Eurobank issues €700 million in senior preferred debt

Eurobank S.A. (hereinafter “Eurobank”) announces that it has successfully completed the pricing of €700 million Fixed Rate Senior Preferred Notes due 2032 (the “Notes”).

The Notes mature on May 25, 2032, are callable at par on May 25, 2031, offering a coupon of 3.875% per annum. Settlement is scheduled for May 25, 2026, while the Notes will be listed on the Luxembourg Stock Exchange’s Euro MTF market.

The level of interest in the transaction resulted in a final demand of approximately €2.7bn, i.e. an oversubscription of about 3.9 times, thus enabling Eurobank to raise €700 million at a reduced credit spread of 97 bps compared to the initial 125 bps indication level. The book building process attracted strong and geographically diverse demand from international investors, with over 90 accounts participating.

Upon allocation of the new issue, foreign investors accounted for approximately 91% of the amount of the book, with participation primarily from the United Kingdom and Ireland (32%), Germany, Austria and Switzerland combined (21%), Belgium, Netherlands and Luxembourg combined (13%) and France (12%). In terms of investor type, 58% were Asset Managers, 18% were Banks and Private Banks, 13% were Insurance and Pension Funds and 9% were Hedge Funds.

The proceeds from the issue will support Eurobank Group’s strategy to ensure continued compliance with the Minimum Requirements for Own Funds and Eligible Liabilities (MREL) and will be used for Eurobank’s general business purposes.

BNP Paribas, Deutsche Bank, Goldman Sachs, IMI – Intesa Sanpaolo, Jefferies and Nomura acted as Joint Bookrunners.