ECONOMY

Eurobank completes successful covered bond issue

Eurobank completes successful covered bond issue

The issue of Eurobank’s covered bonds was completed successfully on Wednesday, marking the Greek lender’s return to international markets for the first time since 2014.

The bond’s yield ended up below 3 percent.

The bank drew 500 million euros through the issue, more than twice oversubscribed, with foreign institutionals from about 20 countries accounting for 85 percent of demand.

The bonds have a three-year maturity period and a fixed interest rate.

Eurobank said the transaction will contribute to further reducing the bank’s dependence on emergency liquidity assistance from the Bank of Greece and diversify its funding sources.

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