Key Developments: Caixabank SA (CIXPF.PK)
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19 Dec 2012
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Latest Key Developments (Source: Significant Developments)
CaixaBank SA Sells Stake Of Grupo Financiero Inbursa SAB de CV-Reuters
Reuters reported that CaixaBank SA said it had sold 3.7% of Grupo Financiero Inbursa SAB de CV for EUR387 million and a capital gain of EUR33 million. The Barcelona-based lender said it would sell another 6.4% of Inbursa in Mexico, with a tranche for international investors, and would keep up a stake of 9.0% to 9.9% in Inbursa. Full Article
CaixaBank SA To Sell Stake In Grupo Financiero Inbursa SAB de CV-Reuters
Reuters reported that CaixaBank SA may sell around 10% of Grupo Financiero Inbursa SAB de CV, in response to renewed pressure to shed investments and bulk up capital. A sale of the stake, worth $1.6 billion, would reduce Caixabank's holding by half and bring in a sizeable profit if it sold at current market prices. The Spanish bank declined to comment on the capital gain it is expecting from the Mexican sale, only adding that the deal was dependent on pricing and market conditions. Full Article
Fitch Ratings Affirms Its Long-Term IDR Of CaixaBank SA-Reuters
Reuters reported that Fitch Ratings has affirmed its long-term Issuer Default Ratings (IDR) of CaixaBank SA at BBB. The rating outlook on the long-term IDRs is negative. Full Article
CaixaBank SA Prices EUR 1 Billion Bond Issue-Reuters
Reuters reported that CaixaBank SA has priced a EUR 1 billion bond issue with a maturity date on May 14, 2018. Barclays, Caixabank, CA-CIB, Goldman Sachs & HSBC were lead managers of the sale, which has the following terms: a coupon of 3.125%, issue price of 99.708 and spread of 245 basis points. The Payment Date of the bonds is set on May 14, 2013. Full Article
CaixaBank SA Plans FY 2013 Dividend Policy And FY 2013 Q2 Dividend Payment
CaixaBank SA announced that it is planning to allocate the amount of EUR 0.20 per share for the remuneration of its shareholders in the fiscal year 2013. The Company will maintain its objective to distribute payments on a quarterly basis, combining the distribution of cash dividends and shares (Dividend/Share Program). In addition, the Company’s Board of Directors intends to approve a distribution of a dividend for the second quarter of the fiscal year 2013 at a value of EUR 0.05 per share, effective in July 2013. Full Article
CaixaBank SA Sells Remaining 4.83% Stake In Tubacex SA
CaixaBank SA announced that on April 22, 2013 it sold the remaining 4.83% stake in Tubacex SA in the operation outside market, carried out with Ahorro Corporacion. The price of the sale was EUR 12,845,008 (EUR 2.00 per share). Full Article
CaixaBank SA Sells 4% Stake In Tubacex SA
CaixaBank SA announced that on April 19, 2013 it sold 5,320,000 shares of Tubacex SA (a 4% stake) in the operation outside market, carried out with Morgan Stanley. The price of the sale was EUR 10,640,000 (EUR 2 per share). As a result, the indirect participation of CaixaBank SA in Tubacex SA decreased from 8.8% to 4.8%. Full Article
CaixaBank SA To Give One Share for 479 Banco de Valencia SA’s Shares-DJ
Dow Jones reported that the Boards of CaixaBank SA and Banco de Valencia SA approved on April 4, 2013 the share-swap ratio for the minority shareholders representing 1.1% of Banco de Valencia SA's capital, as part of Banco de Valencia SA’s integration into CaixaBank SA. Caixabank SA, which already controls 98.9% of Banco de Valencia SA, said it will swap one of its shares for every 479 Banco de Valencia SA’s shares. That ratio values Banco de Valencia SA at EUR 2.54 billion (USD 3.28 billion) or EUR 0.00553. Caixabank SA's Board also approved the purchase of subordinated bonds convertible into Banco de Valencia SA’s shares and has agreed to pay each of the close to 4,000 bondholders EUR 450 per bond. Banco de Valencia SA's integration process into Caixabank SA is expected to be completed by the end of July 2013. Full Article
CaixaBank SA Trims Job Cut Target To 2,600-Reuters
Reuters reported that CaixaBank SA has reduced planned lay-offs after talks with unions but still plans job cuts as it tries to absorb a string of acquisitions. The Company announced that it would make 2,600 of its 32,625 staff redundant, instead of the 3,002 it had originally targeted, and it will try to ensure all the cuts are through voluntary departures. Full Article
CaixaBank SA Prices EUR 1 Billion 5-Year Covered Bond Issue-DJ
Dow Jones reported that CaixaBank SA has priced a EUR 1 billion, five-year covered bond. BNP Paribas, CaixaBank, Citigroup, Deutsche Bank and Societe Generale were lead managers of the sale, which has the following terms: a maturity on March 22, 2018, coupon of 3%, issue price of 99.858 and spread of 210 basis points. The Payment Date of the bonds is set on March 22, 2013. Full Article
UPDATE 1-CaixaBank sells Inbursa stake to Mexico's Slim
MADRID, June 7 - Spain's CaixaBank has sold a 3.7 percent stake in Carlos Slim's Grupo Financiero Inbursa for 387 million euros ($511 million) to the Mexican billionaire's family, part of a move to shed assets and shore up capital.
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