Oversubscribed by 6 times
with investor interest exceeding 3 billion Euros
issue of 3 year €500 million senior unsecured bond
Piraeus Bank today, Tuesday 18th March 2014, successfully priced and placed in the international debt capital markets a € 500 million three year senior unsecured benchmark note that has an annual fixed rate coupon of 5.00%.
The bond offering was heavily oversubscribed, as investor demand surpassed the € 3 bn level in just a few hours of book building. Over 240 institutional investors from 25 countries participated in the transaction, confirming the significant appeal of the Piraeus Bank credit story to the international investment community.
Through this bond issue, Piraeus regains access to the international debt capital markets after a period of almost 5 years, diversifies its funding sources and validates the prospects and trust to both Piraeus Bank and the Greek economy.
Prior to the transaction Piraeus held a series of meetings, in a roadshow through selected European cities. Meetings were held with the most prominent institutional investors, and participation interest confirms the elevated outlook of Piraeus Bank and the Greek banking system.
The bond will be issued through Piraeus Group Finance Plc, under the Euro Medium Term Note (EMTN) programme. Settlement date will be the 27th March 2014 and the bond will be listed in the Luxemburg Stock Exchange.
BNP Paribas, Credit Suisse, Deutsche Bank, Goldman Sachs and HSBC acted as joint book runners of the transaction.
Athens, March 18th 2014