Piraeus Bank looking for window of opportunity for debt issue

Greece’s Piraeus Bank is monitoring debt capital markets to spot a window of opportunity for a debt issue as part of its capital enhancement plan, its chief executive told Reuters on Wednesday.

“Piraeus Bank is executing a capital enhancement plan, as already communicated to the market since mid-2018,” Christos Megalou said.

The bank’s shares were down sharply on Wednesday, shedding 28 percent to 1.173 euros on what analysts said was negative speculation for the banking sector.

“The bank is in a continuous dialogue with the supervisory authorities and monitors debt capital markets to identify the window of opportunity for the non-dilutive capital instrument issuance included in the plan,” Megalou said. [Reuters]