National Bank of Greece ADR (fka NBGGY)

[NewbieWar]

Found this on a Yahoo board

The National with larger capital needs 5.2-5.3 billion but ... surprise immediately repaying all cocos
The National will implement PRM 5.2 to 5.3 billion. which about 1.7 billion. to a base and about 3.5 billion. unfavorable (with some variations the numbers mentioned).
The National will immediately proceed to an exchange offer for all bonds and senior and this development will reduce the final amount of the minimum capital growth.
The 3,5-3 H, 4 billion. The adverse scenario would cover 2.6 billion. cocos and 900-800 million euro capital increase.
National but H has decided to proceed with a major - groundbreaking decision to repay cocos convertible bond with an interest rate of 8% will cover the FSF, selling directly strategic rate of Finansbank. Finansbank.
The current capitalization of Finansbank amounts to EUR 5.9 billion. Which means that selling 51% or 67% can raise funds to repay cocos convertible bonds.
The National but I have to repay 1.35 billion. Preference shares .
It is not excluded to sell 99% of Finansbank ie to withdraw fully from Turkey repaying the cocos and preference shares.
The National in this case will lose Finansbank but it will be the only bank with minimal state assistance.
Banks want to quickly repay cocos bond convertible into shares because there is a danger to convert ... .In shares and over the state to acquire a large share in banks