EFG Hellas Funding Limited Lower Tier | Eurobank
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EFG Hellas Funding Limited Lower Tier

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 400 million, with the issue date set for 2.11.05. The transaction is perpetual in maturity, gives the issuer the right to call the issue back at par on 2.11.15 , and is fully guaranteed by EFG Eurobank. The issue pays fixed annual dividends of 4.565% for the first 10 years, and quarterly dividends that are determined based on the 3mEURIBOR rate plus a spread of 222 basis points (2.22%), thereafter.
The issue was offered to Greek and European investors, and will be listed in the London Stock Exchange.
The lead managers of the issue were CSFB, Deutsche Bank, Merrill Lynch και UBS with Postal Savings Bank, Emporiki Bank and Natexis BP acting as co-lead managers.

This transaction enhances the regulatory capital of EFG Eurobank and further improves its capital adequacy ratios.