Hunt for yield hits new high as Piraeus lands second tier two

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By David Freitas
12 Feb 2020

Piraeus Bank took advantage of the recent hunt for yield in the euro market this week, pricing a new tier two with a yield of 5.5% on Wednesday. The €500m bond was eight times subscribed, which is testament to the prevailing hunt for yield in the bond market.

Piraeus said on Monday that it was looking to sell a 10 year non-call five tier two bond — its second deal in the asset class since the financial crisis.

The Greek bank picked Barclays, BNP Paribas, Credit Suisse, Goldman Sachs, Nomura and ...

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