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Hybrid Issue

Eurobank EFG has successfully concluded today the issue of €300 million, non-innovative hybrid securities (Lower Tier 1 Capital) through its Jersey-based subsidiary EFG Hellas Funding Limited. This is in accordance with the decision of the Shareholders General Meeting on 30.6.2009 which allows Eurobank EFG to issue in tranches up to €500 million of such securities.
The securities will have an issue date of 29.7.2009 and they are perpetual and callable by the issuer after 29.10.2014, and, subject to certain conditions, exchangeable at the option of the bondholder and the issuer after 29.10.2014 into Eurobank EFG common shares at a 12% discount to the share market price during the period preceding the exchange and are guaranteed by Eurobank EFG. The issue pays a fixed annual coupon of 8.25%
The securities were privately placed and will be listed in the London Stock Exchange.
HSBC BANK PLC acted as structuring adviser. The lead managers were Eurobank EFG and HSBC BANK PLC.
This issue will enhance Tier 1 capital and further improves Eurobank’s strong total capital adequacy ratio which in the first quarter of 2009 already stood at 11.3%.