Last round of Greek banks' recapitalisation drastically shifts shareholder structures

Economy Tags: Banking

The introduction of Greek banks’ new shares for trading officially completed their last recapitalisation process. These shares largely resulted from the international bookbuilding process and the voluntary bond swap offers (LME).

In addition, two banks (NBG and Piraeus) received a total state aid of 5.4 billion, while NBG’s capital was also boosted by burden-sharing measures involving bail-in of state and US preference shares with an applied haircut of 71 and 70 percent respecti...

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