Piraeus preps Greek bank return

摘要

Piraeus bank may sell the first senior unsecured bond from the country's banking sector since 2009 this week, as the frantic scramble to buy debt tempts investors back to one of the eurozone's most troubled stories. A successful deal would make Piraeus, at only Caa1/CCC/ B-, the weakest-rated bank credit to raise senior debt. Such a deal would be a watershed for the country's financial institutions, signalling they have regained access to the wholesale funding market after an absence so long that they no longer have any outstanding bonds.