Bernitsas has advised Eurobank Ergasias Services and Holdings on a liability management exercise totaling EUR 588.55 million.
According to Bernitsas, the transaction involved two components: an invitation to holders of EUR 200 million fixed-rate reset callable tier 2 dated subordinated notes due June 14, 2033 – issued by Eurobank Holdings’ subsidiary, Hellenic Bank Public Company Limited – to exchange their notes for new Euro-denominated tier 2 dated subordinated notes; and the issuance of EUR 400 million fixed-rate reset subordinated instruments due 2035 offered to international and domestic institutional investors via a bookbuilding process and subsequently listed on the Euro MTF market of the Luxembourg Stock Exchange.
In 2024, Bernitsas advised Eurobank Holdings on EUR 300 million subordinated tier II instruments issuance (as reported by CEE Legal Matters on February 8, 2024).
The Bernitsas team included Partners Nikos Papachristopoulos and Maria Nefeli Bernitsa and Counsel Alexia Kefalogianni.
