Eurobank issues 700 million euro senior preferred bond

Eurobank S.A. has successfully priced a 700 million euro senior preferred bond issue maturing on May 25, 2032. The notes feature an annual coupon of 3.875 percent and include a call option at par on May 25, 2031, with settlement scheduled for May 25, 2026. The issuance will be listed on the Luxembourg Stock Exchange’s Euro MTF market. Investor demand reached approximately 2.7 billion euros, an oversubscription of 3.9 times, allowing the bank to tighten the credit spread to 97 basis points from the initial guidance of 125 basis points. More than 90 investor accounts participated in the bookbuilding process. Foreign investors accounted for 91 percent of the total orders, with significant demand from the United Kingdom, Ireland, Germany, Austria, Switzerland, Belgium, the Netherlands, and Luxembourg. The investor base consisted of 58 percent asset managers, 18 percent banks and private banks, 13 percent insurance and pension funds, and 9 percent hedge funds. Proceeds are intended to support the bank's MREL compliance and general corporate purposes. The issuance was coordinated by BNP Paribas, Deutsche Bank, Goldman Sachs, IMI–Intesa Sanpaolo, Jefferies, and Nomura.