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National Bank of Greece SA Announces Successful Coverage Of Rights Issue


Friday, 14 Jun 2013 12:59pm EDT 

National Bank of Greece SA announced that the total percentage of the rights offering covered by private investors (under Cabinet Act 6/5-6-2013) was 10.8%; 75% of the participation in the share capital increase was carried out by exercising preference rights. Almost 50% of the rights issue was subscribed by international investors, implying that Greece has benefited from about EUR 500 million in foreign direct investment; 1/3 of the increase was covered by domestic households, comprising approximately some 120,000 investors, reflecting the broad shareholder base of the Bank; 2/3 of the share capital increase was covered by existing shareholders. In view of the amount raised, contingent convertible bonds (CoCos) need not be issued.