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ERB Hellas wont pay dividends on preferreds guaranteed by Eurobank
By Caroline Salls
Pittsburgh, Sept. 30 ERB Hellas Funding Ltd. will not declare or pay the dividends payable in October and November on its 300 million of series D 8.25% non-cumulative guaranteed non-voting exchangeable preferred securities, 200 million of series C fixed-rate non-cumulative guaranteed non-voting preferred securities and 400 million of series B fixed-to-floating-rate non-cumulative guaranteed non-voting preferred securities.
According to a news release, all three series of securities carry a subordinated guarantee from Eurobank Ergasias SA.
The dividend on the series D securities was payable on Oct. 29, the dividend on the series C securities was payable on Oct. 9, and the dividend on the series B securities was payable on Nov. 2.
Eurobank Ergasias is a bank based in Athens.
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