Piraeus Bank announced its intention to issue a new senior preferred bond of approximately €500 million.

Specifically, the Bank instructed BofA, Goldman Sachs, HSBC, JP Morgan and UBS, as underwriters of the issue, to organise presentations to investors today.

The bond will have a six-year callable maturity at five years (6NC5), with the issue taking place under the MREL coverage.

Moody's and Fitch are both anticipated to rate the security as Ba2 and BB-, respectively.