October 25, 2010
Banco de Galicia has bought back $102m outstanding of a 7% bond maturing in
Banco de Galicia has bought back $102m outstanding of a 7% bond maturing in 2014, it says. The repurchase will not have any economic effect on the bank, it says, and was done at par. “With this operation, Banco Galicia has made another step toward its goal of reducing its restructured overseas debt, originating from the 2001-2002 crisis,” the bank says. It plans to fund the repurchase with proceeds from future debt sales, an official at the bank says.