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Erste Group launches additional tier 1 notes programme
June 25, 2014 / 8:02 AM / 3 years ago

Erste Group launches additional tier 1 notes programme

VIENNA, June 25 (Reuters) - Austrian lender Erste Group has launched a 2 billion euro ($2.72 billion) Additional Tier 1 notes programme, it said in a prospectus posted on its website.

It said Barclays was the arranger for the programme while Barclays and Erste would be dealers.

Net proceeds would be used for general funding purposes, to strengthen Erste’s capital base and to optimise the composition of its own funds, it said.

Erste posted a common equity tier 1 capital ratio of 11.1 percent of risk-weighted assets at the end of the first quarter.

For details see: here

$1 = 0.7355 Euros Reporting by Michael Shields; Editing by Erica Billingham

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