BCP announces hybrid sale and rights issue
Portuguese lender Banco Comercial Portugues on Tuesday approved its recapitalisation plan. The bank will sell €3bn of hybrid securities to the Portuguese state by the end of June, as well as conducting a capital increase.
The bank will raise 500m in a government backed rights issue at 0.04 per share. A spokesperson at the bank said this would put it comfortably above regulatory requirements.
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.