Eurobank drained 300 million euros from the markets with the auction of a Tier 2 10-year bond on Thursday. Book-building closed with a 6.25% coupon and a yield of 6.375%.
The auction was oversubscribed six-fold, with the offered amount nearly reaching 1.8 billion euros.
The offer attracted heightened interest by foreign funds, despite the fact that it was issued without a previous “road show”.
Eurobank, one of four systemic banks in Greece, reportedly opted for investors’ funding to capitalize on the positive climate now exuded by the Greek economy and the banking sector in the east Mediterranean country.
The bond will mature in 10.25 years with a recall option at 5.25 years.
BNP Paribas, BofA, JP Morgan, Morgan Stanley and UBS acted as joint bookrunners of the issue.
Source: tovima.com
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