Bernitsas Law acted as Greek law counsel to Eurobank Ergasias Services and Holdings SA (Eurobank Holdings) in connection with the issuance and offering to international and domestic institutional investors through a bookbuilding process of €300m Subordinated Tier II instruments due 25 April 2034 (Instruments), and the listing of the Instruments on the Euro MTF market of the Luxembourg Stock Exchange.
Investor confidence in Eurobank Holding’s credit standing has generated robust investor demand of €1.8bn for the issue, which enabled Eurobank Holdings to lower the Instrument’s pricing from 6.875% yield initially offered to the final 6.375% re-offer yield. The issue attracted orders from international investors and was over-subscribed by almost 6 times. International investors’ participation accounted for 80% of the issued amount, with key participation from the United Kingdom, France and Italy.
Partner Nikos Papachristopoulos and Counsel Maria Nefeli Bernitsa advised Eurobank Holdings on the transaction, which successfully completed on 25 January 2024.
