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Bernitsas Advises Piraeus Financial Holdings on Redeeming EUR 400 Million in Tier 2 Notes and New EUR 500 Million Issuance

Bernitsas Advises Piraeus Financial Holdings on Redeeming EUR 400 Million in Tier 2 Notes and New EUR 500 Million Issuance

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Bernitsas has advised Piraeus Financial Holdings on a liability management exercise concerning EUR 400 million in Tier 2 notes due June 26, 2029, and new EUR 500 million issuance of Tier 2 notes.

According to Bernitsas, the liability management exercise “consisted of an invitation made to holders of its outstanding EUR 400 million Tier 2 notes due June 26, 2029, to tender their notes for purchase by PFH for cash.” Also, the “issuance and offering to international and domestic institutional investors through a bookbuilding process of EUR 500 million in tier 2 notes due April 17, 2024.” The notes were listed on the Euro MTF market of the Luxembourg Stock Exchange.

The Bernitsas team included Partner Nikos Papachristopoulos and Counsel Maria Nefeli Bernitsa.

Bernitsas did not respond to our inquiry on the matter.

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