Bernitsas has advised Eurobank Ergasias Services and Holdings on its EUR 300 million issuance of Subordinated Tier II instruments due April 25, 2034.
The instruments are listed on the Euro MTF market of the Luxembourg Stock Exchange.
According to the firm, "investor confidence in Eurobank Holding’s credit standing has generated robust investor demand of EUR 1.8 billion for the issue, which enabled Eurobank Holdings to lower the instrument’s pricing from a 6.875% yield initially offered to the final 6.375% re-offer yield."
The issue attracted orders from international investors and was over-subscribed almost six times, Bernitsas reported, with international investors’ participation accounting for 80% of the issued amount, and key participation from the UK, France, and Italy.
The Bernitsas team included Partner Nikos Papachristopoulos and Counsel Maria Nefeli Bernitsa.
Bernitsas did not respond to our inquiry on the matter.