Piraeus gears up for first Greek sub-debt sale in over a decade

摘要

piraeus bank will attempt to sell the first bank capital trade from a Greek bank in over a decade this week as it looks to turn the page on its chequered bond market past and leverage shareholder support to bolster its balance sheet. The Greek lender has mandated Goldman Sachs and UBS for the 10-year non-call five Tier 2, expected to be rated Caa3/ CCC (Moody's/S&P). Investor meetings began last Thursday and will wrap up on Tuesday. The bank hopes to raise between €200m and €300m from the trade to improve its overall capital levels.