Piraeus Bank issues €500 million bond with €2.5 billion in demand

Piraeus Bank Senior Preferred Bond institutional investors bond issuance Greek banking

Piraeus Bank has successfully priced a new €500 million Senior Preferred Bond, attracting significant interest from over 130 institutional investors. The total order book exceeded €2.5 billion, representing an oversubscription of more than five times the target amount.

The 6-year bond features a fixed annual coupon of 4.00% and includes a call option after five years. It is expected to receive a 'Baa2' investment-grade rating from Moody’s Ratings. The proceeds from the issuance are intended for general corporate and financial purposes, as well as to ensure compliance with MREL requirements.

International demand was strong, with 85% of the issuance allocated to global institutional investors. Key participating regions included France (24%), the DACH region (17%), and the Benelux countries (13%). The bond was priced with a credit spread of 90 basis points above the benchmark, marking the lowest spread ever achieved by Piraeus Bank for a Senior Preferred Bond and a record low for similar issuances in the Greek market.

Entities

Luxembourg Stock Exchange · Moody’s Ratings · Piraeus Bank

Claims

What the coverage asserts, and how many sources carry each claim.

[● 3 SOURCES] The bond is expected to receive a 'Baa2' investment grade rating from Moody’s Ratings. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] Piraeus Bank completed the pricing of a new €500 million Senior Preferred Bond. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] The bond was priced with a credit spread of 90 basis points above the benchmark rate. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] The bond has a 6-year duration with a call option at 5 years. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] The issuance was oversubscribed by more than 5 times, with orders exceeding €2.5 billion. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] More than 130 institutional investors participated in the offering. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] 85% of the issuance was allocated to international institutional investors. marketnews.gr · www.insider.gr · www.capital.gr
[● 3 SOURCES] The bond carries a fixed annual coupon of 4.00%. marketnews.gr · www.insider.gr · www.capital.gr

Sources

Τράπεζα Πειραιώς: Ισχυρή ζήτηση για το ομόλογο των €500 εκατ. – Στα €2,5 δισ. οι προσφορές [marketnews.gr]

15 days ago

Πειραιώς: Στις αγορές με 6ετές ομόλογο €500 εκατ. – Πάνω από €2,5 δισ. οι προσφορές [www.reporter.gr]

15 days ago

Tράπεζα Πειραιώς: Εξέδωσε ομόλογο 500 εκατ. ευρώ με κουπόνι 4% [www.epixeiro.gr]

14 days ago

Τράπεζα Πειραιώς: Στις αγορές με 6ετές ομόλογο, ξεπέρασαν τα 2,5 δισ. ευρώ οι προσφορές [www.insider.gr]

15 days ago

Τρ. Πειραιώς: Άντλησε €500 εκατ. με ρεκόρ χαμηλό spread 90 μ. β. - Ξεπέρασαν τα €2,5 δισ. οι προσφορές [www.capital.gr]

15 days ago