{"id":18636,"date":"2018-11-26T09:48:06","date_gmt":"2018-11-26T07:48:06","guid":{"rendered":"https:\/\/bestinsurance.gr\/a1\/?p=18636"},"modified":"2018-11-26T09:48:06","modified_gmt":"2018-11-26T07:48:06","slug":"eurobank-grivalia-properties-to-merge-securitize-npes","status":"publish","type":"post","link":"https:\/\/bestinsurance.gr\/a1\/archives\/18636","title":{"rendered":"Eurobank, Grivalia Properties to Merge, Securitize NPEs"},"content":{"rendered":"<section class=\"news-header\"><span class=\"news-dateline\">(Bloomberg) &#8212;<\/span><\/section>\n<section class=\"news-rsf-news-body\">Greece\u2019s <a id=\"url-id-0\" class=\"link-enabled\" title=\"Company Overview\" href=\"bloomberg:\/\/commands\/EUROB%20GA%20Equity%20DES\">Eurobank Ergasias<\/a>announced plans to merge with real estate fund Grivalia Properties in a deal that will see the lender also securitize about 7 billion euros ($7.9 billion) of troubled loans.<\/p>\n<p>The deal will see the bank\u2019s ratio of non-performing exposures drop to about 15 percent by the end of 2019, from 39 percent currently, then into single digits by 2021, the two companies said in a joint statement. The deal will also increase the restructured lender\u2019s common equity tier one ratio to 16.6 percent from 14.6 percent currently.<\/p>\n<p>Shares in the merged company will start trading on April 24, according to the statement. The deal boosts Eurobank\u2019s capital by more than 800 million euros, according to a person familiar with the deal, who asked not to be identified.<\/p>\n<p>The exchange ratio proposed is about 15.81 new Eurobank ordinary shares for every one <a id=\"url-id-1\" class=\"link-disabled\" title=\"Share Price Table\" href=\"bloomberg:\/\/commands\/GRIV%20GA%20Equity%20HCPI\">Grivalia<\/a>ordinary share, according to the statement. Eurobank shareholders will retain the number of Eurobank ordinary shares they currently hold, the companies said.<\/p>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>(Bloomberg) &#8212; Greece\u2019s Eurobank Ergasiasannounced plans to merge with real estate fund Grivalia Properties in a deal that will see the lender also securitize about 7 billion euros ($7.9 billion) of troubled loans. The deal will see the bank\u2019s ratio of non-performing exposures drop to about 15 percent by the end of 2019, from 39<\/p>\n","protected":false},"author":1,"featured_media":18312,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[2],"tags":[],"class_list":["post-18636","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-2"],"jetpack_publicize_connections":[],"_links":{"self":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18636","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/comments?post=18636"}],"version-history":[{"count":1,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18636\/revisions"}],"predecessor-version":[{"id":18637,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/posts\/18636\/revisions\/18637"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media\/18312"}],"wp:attachment":[{"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/media?parent=18636"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/categories?post=18636"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bestinsurance.gr\/a1\/wp-json\/wp\/v2\/tags?post=18636"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}