Piraeus Bank: Successful Completion of the Book Building Process for the Issue of €400 Million Dated Subordinated Notes

Piraeus Bank announces that it has successfully completed the book building process for the issuance of 10NC5 dated subordinated notes amounting to €400 million, through its wholly owned UK subsidiary, Piraeus Group Finance Plc and under the €25,000,000,000 Euro Medium Term Note Programme. The notes are placed in the international debt capital markets and will increase Piraeus Bank’s total capital ratio by ca. 90 basis points.

Demand for the transaction stood at approximately €850 million, with 135 investors placing orders as part of the book building process, which was run by Goldman Sachs International and UBS Investment Bank. Orders from more than 20 jurisdictions were received.

The coupon of the issue has been set at 9.75% and settlement is scheduled for June 26^th 2019.

Piraeus Bank’s Chief Executive Officer Christos Megalou commented: "We are very pleased with the results of our Tier 2 issuance and the overall market reception. This is the first public Tier 2 issuance by a Greek bank since 2008. The high level of investor demand is a clear vote of confidence from the market in the overall progress we have made at Piraeus Bank. The issuance fortifies further our balance sheet and acts as a key enabler for the implementation of our "Agenda 2023” strategic plan, which will benefit our investors, customers and employees.”

About Piraeus Bank

Piraeus Bank, founded in 1916, is the leading lender in Greece with a 29% loan market share, offering a full range of financial products and services to more than 5mn customers. Total assets of the Group amounted to €59bn, net loans to €38bn and customer deposits to €44bn on 31 March 2019. Piraeus Bank employees 12 thousand people in Greece and operates a nationwide network of 548 units, ranking first in customer satisfaction in the Greek market. In parallel, the Bank is at the forefront of digitalization and innovation in Greece, catering for the needs of more than 1.4mn customers in e-banking services. For more information on Piraeus Bank: http://www.piraeusbankgroup.com/en/

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