Piraeus Bank today announced that it has successfully issued a Hybrid Tier 1 Euro-denominated Bond in the amount of € 200 million through its subsidiary Piraeus Group Capital Ltd.
The bond is perpetual and callable after ten years. It carries a coupon of 3-month Euribor + 125 basis points.
This issue, in conjunction with the 3-year Senior FRN and the 10-year Lower Tier 2 Subordinated FRN lengthens the maturity profile of the Bank's debt. At the same time, the Lower Tier 2 and Hybrid Tier 1 issues further broaden Piraeus Bank's capital base.
Joint Bookrunners on the transaction were ABN AMRO Bank N.V., Alpha Bank S.A. and Morgan Stanley & Co. International Limited.