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BRIEF-Banca Sistema board approves issuance of Tier II subordinated bond of EUR 14 mln
March 28, 2017 / 11:41 AM / 6 months ago

BRIEF-Banca Sistema board approves issuance of Tier II subordinated bond of EUR 14 mln

March 28 (Reuters) - Banca Sistema SpA:

* Board approves issuance of Tier II subordinated bond of 14 million euros ($15.19 million), reserved for institutional investors in private placement

* The bond has a 10-year maturity, with a six-monthly EURIBOR 6M + 450bps coupon and early redemption option in case of a regulatory event

* The settlement will be carried out on March 30

* The issue to be subscribed by Fondazione Pisa, which holds a 7.40 pct share in the company Source text for Eikon: Further company coverage: ($1 = 0.9214 euros) (Gdynia Newsroom)

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