Hellenic Bank issues EUR 90 mln bonds to boost capital

Hellenic Bank Public Company Ltd announced that has raised EUR 90 mln through the issue of bonds maturing 2019. The issue was dispersed to investors with a minimum sum of investment of EUR50,000.
The Bonds were issued on March 11, 2009 and have 10-year duration. The interest will be payable on a three-month basis and will be paid cash at the end of each period. Bonds bear a stable rate for the first year equal to 7.5% and a floating rate for the remaining periods until the end of the fifth year equal to the 3-month Euribor that will be valid at the beginning of each period plus 4.60%.
After March 11, 2014, the Bonds 2019, if they have not been redeemed by the Bank, will bear an additional rate of 2%. As a result, the interest rate after March 11, 2014 – if the Bonds 2019 have not been acquired by the bank – will be equal to the 3-month Euribor plus 6.60%.
The Bonds 2019 will be listed in the CSE as soon as the necessary approval by the competent authorities is secured.