Marfin Popular Bank raises EUR 500 mln in 3-year senior debt issue

Marfin Popular Bank Public Co Ltd announced the successful completion of the issue of a EUR500 mln 3-year Senior Debt under the EMTN (Euro Medium Term Note) for the drawdown of medium term capital.
An important aspect of the issue was that the total demand for the issue reached EUR650 mln (1,3 times oversubscription). International institutional investors took up about 50% of the issue.
The issue strengthens the presence of the Marfin Popular Bank as an issuer in the international markets and is expected to contribute to the further improvement of the liquidity of the Group, targeting the expansion of the loan portfolio without any problems.
The current issue is the first of its kind by a Cyprus Bank after the recent world financial crisis.
The new 3-year Senior Debt has a fixed interest of 4.375% and will be listed on the Luxemburg Stock Exchange.
The joint book runners of the issue were BNP Paribas, DZ Bank, Lloyds TSB, Morgan Stanley and Unicredit.