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Greece’s Eurobank raises €500mln with covered bond issue

Greek lender Eurobank issued its €500 mln covered bond attracting more than € 1bn in bids. In a statement the Eurobank underlined the “successful issuance of covered bonds amounting to €500m” and said:

Eurobank successfully concluded yesterday a €500m. new covered bond transaction (bond or
covered bond). A series of successful meetings with institutional investors took place in
selected financial centers (4 day roadshow in London, Milan, Athens, Frankfurt and Munich).
The bond has a Conditional Pass Through structure, is EUR denominated and has fixed
interest rate, with a 3-year tenor and 2.75% annual coupon. The covered bond was priced at
99.349%, leading to a final 2.98% yield.
The transaction received strong interest from international and domestic investors, attracting
institutional investors from 20 countries. The Order Book was more than 2 times over-
subscribed, with the international institutional investors accounting for 85% of the total
participation.
Barclays, Goldman Sachs, UBS, JP Morgan, NatWest Markets and Commerzbank acted as
Joint Lead Managers for the transaction.
This transaction marks Eurobank’s return to the international capital markets, its first since
2014, and will contribute to further reducing the ELA liquidity support and will further

diversify its funding sources. eurobank statement

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