believes that international investors will take part in Sareb's capital providing some EUR 500 million, Carrascosa added.
5 billion loan from the Spanish bailout fund FROB
to Bankia was converted into a 45 percent stake in the bank.
In exchange for the funds, FROB
will purchase perpetual convertible preference shares of New Bank that are convertible to voting shares if not redeemed in five years.
would have to raise debt on the market to purchase the bank stakes.
He said shares could extend gains if sufficient transparency can be delivered so investors can make their own calculations of the risks, and if the recapitalisation mechanisms such as Spain's FROB
, Germany's SoFFin and a wider European Financial Stability Facility are available for struggling banks.
, with a funding capacity of up to 99 billion euros ($123.
45bn) within 15 years, local daily Cinco Dias said, citing the business plan, made by bank restructuring fund FROB
with the objective to attract private investors.
1] N[ETH][micro]NNNN[ETH]*NNN[ETH][cedilla][ETH]*[ETH][degrees]N[ETH][cedilla][ETH][cedilla], FROB
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The Eurogroup also said money could be funnelled to Spain's FROB
bank fund although the government would "retain the full responsibility of the financial assistance".
Following the initial FROB
meeting in April with the commission, the Sea Launch partners performed internal inspections of already manufactured and tested RD-171M engines, with the objective of confirming the LOx feed system and pumps were free of debris.
The corrective action and rework plan for all Breeze M upper stages that was established by the Russian State Commission and Khrunichev State Research and Space Production Center (KhSC) was also approved by the FROB
3][ETH]3/4 N[ETH]3/4[ETH]1/2[ETH][acute accent][ETH][degrees] N[ETH][micro]NNNN[ETH]*NNN[ETH][cedilla][ETH]*[ETH][degrees]N[ETH][cedilla][ETH][cedilla] FROB