BCP finishes €1.33bn oversubscribed rights issue to repay government CoCo bonds

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By Aidan Gregory
06 Feb 2017

Shares in Banco Comercial Português rose as much as 9.3% on Monday after it announced late on Friday the successful completion of its €1.33bn rights issue to strengthen its core tier one capital ratio and finance the redemption of contingent convertible bonds owned by the Portuguese government.

Goldman Sachs and JP Morgan were global co-ordinators, while Credit Suisse, Bank of America Merrill Lynch and Mediobanca were bookrunners.

BCP said it had received subscriptions for 98.4% of the shares on offer. The remaining 225.8m shares were available to satisfy oversubscription orders, which totalled 3.4bn shares, roughly ...

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