Piraeus Bank to issue green bond

Piraeus Bank to issue green bond

Piraeus Bank will open the book for its first ever “green” bond on Tuesday or Wednesday. The 500-million-euro issue will concern a senior preferred bond and mature after six years.

The bank has already asked BNP Paribas, BofA, Goldman Sachs, Morgan Stanley and UBS to act as joint bookrunners. The bond is expected to secure a Caa1/B rating from Moody’s and S&P.

Half of the takings will go toward the financing of green loans, and the other 50% will be used for the refinancing of existing loans.

Piraeus has a green loan portfolio of €1.5 billion. As Chrysanthi Berbati, Piraeus’ head of Strategic Planning, IR & ESG, told Kathimerini’s 1st Athens ESG & Climate Crisis Summit last week, “the green bonds market is an efficient way of drawing the necessary funds for the transition to an economy of low pollution, as it encourages the funding of sustainable investments and investing in assets and projects that are friendly to the environment.”

Besides the €1.4 billion share capital increase at end-April, the Piraeus group has also raised another €900 million through two Tier II issues.

Subscribe to our Newsletters

Enter your information below to receive our weekly newsletters with the latest insights, opinion pieces and current events straight to your inbox.

By signing up you are agreeing to our Terms of Service and Privacy Policy.