Piraeus Bank successfully completes €500 million bond issue in Greece

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Piraeus Bank successfully completes €500 million bond issue in GreeceThe bond has a maturity of 10 years, and an embedded issuer call option after 5 years and will be listed on the Luxembourg Stock Exchange

Greece's Piraeus Bank on Thursday officially announced the successful issue of a 500 million euros Tier 2 bond with institutional investors at a coupon of 5.50 pct, ANA reports.

The issuance follows a two-day marketing period and received significant investor interest with a final order book in excess of 4 billion euros from more than 350 investors. The bond issue marks Piraeus Bank’s second issuance of a Tier 2 bond in the international debt capital markets, after the bank’s inaugural placement in June 2019. The issuance is in line with Piraeus Bank’s strategy, as communicated to the market on 3 February 2020 and will enhance the Bank’s total capital ratio by approximately 110bps.

RELATED TOPICS: GreeceGreek tourism newsTourism in GreeceGreek islandsHotels in GreeceTravel to GreeceGreek destinationsGreek travel marketGreek tourism statisticsGreek tourism report

Photo Source: Wikimedia Commons License: CC-BY-SA Copyright: Erud

 

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