Banco Popolare's board of directors approved the full repayment in cash of the nominal one billion euro convertible bond loan (natural expiry on 24 March 2014). The BoD also approved a capital increase up to a maximum of 1,5 billion euro, the underwriting of which is already fully guaranteed by Mediobanca and Ubs.
Estimates for 2013 have also been updated which, due to the increase in the cost of credit and other extraordinary impacts in the fourth quarter, will lead to a loss for the year of "approximately 600 million euros". The BoD, according to the press release, has resolved to convene the extraordinary shareholders' meeting for March 2014, XNUMX.
