The Hellenic Republic
EUR 1 billion GGB FRN due 15 December 2027
PRESS RELEASE – 21th of July 2022
Summary Terms
|
Issuer Ratings: |
Ba3 (Moody's) / BB+ (S&P) / BB (Fitch) / BB (high) (DBRS) |
|
Type: |
Senior Floating Rate Notes |
|
Format: |
Regulation S (Category 1) / 144A |
|
Currency: |
Euro |
|
Issue Size: |
€1,000,000,000 |
|
Tenor: |
5 years |
|
Pricing Date: |
21 July 2022 |
|
Issue Date: |
28 July 2022 (T+5) |
|
Maturity Date: |
15 December 2027 |
|
Coupon Dates: |
15 March, 15 June, 15 September and 15 December of each year |
|
First Coupon Date: |
15 September 2022 |
|
Form of the Notes: |
Dematerialised |
|
Denominations: |
€1,000 and integral multiples in excess thereof |
|
Coupon (excluding first Interest Period): |
Three-Month EURIBOR plus 123 basis points per annum payable in arrear |
|
Interpolated Rate (first Interest Period): |
1.13%
|
|
Issue Price: |
100%
|
|
Listing: |
Athens Stock Exchange |
|
Clearing: |
Bank of Greece System for Monitoring Transactions in Book-entry Securities (BOGS) |
|
ISIN: |
GR0514024216 |
|
Law: |
English Law |
|
Joint Lead Managers: |
Alpha Bank S.A., Eurobank S.A., National Bank of Greece S.A., Piraeus Bank S.A. |
Transaction Highlights
- On Thursday 21st of July 2022, the Hellenic Republic, rated Ba3 Stable by Moody’s, BB+ stable by S&P, BB positive by Fitch and BB (high) stable by DBRS, announces that it has successfully launched and priced the issuance of €1.0 billion of 5-Year Floating Rate Notes.
- This transaction marks Hellenic Republic’s first FRN in the debt capital markets for more than a decade and is in alignment with the Issuer’s focus to further diversify its sources of funding. It allows the Hellenic Republic to continue executing its debt issuance programme, despite elevated volatility in the markets, utilizing a niche investment proposition.
- Alpha Bank, Eurobank, National Bank of Greece and Piraeus Bank acted as Sole Lead Managers in this transaction.
- The Notes will be admitted for trading in the Electronic Secondary Securities Market [HDAT] operated by the Bank of Greece and will be listed on the Athens Stock Exchange.
