Piraeus Bank says bondholders holding 600 mln euros sign up to cash/equity swap

November 5, 2015 11:12 AM

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ATHENS Nov 5 Piraeus Bank, Greece's second largest lender by assets, said on Thursday investors holding about 600 million euros ($651 million) in bonds accepted a cash for equity swap by the bank.

Piraeus Bank announced last month its debt offer in an effort to strengthen its capital base, which has been hurt by non performing loans and concerns which flared earlier this year about Greece leaving the euro zone, triggering a deposit flight.

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