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Italian lender backs 5 bn-euro capital increase

Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility". The increase will also allow the lender to speed up a restructuring plan, due to be completed by 2017, that includes 8,000 job cuts and the closure of 550 branches.

Italian lender backs 5 bn-euro share sale

Italian bank Monte dei Paschi di Siena gave the go-ahead on Friday to a 5.0 billion euro equity raising that will boost its capital and allow it to repay a government bailout this year. The bank said in a statement the share sale would give it a strong enough "capital buffer" to withstand EU bank stress tests in the current climate of "high uncertainty and limited visibility". The increase will also allow the lender to speed up a restructuring plan, due to be completed by 2017, that includes 8,000 job cuts and the closure of 550 branches.

Monte Paschi approves increasing size of capital increase to 5 billion euros

MILAN (Reuters) - The board of Italy's Monte dei Paschi di Siena <BMPS.MI> approved increasing the size of a planned capital increase to 5 billion euros ($6.9 billion) from 3 billion euros to absorb any potential loss stemming from a European health check of lenders. In a statement on Friday, the bank said the higher capital increase may also allow it to repay early 4.1 billion euros of state aid it received last year.

Portugal says it will return to mainstream bond market

Portugal on Thursday said it plans to make its first pre-announced government bond auction since April 2011, ahead of exiting its bailout programme next month. The national debt management agency IGCP said it would make a regular, long-term bond issue on Wednesday aiming to raise 500-750 million euros ($690-1.0 billion) with a 10-year term. The issue is Lisbon's latest step towards returning to full market financing after it was forced to seek a rescue package from the EU and IMF three years ago.

Greece's Eurobank to seek 2.86-bn euro capital hike

Greece's Eurobank on Saturday said its board had approved a 2.86-billion-euro ($4-billion) capital increase, in the latest move by one of the country's biggest lenders to bolster its reserves. "The general meeting approved...the increase of the share capital of the bank by up to 2.864 billion euros," the bank said in a statement. Up to 9.54 billion in new shares will be issued and according to reports, the capital hike is expected to be completed by May.

Troubled eurozone states emerge from crippling crisis

Bailed-out Greece made a strong return to the bond markets Thursday after a four-year hiatus, raising 3.0 billion euros and sending a clear sign that the eurozone is putting its crippling debt crisis behind it. Here is a run-down of the situation in eurozone states which came under pressure during the crisis over their public finances. GREECE Athens, which obtained international aid worth 240 billion euros, hopes to exit the massive rescue programme in 2016.

Greece raises 3.0 bn euros at 4.75%: finance ministry

Greece's finance ministry on Thursday said a landmark five-year bond sale, the nation's first in four years, had raised 3.0 billion euros ($4.1 billion) at an interest rate of 4.75 percent. "The Hellenic Republic today announces that it has agreed to sell a five-year bond in a principal amount of 3.0 billion euros with an annual coupon (yield) of 4.75 percent," the ministry said. bur-jph/hd

Greece hopes to raise 3.0 bn euros with bond sale: govt spokesman

Greece hopes to raise 3.0 billion euros ($4.1 billion) with a milestone five-year debt sale marking its return to bond markets after four years, the government spokesman said on Thursday. "A sum in the order of 3.0 billion euros will probably be raised," government spokesman Simos Kedikoglou told To Vima radio. bur-jph/hd

Greece can use bank rescue cushion to avert new bailout

Greece wants to use some 11 billion euros ($15 billion) left in its EU bank rescue package to meet upcoming needs and avoid a new bailout loan, a government source said on Wednesday. "The 11 billion euros can keep Greece from needing a third loan," a Greek finance ministry source said on the sidelines of a two-day Eurogroup meeting in Athens. "We are covered for the next 12 months. With this 11 billion we will be covered to 2016. It's simple logic," said the official, speaking on condition of anonymity.

Greece to get 6.3 bn euro loan slice in April

Greece will receive 6.3 billion euros ($8.7 billion) from its pending EU bailout fund at the end of April, Eurogroup chief Jeroen Dijsselbloem said on Tuesday. "A first tranche of 6.3 billion euros at the end of April will allow Greece to meet its debt servicing needs in May," Dijsselbloem said during a Eurogroup meeting in Athens. bur/jph/hd
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