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The first international bond issue

Eurobank EFG has successfully today placed €500 million, without the guarantee of the Greek Government, with international and domestic institutional investors. The issue was very successful, with more than 80 local and foreign investors showing interest, which is confirmed by the oversubscription by almost 1.8 times.
Eurobank EFG is the first Greek bank, following the recent international financial crisis during which the international capital markets have been virtually closed to Greek banks and the majority of European banks, to access the international debt capital markets.  It is expected that this transaction will open up the markets for other Greek banks, which is critical for the smooth functioning of the Greek banking system.
EFG Hellas PLC, a subsidiary of Eurobank EFG, is the issuer of the two-year fixed rate note with an annual coupon of 4.25%, guaranteed by Eurobank EFG and listed on the Luxembourg Stock Exchange.  The note, importantly, is issued without a Greek government guarantee.
The Notes are issued under the EMTN Programme with the aim of raising medium term funds for the Bank’s general funding purposes. This is the first issue from a Greek bank in the international debt markets since the beginning of the crisis in August 2007.
The lead managers for the transaction are BNP Paribas, EFG Eurobank Ergasias, ING, JP Morgan and Unicredit Group ( HVB).
The long-term debt ratings of Eurobank EFG are A1 from Moody’s, BBB+ from Standard and Poor’s and A- from Fitch.