Eurobank’s €500 Million covered bond Offering

Global law firm Norton Rose Fulbright has advised Eurobank in relation to its €500m covered bond issue, the bank’s first publicly listed covered bond since before the global financial crisis.

The bond has a Conditional Pass Through structure and has fixed interest rate, with a 3-year tenor and 2.75% annual coupon. The covered bond was priced at 99.349%, leading to a final 2.98% yield.

The transaction received strong interest from international and domestic investors, attracting institutional investors from 20 countries. The Order Book was more than two times oversubscribed, with the international institutional investors accounting for 85% of the total participation.

Eurobank Ergasias S.A. provides retail, corporate and private banking, asset management, treasury, capital markets, and other services. The bank, led by Fokion C. Karavias, Charalambos Harris V. Kokologiannis,

Stavros E. Ioannou, Petia Dimitrova and Antonios C. Hassiotis, is based in Athens.

The Norton Rose Fulbright team was led by David Shearer (Picture) and included Mirella Hart.

Involved fees earner: David Shearer – Norton Rose Fulbright; Mirella Hart – Norton Rose Fulbright;

Law Firms: Norton Rose Fulbright;

Clients: Eurobank Ergasias S.A.;

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