Bernitsas Law acted as Greek law counsel to Piraeus Bank in connection with the issuance and offering of its new €500m Senior Preferred Notes due April 2030 to international and domestic institutional investors, as well as their listing on the Euro MTF Market of the Luxembourg Stock Exchange.
The transaction was successfully priced on 10 April and settled on 16 April 2024. The transaction attracted significant interest from more than 110 institutional investors, with 58% placed among asset managers, insurance companies and pension funds, 18% to banks and private banks, 17% to hedge funds and 7% to other investors. The total order book of the transaction exceeded €1.3bn, being more than 2.7 times oversubscribed, clearly indicating investors’ confidence in Piraeus Bank.
Partners Nikos Papachristopoulos and Maria Nefeli Bernitsas advised on this transaction.
