Global law firm Norton Rose Fulbright has advised Eurobank in relation to its €500m covered bond issue, the bank’s first publicly listed covered bond since before the global financial crisis.
The bond has a Conditional Pass Through structure and has fixed interest rate, with a 3-year tenor and 2.75% annual coupon. The covered bond was priced at 99.349%, leading to a final 2.98% yield.
The transaction received strong interest from international and domestic investors, attracting institutional investors from 20 countries. The Order Book was more than two times oversubscribed, with the international institutional investors accounting for 85% of the total participation.
David Shearer, partner, Norton Rose Fulbright, comments:
“We are delighted to have advised Eurobank on this significant transaction. The deal performed very strongly in the market and shows a lot of confidence in both the issuer and Greece.”
The Norton Rose Fulbright team was led by David Shearer and included Mirella Hart.
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Notes for editors:
Norton Rose Fulbright
Norton Rose Fulbright is a global law firm providing the world’s preeminent corporations and financial institutions with a full business law service. The firm has more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia.
Recognized for its industry focus, Norton Rose Fulbright is strong across all the key industry sectors: financial institutions; energy; infrastructure, mining and commodities; transport; technology and innovation; and life sciences and healthcare. Through its global risk advisory group, the firm leverages its industry experience with its knowledge of legal, regulatory, compliance and governance issues to provide clients with practical solutions to the legal and regulatory risks facing their businesses.
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Norton Rose Fulbright Verein, a Swiss verein, helps coordinate the activities of Norton Rose Fulbright members but does not itself provide legal services to clients. Norton Rose Fulbright has offices in more than 50 cities worldwide, including London, Houston, New York, Toronto, Mexico City, Hong Kong, Sydney and Johannesburg. For more information, see nortonrosefulbright.com/legal-notices.