Eurobank completes €500 mln bond issue

Eurobank completes €500 mln bond issue

Eurobank announced on Wednesday it had successfully completed its second consecutive 500-million-euro senior preferred issue in 2021, attracting the interest of a large number of institutional investors.

The issue was oversubscribed more than 1.5 times, which enabled Eurobank to lower the interest rate by 12.5 basis points, from the 2.50% initially offered to the 2.375% re-offer yield, evidencing investors’ confidence in Eurobank and the Greek economy.

The bond matures in six-and-a-half years, on March 14, 2028, and is callable at par in five-and-a-half years, on March 14, 2027, offering a coupon of 2.25% per annum.

The settlement date is next Tuesday and the notes will be listed on the Luxembourg Stock Exchange’s Euro MTF market.

The issue featured participation by both foreign and domestic investors, the lender said.

The proceeds from the issue will be used for Eurobank’s general funding purposes, including the financing of green projects.

This transaction is another step toward the implementation of Eurobank’s medium-term strategy to meet its Minimum Required Eligible Liabilities (MREL) requirements scheduled for 2025, and reflects the bank’s ongoing commitment to the protection of depositors, according to Eurobank.


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