Establishment of covered bond programme and issuance of €1.25 bn.
Piraeus Bank announces that with a view to further enhance its liquidity has issued €1.25 bn of covered bonds (under Law 3601/2007, article 91, and Bank of Greece Governor's Act 2598/2007), of a 3-year tenor with an extension period of 10-years and coupon rate of 1month Euribor plus a margin of 100bps. The transaction has been rated "A-" by Fitch and shall be listed in Luxembourg Stock Exchange.
The transaction has been issued under Piraeus Bank's €3bn covered bond programme. Barclays Capital acted as the arranger of the programme.