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Finansbank Raises US$220 Million Through Eurobond Issue
Finansbank announced that it raised a total of US$220 million from international markets through Eurobond issue.
Finansbank announced that it raised a total of US$220 million from international markets through Eurobond issue. The bank mandated Morgan Stanley & Co International for the Eurobond issue. As one may recall, there were media reports suggesting that the National Bank of Greece and Citibank will submit their bids for a possible purchase of shares in Finansbank by March 29. Citibank, Dexia from Belgium and DZ Bank from Germany are also said to be interested in Finansbank. Reportedly, Citigroup offered US$4.5 billion for Finansbank while DZ Bank's bid is around US$4 billion.
Fiba Holding, the main shareholder in Finansbank, authorized Morgan Stanley to seek and evaluate strategic options for a possible partnership, cooperation and share sale regarding the bank, and in December 2005, Morgan Stanley started talks with possible investors.