financial statements 2013

28. Share premium

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The changes in the balances under this heading in the accompanying consolidated balance sheets are due to the common stock increases carried out in 2013 and 2012 (see Note 27), as set out below:

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Millions of Euros
Capital Increase Share premium
As of December 31, 2011 18,970
Convertible bonds conversion - April 2012 878
Convertible bonds conversion - July 2012 1,120
As of December 31, 2012 20,968
Convertible bonds conversion - July 2013 1,143
As of December 31, 2013 22,111

The amended Spanish Corporation Act expressly permits the use of the share premium balance to increase capital and establishes no specific restrictions as to its use.