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.