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Bondholders in 4 small Spanish banks to take 10-75 pct haircuts
December 20, 2012 / 12:46 PM / 5 years ago

Bondholders in 4 small Spanish banks to take 10-75 pct haircuts

MADRID, Dec 20 (Reuters) - Junior bondholders in Spanish banks Liberbank, BMN, CEISS and Caja 3 will take haircuts ranging between 10 to 75 percent as part of the recapitalisation plans of the lenders, the Bank of Spain said on Thursday.

The European Union on Thursday approved a cash injection of 1.87 billion euros ($2.48 billion) into the four former Spanish savings banks, the second phase of the overhaul of the country’s banking sector. (Reporting by Julien Toyer; Editing by Jesus Aguado)

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