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| EUBK > SEC Filings for EUBK > Form 8-K on 7-Jan-2008 | All Recent SEC Filings |
7-Jan-2008
Entry into a Material Definitive Agreement, Financial Statements and Exhibits
On January 2, 2008, Eurobank, a commercial bank organized under the laws of the Commonwealth of Puerto Rico ("Eurobank"), entered into a Joint Account Agreement with Oppenheimer & Co. Inc., a New York corporation ("Oppenheimer"), for the purpose of jointly pursuing underwriting and other types of engagements with the Commonwealth of Puerto Rico and its municipalities and public corporations. In accordance with the terms of the Joint Account Agreement, Eurobank and Oppenheimer will jointly pursue (i) the assignment of Eurobank and/or Oppenheimer as "bookrunning" manager, co-senior manager, or co-manager in the underwriting syndicates for public debt issues of municipal issuer clients in the United States tax-exempt or taxable debt markets, (ii) the engagement of Oppenheimer as a derivative advisor to municipal issuer clients and not as a provider of derivative products, and (iii) the assignment of Eurobank and/or Oppenheimer as "bookrunning" manager, co-senior manager or co-manager for a non-governmental issuer in the Commonwealth of Puerto Rico (including a government conduit financing) in a bond issue to be sold in the United States tax-exempt or taxable debt markets.
The Joint Account Agreement is effective until December 31, 2008, and will be automatically renewed for additional one-year terms unless either party provides written notice to the other of its intent to terminate the agreement. During the term of the agreement, Eurobank and Oppenheimer will share fees and commissions generated from the assignments on a transaction-by-transaction basis.
A copy of the Joint Account Agreement is filed with this report as Exhibit 1.1 and is incorporated by reference herein. A copy of the press release announcing the execution of the Joint Account Agreement is also attached to this report as Exhibit 99.1.
(c) Exhibits
1.1 (1) Joint Account Agreement, dated January 2, 2008
99.1 Press release of EuroBancshares, Inc., dated January 3, 2008.
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 hereunto duly authorized.
Date: January 4, 2008 By: /s/ Rafael Arrillaga-Torréns, Jr. Rafael Arrillaga-Torréns, Jr.
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