FORM 6-K
REPORT
OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 or 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
January 3, 2003
BBVA
Banco Francés S.A.
(Translation of registrant's name into English)
______________
Reconquista 199, 1006
Buenos Aires, Argentina
(Address of principal executive offices)
______________
Indicate by check mark whether the Registrant files or will
file
annual reports under cover Form 20-F or Form 40-F:
FORM
20-F [X |
] | FORM 40-F [ ] |
Indicate by check
mark whether the Registrant by furnishing the information
contained in this form is also thereby furnishing the information to the Commission
pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
YES
[ ] |
NO [X] |
BBVA Banco Francés S.A.
TABLE OF CONTENTS
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1. | Press Release dated January 2, 2003 announcing the rights offering of up to 209,631,892 of BBVA Banco Frances' common book entry shares. |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
BBVA Banco Francés S.A. | |
Date: January 3, 2003 | By: /s/ María
Elena Siburu de López Oliva Name: María Elena Siburu de López Oliva Title: Investor Relations Manager |
CONTACT: | María Elena
Siburu de López Oliva Investor Relations Manager Phone: (5411) 4341 5035 E-mail: mesiburu@bancofrances.com.ar |
María
Adriana Arbelbide Investor Relations Phone: (5411) 4341 5036 E-mail: marbelbide@bancofrances.com.ar |
Buenos Aires, January 2, 2003
BBVA Banco Francés
hereby informs that on Thursday, December 26, ended the subscription period
of ten days for the rights offering of up to 209,631,892 of its common book
entry shares of $1 nominal value and one vote per share, entitled to dividends
on the same conditions as the shares of the company outstanding.
This rights offering took place in Argentina. The price set for the new shares
was $ 3.59 and 158,496,540 million shares were subscribed - considering both
those subscribed exercising the preferential right and those subscribed by increasing
shareholding; the remaining 51,135,352 non subscribed new shares were cancelled.
Accordingly the capital stock of BBVA Banco Francés increased from 209,631,892
shares to 368,128,432 shares. Such capital increase was realized by the capitalization
of certain eligible assets and cash. As a result of the capitalization Banco
Bilbao Vizcaya Argentaria S.A. - main shareholder of BBVA Banco Francés
- increased its equity interest in the Bank from 68.2% to 79.53%.
Below we set out in detail how the New Shares subscribed have been paid in:
(i) | 77,494,904 New Shares with a loan granted by Banco Bilbao Vizcaya Argentaria, S.A. to BBVA Banco Francés S.A. for a nominal value (principal amount plus interest accrued as of Dec.16, 2002) of US$ 80,874,042.25 equivalent to $ 278,206,704.40 by conversion at the exchange rate of $ 3.44 per US$; |
(ii) | 72,374,150 New Shares with Subordinated Corporate Bonds maturing on March 31, 2005 (issued by BBVA Banco Francés S.A. for a nominal value of U$S 130,000,000 equivalent to $ 259,823,200 by conversion at the price of US$ 58.10 for each US$ 100 nominal value and at the Exchange Rate of $3.44 for each US$; |
(iii) | 8,627,486 New Shares for cash equivalent to $30,972,674.74; |
BANCO FRANCÉS HAS NOT OFFERED THE NEW SHARES TO PERSONS IN THE
UNITED STATES. THE SECURITIES OF BANCO FRANCÉS DELIVERED IN THE OFFERING
WERE NOT REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933 AND THEREFORE
MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES ABSENT REGISTRATION OR AN APPLICABLE
EXEMPTION FROM REGISTRATION REQUIREMENTS.