EFG Hellas Funding Limited: issuance of Lower Tier 1 capital in the form of preferred shares | Eurobank
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EFG Hellas Funding Limited: issuance of Lower Tier 1 capital in the form of preferred shares

EFG Hellas Funding Limited, a Jersey-based subsidiary of EFG Eurobank, has successfully completed today the issuance of Lower Tier 1 capital in the form of preferred shares.
EFG Hellas Funding Limited, a Jersey-based subsidiary of EFG Eurobank, has successfully completed today the issuance of Lower Tier 1 capital in the form of preferred shares. The issue amount was EUR 200 million, with the issue date set for 18.03.05. The transaction is perpetual in maturity, gives the issuer the right to call the issue back at par on 18.03.10 and annually thereafter, and is fully guaranteed by EFG Eurobank. The issue pays fixed annual dividends of 6.75% for the first two (2) years, and annual dividends that are determined based on the 10-year EUR swap rate plus a spread of 0.125%, capped at 8%, thereafter.
The issue was offered to Greek and European investors, and will be listed in the Luxembourg and Frankfurt Stock Exchanges.
The lead managers of the issue were Deutsche Bank, UBS Limited and EFG Eurobank, with Emporiki Bank acting as a co-lead manager.
This transaction enhances the regulatory capital of EFG Eurobank and further improves its capital adequacy ratios.