Portugal Reaches Agreement With EU on Caixa’s Capital Increase

  • Country to inject 2.7 billion euros into state-owned bank
  • Government plans to convert 960 million euros of CoCo bonds

Portugal’s Finance Ministry said it got approval from the European Commission to inject as much as 2.7 billion euros ($3 billion) into state-owned Caixa Geral de Depositos SA, the country’s biggest bank by assets.

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