BIL tenders for €600m to build regulatory capital
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 BILs regulatory capital and offer liquidity to investors, it said.
If the buyback is oversubscribed, a 225m 6.821% perpetual tier one will be ...Already a subscriber? Login