Cyprus USB Bank to boost capital

USB Bank Plc (USB) decided to proceed with an increase of share capital via a rights issue. The potential amount of capital to be raised is approximately EUR15 mln. The Board also decided to proceed with the issue of a 10-year convertible bond of EUR10 mln with the option to extend the face value up to around EUR15 mln. The details of the rights issue (including the exercise price of the rights, the exercise ratio from rights to shares) and the details of the convertible bond issue (including the convertibility price, the coupon) will be determined at a later stage.