Eurobank successfully completed the issuance of €650 million in senior preferred notes.

The bond matures on April 30, 2031, and is callable at par on April 30, 2030 (7NC6), offering a coupon of 4.875% per annum. Settlement will take place on April 30, 2024, and the notes will be listed on the Luxembourg Stock Exchange's Euro MTF market. Strong participation and a final demand of over 1.4 billion euros, or a 2 times oversubscription, were indicators of investor confidence in Eurobank's credit standing.

This enabled Eurobank to increase the initial issue amount from 500 million euros to 650 million euros and reduce the interest rate offered on the instruments from the initial 5.25% indication level to the final 5% (re-offer) yield. The issue attracted strong and geographically diverse demand from international investors, with the bank receiving a final order at re-offer from 101 different investors. Upon new issue allocation, foreign investors' participation accounted for approximately 80% of the issued amount, with key participation from the United Kingdom and Ireland (25%), Italy (14%), France (12%), and Germany (6%).

In terms of investor type, 54% were fund managers, 29% were banks and private banks, 8% were hedge funds, and 7% were insurance and pension funds. The proceeds from the issue will support Eurobank Group's strategy to ensure ongoing compliance with its Minimum Required Eligible Liabilities (MREL) requirement and will be used for Eurobank's general funding purposes.