Optima Bank has successfully completed the issuance of a €200 million Additional Tier 1 (AT1) bond. The transaction represents another significant step for Optima Bank, as it strengthens its overall capital structure and secures the conditions for further dynamic growth.
According to the bank, the issuance confirms its steady upward trajectory, having recorded strong growth and high profitability in recent years, with an emphasis on asset quality and sustainable value creation.
Strong demand from the international investment community
The offering attracted exceptionally strong interest, with total demand exceeding €2.2 billion, leading to:
- 11-fold oversubscription
- A 50-basis-point reduction in the coupon rate (from the initial indication of 7.25% to 6.75%)
- Over 75% participation by foreign institutional investors
Meanwhile, according to data from the transaction coordinators:
- This is the highest oversubscription ever recorded for a Greek bond issue denominated in euros
- It represents the highest oversubscription achieved in a € AT1 issuance by a Greek issuer
- It is the highest oversubscription for a € AT1 issuance in Europe since the beginning of the year
The strong response reflects international investors’ confidence in Optima Bank’s business model and prospects.
Optima Bank CEO Dimitris Kyparissis stated: “The AT1 bond issuance is a significant milestone for Optima Bank, further strengthening our capital base and our ability to support our dynamic growth. The response from the international investment community confirms confidence in our business model and the bank’s prospects.”
Morgan Stanley SE acted as global coordinator of the transaction and, together with Goldman Sachs Bank Europe SE and BNP Paribas, acted jointly as joint bookrunners. Optima Bank served as co-manager of the transaction.
The law firms DLA Piper and Sardelas Petsa Law Firm acted as legal advisors to Optima Bank in the transaction, and Clifford Chance and Bernitsas Law Firm acted as advisors to the underwriters.