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Greece's Piraeus Bank Prices EUR500 Million Senior Preferred Bond Issuance

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Piraeus Bank (TPEIR.AT) priced its issuance of a new 500 million-euro senior preferred bond, according to a Friday release.

The six-year bond, which will be listed on the Luxembourg Stock Exchange's Euro MTF market, has an annual fixed coupon of 4%, with an issuer call option after five years. Settlement is set for Sept. 3.

The Greek bank will use net proceeds for general corporate and financing needs, as well as to ensure ongoing compliance with the Minimum Requirement for Own Funds and Eligible Liabilities, or MREL.

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