BNPP tenders for €3bn Fortis Cashes in Ageas unwind

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BNPP tenders for €3bn Fortis Cashes in Ageas unwind

BNP Paribas on Thursday launched a tender offer for €3bn of convertible and subordinated hybrid equity-linked securities (Cashes) issued by Fortis Bank, in a deal that unwinds a complex arrangement underlying the 2009 restructuring of the Dutch lender.

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