Eurobank raises 300 million euros from subordinated Tier-2 bond

 Eurobank raises 300 million euros from subordinated Tier-2 bond
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ATHENS, Nov 30 (Reuters) - Eurobank Holdings said on Wednesday it completed a 300 million euro ($310.32 million) subordinated Tier-2 bond issue, its first such issue in international debt markets.

The bond, maturing on Dec.6, 2032, is callable at par on Dec. 6 2027 and pays a 10% annual coupon. The bond will be listed on the Luxembourg stock exchange's Euro MTF market. Settlement will take place on Dec. 6.

Eurobank said demand reached 825 million euros, meaning it was oversubscribed more than 2.7 times with foreign investors accounting for about 66%.

Proceeds will support Eurobank Holdings' strategy to ensure compliance with its total capital adequacy ratio requirements and will be used for general funding purposes.

Bank of America, Barclays, JPMorgan and Morgan Stanley, acted as joint lead managers. ($1 = 0.9667 euros) (Reporting by George Georgiopoulos; editing by David Evans)


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