The Hellenic Financial Stability Fund (“HFSF”), which currently owns 95.2% of the
common shares of Eurobank Ergasias S.A. (“Eurobank”) announces the initiation of the process for Eurobank to raise approximately €2 billion through a capital increase.
The final amount of the capital increase will be determined by Eurobank and the
HFSF, taking into account the publication of the capital needs currently being
assessed by the Bank of Greece for the Greek banking sector.
This proposed capital increase constitutes a step towards further strengthening
Eurobank’s capital position and enhances the bank’s ability to support the Greek
economy.
The proposed capital increase will be effected through a marketed equity offering, in
the context of which the HFSF may consider allowing an anchor investor or a
consortium of anchor investors to acquire a significant stake in Eurobank and also
reserves the right to subscribe to the proposed capital increase.
As Mrs. Anastasia Sakellariou, CEO of HFSF stated: “Within the context of our
ongoing efforts to stabilize and reinforce the banking system, we announce today
the initiation of the process for the share capital increase of Eurobank, which will
facilitate its swift return to the private sector. HFSF will make every effort to ensure
the success of this transaction in order to further strengthen the confidence in the
Greek economy”.
Lazard Frères has been appointed financial adviser to the HFSF.