 305m.

The PSI programme basically provides for the…

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