The focus of the lawsuit was on how to interpret ''
repurchase transactions'' in which the bank sells bonds and later buys them back at a higher value than the selling price.
The Central Bank of Egypt (CBE) agreed to enter into a new
repurchase transaction with a consortium of international banks, for a total amount of $3.8bn, a final maturity of 4 years and six months, and an average life of 3 years, the CBE announced on Thursday.
If the counterparty agrees with the rate and date, the
repurchase transaction will occur.
As a result, and at the request of TBMA members active in the
repurchase transaction markets, the Trading Practices Committee of the TBMA Funding Division published an optional substitution/termination provision to the TBMA Master Repurchase Agreement.
Fitch expects that following the share
repurchase transaction in the third quarter of 2017, capital ratios will incrementally increase over the next several quarters.
The Central Bank of Egypt (CBE) repaid a total sum of $2bn on Thursday, honouring a
repurchase transaction with a consortium of international banks, emphasising Egypt's commitment to meet all of its liabilities and external debt duly.
Under the share repurchase programme, the company plans to purchase USD30m of common shares under an accelerated share repurchase (ASR) programme with Morgan Stanley & Co LLC pursuant to a Fixed Dollar Accelerated Share
Repurchase Transaction and USD20m of common shares from time to time on the open market.
Additionally, Fitch expects that capital ratios will increase somewhat from current levels following a share
repurchase transaction in the third quarter of 2017 (3Q17).
In addition, the previously announced private
repurchase transaction, in which OMAM expects to repurchase 5m ordinary shares directly from OM Group (UK) Limited was also priced at USD 14.55 per share.
The Central Bank of Egypt (CBE) initiated a
repurchase transaction with a consortium of international banks for a total amount of $2bn with a maturity of one year.
The aggregate purchase price for this
repurchase transaction was $24,310,380.00.
The closing of this
repurchase transaction is subject to various conditions, including the closing of the public offering.
Citrix Systems (CTXS) announced that as part of its capital return program, Citrix entered into an accelerated share
repurchase transaction with Goldman Sachs & Co.
The
repurchase transaction, which is expected to close on or prior to February 9, 2018, is expected to be funded using the proceeds of an incremental borrowing under the existing first lien term loan credit facility entered into by certain subsidiaries of the company.
The company, with the assistance of its financial advisor, Sandler O'Neill + Partners, L.P., evaluated the merits of repurchasing the stock and chose to pursue the
repurchase transaction.
