OR Eurobank Ergasias Services and Holdings SA (Eurobank Holdings) announces that its subsidiary Bank Eurobank SA (the “Bank” or “Eurobank”) has successfully completed the pricing bond senior preferred, amounting to 600 million euro.
The bond has a maturity date of March 12, 2030, callable on March 12, 2029 (5.25NC4.25), and an annual coupon of 3.25%. The settlement date is 12 December 2024 and the bonds will be traded on the Luxembourg Stock Exchange (on the euro MTF market).
The transaction was received with great interest by investors, which resulted in total demand rising to 3.4 billion. euros, with almost 6 times coverage, enabling Eurobank to raise 600 million. euros and reduce the credit margin of the bond to 125 m.b. from 155 sq.m. which was the original indicative offer.
The offer book process attracted strong demand from foreign investors with significant geographical dispersion as the Bank collected orders from 165 different investors.
In the breakdown, foreign investors account for around 93% of the pre-subscribed amount in the offer book with significant participation from the UK and Ireland (40%), France (14%), Germany (13%) and Italy (9%). Regarding investors, 68% was allocated to Fund Managers, 19% to Private Banks, 6% to Hedge Funds and 5% to Insurance and Pension Funds.
The funds raised through the issue will contribute to the long-term coverage of the Eurobank Group’s obligations regarding the Minimum Requirements in Eligible Liabilities and Own Funds (MREL) and will be allocated for Eurobank’s business purposes.
The coordinators of the issue were Citigroup, Deutsche Bank, IMI – Intesa Sanpaolo, Jefferies, Santander and Société Générale.
For more information you can contact the Investor Relations department [email protected].