Piraeus Bank is expected to issue a Tier 2 bond maturing in 11 years and callable in six years, according to Reuters.

The bank gave a related mandate to Barclays, Deutsche Bank, Goldman Sachs, Morgan Stanley, Nomura, and UBS for a series of conference calls with investors starting today. 

The issue is expected to follow in the near future, depending on market conditions, and the securities are expected to receive a Ba3 rating from Moody's. 

Meanwhile, Piraeus has given mandates to Barclays, Deutsche Bank, Goldman Sachs, Morgan Stanley, Nomura, and UBS for the early cash repurchase of €500 million of bonds from the Tier 2 issue maturing on 19 February 2030, with a coupon of 5.5%.