Metro Bank has reached a fundraising deal to strengthen its balance sheet, raising 325 million pounds ($396 million) and refinancing 600 million pounds to give Colombian billionaire Jaime Gilinski majority shareholder control.

The deal secured the bank’s immediate future but hurt shareholders and bondholders.

Metro Bank, founded in 2010, has struggled with accounting problems, leadership changes, and delayed regulatory permission for key capital reliefs.

The bank’s main shareholder, Spaldy Investments, raised 102 million pounds, and will control the company with 53% after the purchase.

Metro shares are 97% lower than when they debuted on the London stock exchange in 2016.