Austria's Volksbanken offers to buy back notes

VIENNA Mon Dec 10, 2012 9:11am EST

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VIENNA Dec 10 (Reuters) - Austria's partially state-owned Volksbanken AG offered on Monday to buy back hybrid notes due in 2016 as a way to improve its capital structure.

The bank issued a nominal 300 million euros worth of the subordinated lower tier II notes and has offered to buy them back at 75 percent of face value, it said in a statement.

BNP Paribas and Volksbanken are joint dealer managers for the offer, which runs until Dec. 18. (Reporting by Michael Shields; Editing by Greg Mahlich)

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