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Successful Bond Issue by Hellenic Bank

The Hellenic Bank Ltd. announced that it has successfully completed the issue of Floating Rate Subordinated Notes equalling 100 million euro with fluctuating interest maturing on the 27 July 2011 as Tier 2 Capital listed on the Luxembourg stock exchange with lead managers the Deutsche Bank. Co-lead managers are Alpha Bank as well as NBG International, Pireaus and The Royal Bank of Scotland.

The Bank has the option to call the bond on or after the 27 July 2006. The interest has been determined at 1,30% (130 bps) above Euribor and steps up by 1.20% if the Notes are not called on 27 July 2006.

The Bank notes that there was great interest for the bond and the issue was distributed to institutional investors internationally and especially in Greece.

Proceeds from the issue which is a Tier 2 Capital will substantially strengthen the already high ratios of the Hellenic Bank's capital adequacy and will be utilised for further expansion of the Group's operations.
Monday, 30 July, 2001 - 09:41