Piraeus tightens 50bp to land €400m T2 at 9.75%

GLOBALCAPITAL INTERNATIONAL LIMITED, a company

incorporated in England and Wales (company number 15236213),

having its registered office at 4 Bouverie Street, London, UK, EC4Y 8AX

Accessibility | Terms of Use | Privacy Policy | Modern Slavery Statement | Event Participant Terms & Conditions

Cookies Settings
FIG
Bank Capital

Piraeus tightens 50bp to land €400m T2 at 9.75%

David Freitas
June 19, 2019 02:15 PM
Piraeus2_PA-230x150
October 4, 2018 - Athens, Greece - Piraeus bank branch in Athens. Greek banking shares are down sharply amid investor fears over the lenders' needs to reduce their large stock of bad loans resulting from the financial crisis. The index of bank stocks was down 10 percent in Athens on Wednesday amid reports that some of the bigger banks plan to more aggressively write off bad loans. (Credit Image: © Aristidis VafeiadakisZUMA Wire) | Aristidis Vafeiadakis/Zuma Press/PA Images

Piraeus Bank found enough appetite in the market on Wednesday to launch the first tier two bond out of Greece since the crisis. It raised €400m of capital at a coupon of 9.75% — 50bp tighter than initial price thoughts.

Unlock this article.

The content you are trying to view is exclusive to our subscribers.

To unlock this article:

Request a Free Trial or Login

Topics

Bank CapitalGreeceEuropeEMEAFIG
DF
David Freitas
Gift this article