Eurobank issues €500 million in Senior Preferred debt

“Eurobank Ergasias Services and Holdings S.A.” (Eurobank Holdings) announces that its subsidiary “Eurobank S.A.” (Bank or Eurobank), completed successfully the second consecutive €500 million senior preferred issue in 2021, attracting the interest of a large number of institutional investors. The issue was over-subscribed by more than 1.5 times, which enabled Eurobank to lower the interest rate by 12.5 basis points (bps), from the 2.50% initially offered to the 2.375% re-offer yield, evidencing the investor’s confidence on Eurobank and the Greek economy.

The bond matures in six and a half years on 14th March 2028 and is callable at par in five and a half years on 14th March 2027, offering a coupon of 2.25% per-annum and is resettable on 14th March 2027. The settlement will occur on 14th September 2021 and the Notes will be listed on the Luxembourg Stock Exchange’s Euro MTF market.

The issue featured participation from both foreign and domestic investors. 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 towards 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. The new issue also contributes to the further development of the Issuer’s yield curve in the secondary market.

Barclays, Citi, Commerzbank, Credit Suisse, J.P.Morgan, acted as Joint Lead Managers.