Hellenic Bank Public Company Limited issues Senior Preferred Notes of €100 mn

11 July 2022

Hellenic Bank Public Company Limited (the “Bank”) announces that it has successfully launched and priced the issuance of €100 mn Senior Preferred Notes (the “Notes”), under its €1.500.000.000 Euro Medium Term Note Programme (EMTN).

The Notes are priced at par with a fixed coupon of 9% per annum, payable annually in arrear. The fixed coupon will reset on 15 July 2024. The maturity date of the Notes is 15 July 2025 and the Notes are callable at par on 15 July 2024 (3NC2), subject to meeting certain regulatory conditions as specified in the terms and conditions of the Notes. It is expected that settlement will occur on 15 July 2022. The Notes will be admitted to trading on the Euro MTF Market of the Luxembourg Stock Exchange and listed on the Official List of the Luxembourg Stock Exchange.

The transaction is the Bank’s inaugural issuance of notes expected to qualify towards the Bank’s minimum requirement for own funds and eligible liabilities (“MREL”) and is in line with the Bank’s funding strategy in relation to MREL requirements.

J.P. Morgan acted as Sole Lead Manager. The Bank’s legal advisers for the issue were Clifford Chance LLP as to English law and Georgiades & Pelides LLC as to Cyprus law. The Sole Lead Manager’s legal advisers were Allen & Overy LLP as to English law and Keane Vgenopoulou & Associates LLC as to Cyprus law.
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