Greece's bank bailout fund clears NBG's planned equity offering

ATHENS, April 16 Wed Apr 16, 2014 11:30am EDT

ATHENS, April 16 (Reuters) - Greece's bank bailout fund HFSF has given the green light to plans by National Bank (NBG) to proceed with a share offering of up to 2.5 billion euros to plug a capital shortfall, a senior banking source with direct knowledge of the matter told Reuters on Wednesday.

Greece's biggest lender, which must plug a 2.18 billion euro ($3.03 billion) capital shortfall under the terms of the country's international bailout, has picked Goldman Sachs and Morgan Stanley as global coordinators for the offering, bankers have previously said.

NBG's board is meeting on Wednesday to decide on the issue. (Reporting by George Georgiopoulos, editing by Costas Pitas)

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Comments (1)
Gbuck wrote:
The value of the article would be significantly higher if it was accompanies by the share price that the offering will be tendered at. Without this important price point, dilution can not be determined.

Apr 16, 2014 2:00pm EDT  --  Report as abuse
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