Bloomberg News

Raiffeisen Said to Plan Capital Swap to Meet EBA Stress Rules

October 27, 2011

Oct. 27 (Bloomberg) -- Raiffeisen Bank International AG and its parent company Raiffeisen Zentralbank Oesterreich AG plan to ask owners of as much as 1 billion euros ($1.4 billion) of non- voting capital to swap it into funds that are recognized by the European Banking Authority, according to a person familiar with the plans.

The plan will probably be one of the measures the lender will take to fill a 1.9 billion-euro capital gap EBA found at RZB, said the person, who was speaking on condition of anonymity because the plan isn’t public.

Raiffeisen declined to comment.

--Editors: Zoe Schneeweiss, Angela Cullen

To contact the reporter on this story: Boris Groendahl in Vienna at bgroendahl@bloomberg.net

To contact the editor responsible for this story: Angela Cullen at acullen8@bloomberg.net


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