Bids for Piraeus Bank's senior preferred bond exceeded €1 billion, with the initial interest rate set at 5.25%.

The security has a six-year maturity, is callable at five years (6NC5) and is expected to be rated Ba2 by Moody's and BB- by Fitch.

As a reminder, the mandate for the issue was given to BofA Securities, Goldman Sachs Bank Europe SE, HSBC, J.P. Morgan and UBS Investment Bank.