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Salas de prensa: CaixaBank|Banking Foundation | Foundation|CriteriaCaixa

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Friday, 24 March 2017
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Barcelona, Friday 3 June 2011 “la Caixa" successfully completes sales of a convertible bond issue, having received 339,000 subscription orders +worth 1,741 million euros
• The issue will reinforce CaixaBank solvency levels and put its core capital ratio at 11%.

• CaixaBank’s future shareholder base will be made up of 638,000 shareholders, after adding 273,000 new investors.

• The conversion price is 5.5253 euros, which represents 105% of Criteria’s weighted average share price over the 10 trading days of the subscription period.

As part of the restructuring of “la Caixa” group, the entity today completed sales of a subordinated bond issue mandatorily convertible into CaixaBank shares, worth 1,500 million euros. This figure will reinforce the solvency of “la Caixa” Group’s new instrumental bank and give it a core capital ratio of 11%, one of the highest in the Spanish financial system.

The issue was exclusively marketed through the "la Caixa" branch network, which in just 10 days received customer orders worth 1,741 million euros for CaixaBank subordinated bonds, outstripping the 1,500 million euros anticipated, meaning apportionment will be required, the results of which will be heard next week.

The operation attracted a total of 339,000 subscription orders, with a minimum investment per participant of 500 euros (5 bonds) and a maximum of 100,000 (one thousand bonds).

The issue also sees the entity achieve another of its goals: to substantially extend the shareholder base of the future CaixaBank. A further 273,000 new shareholders, who have acquired CaixaBank bonds, will join the existing 365,000 Criteria shareholders, putting the bank’s shareholder base at 638,000.
The conversion price for the shares is 5.5253 euros, which represents 105% of Criteria’s weighted average share price over the 10 trading days of the subscription period.

Apportionment (via lineal and proportional allocation) will take place between the 6th and 9th of June, with the bonds being paid out on 10thJune. Each bond will have a nominal value of 100 euros and must be swapped for CaixaBank shares after a term of 18 months for half of the obligations and 30 months for the rest. The bonds will carry a fixed annual remuneration of 7% over the nominal value. Coupons will be payable on a quarterly basis, with maturities on 30th of September, December, March and June.

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