Piraeus Bank’s €500 million Senior Green Bond issuance has concluded, attracting demand of €3 billion. The interest rate has been established at 3.15%.
The order book was managed by BNPP, Goldman Sachs, HSBC, JPMorgan, Societe Generale, and UBS. This bond has a maturity period of 3.5 years with a call option available at 2.5 years, scheduled for December 2027.
Moody’s has rated the issuance as Baa2.
Piraeus Bank is initiating a series of issuances that both systemic and non-systemic banks are anticipated to pursue under the MREL framework.
The plan for this year includes bond issuances totaling approximately €2.5 billion, aimed at replacing maturing bonds or refinancing similar securities.
Greek banks are accelerating these actions due to a significant decrease in interest rates, as well as a fluid market environment that has made investors highly cautious.
The European Banking Authority projects the following bond issuances across Europe for 2025:
- €262 billion in senior preferred bonds
- €107 billion in senior non-preferred bonds
- €18 billion in AT1 bonds
- €37 billion in Tier 2 bonds
Ask me anything
Explore related questions
