Societe Generale wants to pay off debts to the state

The BNP Paribas will also increase the French Societe Generale bank capital repaid to State aids. The capital will increase by 4.8 billion euros, Société Générale in Paris. Tuesday, 6 October 2009 / 16:32 For the 3.4 billion euro capital of the state aid would be eliminated and included funds for acquisitions. A new share will cost 36 euros, a discount of nearly 27 percent to the closing price of Monday evening. For nine existing shares would be offered two new papers. The subscription period runs from 9 to 20 October. The French bank Societe Generale wants to pay back state aid. / Last week, BNP Paribas had already launched a capital increase of 4.3 billion euros in order to redeem itself from the state. The market leader had received 5.1 billion euros from the state. How the Societe Generale, BNP Paribas had to commit to supplying the industry with loans to pay for 2008, no bonuses to managers and to amend the remuneration of the stock traders. Overall, the state had reached the banks with more than 20 billion euros under the arms.