BBAC raises capital

Closes $80 million Preferred Shares issue

Bank of Beirut and the Arab Countries (BBAC) has raised its capital by $80 million.

BBAC announced that it has successfully completed the issuance of eight million Non-Cumulative Perpetual Redeemable Preferred Shares Series B (Tier 1) at a yield of seven percent. The issue price was fixed at $10 per share.

With this issue BBAC has raised its capital to LL157 billion ($104 million).