Eurobank is in the process of updating investors regarding the new senior bond amounting to €500 million that it will issue.

According to information, the bank is attempting to capitalize on the positive momentum in the Greek economy, especially in the banking sector, following the placement in the National Bank and Unicredit's entry into Alpha Bank.

At the same time, the upgrade of the Greek economy by rating agencies attracts more investment capital to the country, something expected to be reflected in the bank's bond as well.

The bond will have a duration of six years with a call option after five years, and the bank has already given relevant instructions to foreign institutions, specifically Barclays, Citigroup, DeutscheBank, Nomura, and Societe Generale. The issuance is expected to receive a Ba1 rating from Moody's, BB- from S&P, and BB from Fitch.

It is noteworthy that the bank has already met the MREL targets, aiming for 23.69 by January 2024, 25.5 by January 2025, and a final target of 27.8 by January 2026. As of today, it has already covered 60% of the 2026 target, being half a unit above the January 2024 goal.

In general, the domestic banking system seems to have turned a new page, a trend reflected in reports from international institutions. Yesterday, Deutsche Bank increased its price targets, emphasizing that the domestic banking system is poised for growth. Specifically for Eurobank, it set a new price target of €2.40, up from €2.05 previously. For other banks, the new price targets provided by the German institution are as follows:

• Alpha Bank: €2.15 (up from €2)
• Piraeus Bank: €3.95 (up from €3.30)
• National Bank of Greece: €8.30 (up from €7.10)