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General Bank of Greece SA Issues Convertible Bond Loan Covered By Piraeus Bank; Conversion Option Exercised By Piraeus Bank SA

Friday, 22 Feb 2013 10:47am EST 

General Bank of Greece SA (GENIKI Bank) announced that its Board of Directors, following the Resolution of the Extraordinary General Meeting of Shareholders, held on January 14, 2013, regarding the issuance of a Convertible Bond Loan, issued the said Bond Loan of EUR 350.3 million, which was entirely covered by Piraeus Bank SA, while Piraeus Bank simultaneously exercised the right to convert the bonds into common shares of GENIKI Bank, of a nominal value of EUR 1.00 and at a conversion price of EUR 6.86 per share. With the issuance of these shares and following the completion of the relevant procedure, the share capital of GENIKI Bank will amount to EUR 68,322,221 EUR divided into 68,322,221 common shares, of a nominal value of EUR 1.00 and the total stake of Piraeus Bank SA in GENIKI Bank share capital will amount approximately to 99.77%. 

Company Quote

-0.51 -8.49%
10:08am EDT