Eurobank raises 500 million euros on Tues. from senior preferred bonds

Eurobank raised 500 million euros on Tuesday through the issue of senior preferred, part of the Greek systemic bank’s intent to raise its total capital adequacy ratio, the such bond issuance by a Greece-based bank in 2022.

The issue comes amid a turbulent period in money markets, amid rising interest rates in the Eurozone, especially after the Russian invasion of Ukraine.

The coupon for new Eurobank titles topped out at 4,375 percent, lower than the guidance (4,50 percent). The previous two such issues saw yields reach 2 and 2.25 percent, respectively, in May and September 2021.