Euroinvestment: Increase in capital base with the issue of subordinated loan to Piraeus Bank
23/4/2004 10:13
Further to our announcement dated April 5, 2004, we wish to inform you that we have proceeded to the increase in the Company’s capital base with the issue of a subordinated loan to Piraeus Bank SA (6.9mln euros - £4.0mln).
As a result, there has been a significant improvement in the Capital Adequacy Index (of more than 20% compared to a minimum 10% required by the Central Bank of Cyprus) and the expiry of obligations (since the new loan has a 6-year duration and provides for a payment on expiry).
As a result, there has been a significant improvement in the Capital Adequacy Index (of more than 20% compared to a minimum 10% required by the Central Bank of Cyprus) and the expiry of obligations (since the new loan has a 6-year duration and provides for a payment on expiry).
