Bernitsas acted as Greek law counsel to Eurobank in connection with the issuance and offering to institutional investors of €400m Fixed Rate Reset Subordinated Tier 2 debt instruments due 2037 (Notes). The Notes were listed on the Euro MTF Market of the Luxembourg Stock Exchange.
The transaction received a tremendous level of interest from the onset which resulted in a final demand of €3.8bn, an oversubscription of 9.5 times. The book building process attracted strong and geographically diverse demand from international investors, with Eurobank receiving firm final orders at re-offer from 117 different investors.
The proceeds from the issue of the Notes will support Eurobank Group’s strategy to ensure ongoing compliance with its MREL requirements and will be used for Eurobank’s general funding purposes.
Partner Nikos Papachristopoulos and Associate Adonis Sfyris advised on this transaction.