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

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.

  • By David Freitas
  • 19 Jun 2019

The Greek bank decided to open books on Wednesday instead of Tuesday as initially planned, choosing Goldman Sachs and UBS to run the transaction.

They set out initial price thoughts of 10.25% area for the tier two security, which matures in 10 years and is callable ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access: subs@globalcapital.com

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: subs@globalcapital.com or find out more online here.

Bookrunners of Global Covered Bonds

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 UniCredit 11,200.49 94 5.96%
2 HSBC 10,542.32 56 5.61%
3 LBBW 8,901.56 52 4.74%
4 UBS 7,552.91 45 4.02%
5 Natixis 7,512.33 39 4.00%

Bookrunners of Global FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 71,997.72 361 6.15%
2 Bank of America Merrill Lynch 68,200.93 324 5.82%
3 Citi 62,952.74 357 5.37%
4 Morgan Stanley 54,307.94 287 4.64%
5 Goldman Sachs 48,879.00 415 4.17%

Bookrunners of Dollar Denominated FIG

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 JPMorgan 57,314.66 278 11.25%
2 Bank of America Merrill Lynch 55,383.87 271 10.87%
3 Citi 50,304.89 278 9.88%
4 Morgan Stanley 39,776.49 200 7.81%
5 Goldman Sachs 36,684.69 352 7.20%

Bookrunners of Euro Denominated Covered Bond Above €500m

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • Today
1 Natixis 6,100.80 24 6.43%
2 UniCredit 5,850.62 28 6.16%
3 LBBW 5,801.16 24 6.11%
4 Credit Agricole CIB 5,400.00 24 5.69%
5 HSBC 5,187.54 20 5.46%

Global FIG Revenue

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 02 May 2016
1 Morgan Stanley 365.83 497 7.62%
2 JPMorgan 332.66 618 6.92%
3 Bank of America Merrill Lynch 299.89 590 6.24%
4 Goldman Sachs 276.71 375 5.76%
5 Citi 264.54 592 5.51%

Bookrunners of European Subordinated FIG

Rank Lead Manager Amount €m No of issues Share %
  • Last updated
  • Today
1 Barclays 6,543.85 18 11.43%
2 UBS 4,747.22 25 8.29%
3 BNP Paribas 4,643.73 22 8.11%
4 Credit Suisse 3,901.61 15 6.82%
5 JPMorgan 3,758.36 29 6.57%