Cyprus's Hellenic raises 201 mln euro in new capital

Hellenic Bank Pcl

13/12/2014 08:40

NICOSIA, Dec 13 (Reuters) - Cyprus's Hellenic Bank has 
raised 201 million euros ($250.45 million) in new capital, 
covering the adverse scenario capitalisation shortfall of 
Europe-wide stress tests in October. 
    The bank said its three major shareholders -- Wargaming, 
Third Point Hellenic Recovery Fund and Demetra Investments -- 
fully supported the rights issue. 
     Stress tests found a 105 million euro gap in the 
capitalisation of Hellenic under adverse conditions. Hellenic 
said that the capital issue brought its common equity tier 1 to 
12.8 percent. 
    It said the bank had the right to raise an additional 20 
million euros in capital corresponding to unexercised rights 
before the end of January 2015 if necessary. 
 
 
($1 = 0.8026 euros) 
 
 (Reporting By Michele Kambas; Editing by Andrew Heavens) 
 ((michele.kambas@thomsonreuters.com;)) 
 
Keywords: CYPRUS HELLENIC BANK/