Eurobank raises €600 million through seven-year green bond
Eurobank’s green senior preferred bond drew about €1.4 billion in orders from more than 65 investor accounts.
Athens, Greece. Eurobank raised €600 million through a seven-year green senior preferred bond, with international investor demand pushing the final order book to about €1.4 billion, the bank confirmed on Wednesday.
The transaction was priced at a credit spread of 98 basis points, below the initial indication of 125 basis points.
Bond terms
The fixed-rate green senior preferred notes carry an annual coupon of 4.125 per cent and mature on September 8, 2033.
Eurobank may call the notes at par on September 8, 2032. Settlement is scheduled for September 8, 2026.
The securities will be listed on the Luxembourg Stock Exchange’s Euro MTF market.
Investor demand
The final order book represented an oversubscription of about 2.5 times, according to Eurobank, with more than 65 investor accounts participating in the book-building process.
Foreign investors accounted for approximately 90 per cent of the order book. Investors from Belgium, the Netherlands and Luxembourg collectively represented 27 per cent of demand, followed by the United Kingdom with 23 per cent and France with 20 per cent.
Germany, Austria and Switzerland collectively accounted for a further 11 per cent of demand.
Allocation
Asset managers were the largest investor group, accounting for 54 per cent of the allocation.
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