BIL tenders for €600m to build regulatory capital

08 Jan 2013

Banque Internationale à Luxembourg, formerly part of Dexia, is offering to buy back a tier one and four lower tier two securities in a cash tender offer designed to bolster its regulatory capital.

Around €600m equivalent of paper is eligible for the offer, but the bank has capped the buyback at €350m.

The buyback was designed to optimise BIL’s regulatory capital and offer liquidity to investors, it said.

If the buyback is oversubscribed, a €225m 6.821% perpetual tier one will be ...

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