Bloomberg News

Piraeus Bank to Buy Back as Much as EU600 Million of Securities

March 02, 2012

Piraeus Bank SA (TPEIR), Greece’s fourth- biggest lender, offered to buy back as much as 600 million euros in securities too bost its Core Tier 1 capital.

The bank offered to buy back in cash 200 million euros of preferred securities and 400 million euros of lower tier 2 notes, according to an Athens bourse filing today.

The deadline for accepting the offer is March 9 and the deal managers are Barclays Plc (BARC) and Morgan Stanley (MS), the bank said in the filing.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Natalie Weeks at nweeks2@bloomberg.net


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