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Equity

Piraeus ‘delighted’ after over-subscription boosts FIG tone

Piraeus Bank released a detailed breakdown of the over-subscription level on its Eu807m rights issue on Tuesday following Monday’s completion of the deal. The closure of the Greek bank’s transaction, together with plans announced this week by Spanish lenders to raise capital, have helped contribute to contracting credit spreads for European financials and sovereigns, said analysts.

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