Latest news with #ATHEX
Business Wire
5 days ago
- Business
- Business Wire
Piraeus Initiates Partnership With Qualco for the Development of a Digital Solutions Platform for Mortgage Loans
ATHENS, Greece--(BUSINESS WIRE)--Piraeus Financial Holdings (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that its subsidiary, Piraeus Bank S.A. (hereinafter the 'Bank') has entered into a Shareholders' Agreement ('SHA') with the technological provider, Qualco S.A. ('Qualco') to establish an operational digitalization solutions platform initially focused on mortgage loans (the 'Platform'). The Platform will be developed and operated through a newly formed company, controlled by the Bank (51%), while Qualco retains a minority stake (49%). This strategic initiative aims to differentiate Piraeus' positioning by offering an end-to-end digital lending journey, accelerating time to cash, and optimizing loan disbursement processes. The Gen AI-powered Platform will enhance the mortgage lending experience by streamlining end to end the loan process, from application to disbursement, through advanced digital tools and technology- driven processes. Τhe Platform is envisaged to integrate in the future with real estate selling platforms and other digital tools, broadening the Bank's market reach. Τhe Platform will serve both as a processor of loans originated by the Bank, as well as a source of new loan opportunities for the Bank. Qualco holds a direct vested interest in the Platform's ongoing development, maintenance and product evolution to ensure optimal performance and profitability. Qualco, a leading technology company offering a wide range of analytics-driven fintech solutions with extended AI expertise and digital transformation experience, has been selected as the preferred partner for the development and deployment of the proposed solution as well as the long run support of the endeavor. KLC Law Firm acted as the external legal advisors for the Bank in connection with the transaction.
Yahoo
28-05-2025
- Business
- Yahoo
Piraeus Bank Successfully Priced a €500mn Green Senior Preferred Bond With Demand Exceeding €3.7bn
ATHENS, Greece, May 28, 2025--(BUSINESS WIRE)--Piraeus Financial Holdings S.A. (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that its subsidiary, Piraeus Bank S.A. ("Piraeus" or the "Bank"), has successfully completed the pricing of a new €500 million Green Senior Preferred Bond (hereinafter also called the "Bond") at a yield of 3.140%, attracting the interest of a large number of institutional investors. The Bond has a maturity of 3.5 years and an embedded issuer call option after 2.5 years. Settlement will take place on 3 June 2025 and the notes will be listed on the Luxembourg Stock Exchange's Euro MTF market. The Bond is expected to be assigned an investment grade rating of "Baa2" from Moody's Ratings. The net proceeds of the issuance will be directed in financing and/or refinancing in whole or in part, eligible green assets, as described in Piraeus' Green Bond Framework, providing positive environmental impact. This is the 3rd issuance of a Green Bond for Piraeus and the 2nd one out of its revamped Green Bond Framework dated May 2024. Piraeus is the only Greek Bank to have executed 3 issuances in the green area to date amounting to €1.65bn, proving its strong commitment in sustainability. Circa €0.8bn of the net proceeds of the two Piraeus outstanding Green Bonds have already been allocated to eligible green assets. Proforma for the new issuance, the Bank's MREL ratio stands at c.29.6%1, further enhancing our buffers to more than 200bps, compared to the Jun.25 fully phased MREL requirement of 27.45%. The transaction attracted significant interest from more than 200 institutional investors, with 64% placed among asset managers, 27% to banks and private banks, 5% to hedge funds and 4% to other investors. More than 80% was allocated to international institutional investors, with demand mainly from the UK & Ireland (29%), France (18%) and the DACH2 region (14%). Approximately 75% of the new issuance was allocated to ESG focused accounts. The total order book of the transaction exceeded €3.7 billion, being more than 7.4x oversubscribed compared to the issuance target of €500 million. The success of the transaction is a clear testament of investor confidence in Piraeus Bank. This is reflected in the tightest credit spread marked by any Senior Preferred Bond in the Greek space for a similar transaction in recent years, at 115bps, which is below the initial guidance of 145bps. The final coupon has been set at 3.00%, with a re-offer price of 99.68%. BNP Paribas, Goldman Sachs Europe SE (B&D), HSBC, J.P. Morgan, Société Générale, and UBS Investment Bank acted as joint bookrunners of the issue. Allen & Overy and Bernitsas Law Firm acted as legal advisors to Piraeus. Athens, 28 May 2025 1 Mar.25 MREL ratio, proforma for the new €500 million Green Senior Preferred Bond and the RWA relief from the held-for-sale NPE and real estate asset transactions2 DACH region refers to Germany, Austria and Switzerland View source version on Contacts PressOffice@ Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
28-05-2025
- Business
- Business Wire
Piraeus Bank Successfully Priced a €500mn Green Senior Preferred Bond With Demand Exceeding €3.7bn
ATHENS, Greece--(BUSINESS WIRE)--Piraeus Financial Holdings S.A. (ATHEX: TPEIR) (OTCQX:BPIRY) (OTCQX: BPIRF) announces that its subsidiary, Piraeus Bank S.A. ('Piraeus' or the 'Bank'), has successfully completed the pricing of a new €500 million Green Senior Preferred Bond (hereinafter also called the 'Bond') at a yield of 3.140%, attracting the interest of a large number of institutional investors. The Bond has a maturity of 3.5 years and an embedded issuer call option after 2.5 years. Settlement will take place on 3 June 2025 and the notes will be listed on the Luxembourg Stock Exchange's Euro MTF market. The Bond is expected to be assigned an investment grade rating of 'Baa2' from Moody's Ratings. The net proceeds of the issuance will be directed in financing and/or refinancing in whole or in part, eligible green assets, as described in Piraeus' Green Bond Framework, providing positive environmental impact. This is the 3rd issuance of a Green Bond for Piraeus and the 2nd one out of its revamped Green Bond Framework dated May 2024. Piraeus is the only Greek Bank to have executed 3 issuances in the green area to date amounting to €1.65bn, proving its strong commitment in sustainability. Circa €0.8bn of the net proceeds of the two Piraeus outstanding Green Bonds have already been allocated to eligible green assets. Proforma for the new issuance, the Bank's MREL ratio stands at c.29.6% 1, further enhancing our buffers to more than 200bps, compared to the Jun.25 fully phased MREL requirement of 27.45%. The transaction attracted significant interest from more than 200 institutional investors, with 64% placed among asset managers, 27% to banks and private banks, 5% to hedge funds and 4% to other investors. More than 80% was allocated to international institutional investors, with demand mainly from the UK & Ireland (29%), France (18%) and the DACH 2 region (14%). Approximately 75% of the new issuance was allocated to ESG focused accounts. The total order book of the transaction exceeded €3.7 billion, being more than 7.4x oversubscribed compared to the issuance target of €500 million. The success of the transaction is a clear testament of investor confidence in Piraeus Bank. This is reflected in the tightest credit spread marked by any Senior Preferred Bond in the Greek space for a similar transaction in recent years, at 115bps, which is below the initial guidance of 145bps. The final coupon has been set at 3.00%, with a re-offer price of 99.68%. BNP Paribas, Goldman Sachs Europe SE (B&D), HSBC, J.P. Morgan, Société Générale, and UBS Investment Bank acted as joint bookrunners of the issue. Allen & Overy and Bernitsas Law Firm acted as legal advisors to Piraeus. 1 Mar.25 MREL ratio, proforma for the new €500 million Green Senior Preferred Bond and the RWA relief from the held-for-sale NPE and real estate asset transactions 2 DACH region refers to Germany, Austria and Switzerland
