Latest news with #Piraeus
The Sun
31-05-2025
- Business
- The Sun
Brighton jump ahead of Man Utd and Arsenal in £34million transfer race for Greece wonderkid Babis Kostoulas, 18
BRIGHTON have moved ahead of Manchester United and Arsenal as well as a raft of other suitors for Olympiacos wonderkid Babis Kostoulas. And the Seagulls could sign the teenage sensation as early as Wednesday. 2 2 Kostoulas, 18, burst onto the scene this season, which saw him amassing six goals and one assist in 21 league appearances with the Greek champions. The versatile striker played a crucial role in the Piraeus outfit winning the Double and making it to the Last 16 of the Europa League, where they finished in the top eight during the league phase. That came after another stunning 2023-24 campaign that saw the Greece Under-21 international leading the club's Under-19s to Uefa Youth League glory, which marked the first ever European trophy won by a Greek team. SunSport reported the forward's stunning performances have led to interest from a number of Premier League clubs, such as Man Utd, Arsenal, Chelsea, Tottenham and Aston Villa. United even made contact with Olympiacos but have also been facing competition from Bayern Munich, Borussia Dortmund, Juventus, AC Milan and clubs from Spain - while there were also links with Real Madrid. But it is Brighton who have stolen a march on all of the above and are willing to splash the cash on the young prospect. SunSport can reveal Wednesday will be "crucial" regarding Kostoulas' future and the Seagulls' hopes of landing him. Olympiacos won't sell on the cheap and will insist on a major resale clause for their star player, who has a contract until 2030. Negotiations have reached a fee of €40million (£34m), which Fabian Hurzeler's side are currently not willing to meet despite their willingness to pay good money. SunSport, though, understand Kostoulas' fee could climb even higher to €50-55m (£42-46m). That would make Kostoulas the most expensive Greek transfer of all time as he would eclipse Kostas Manolas' £30m move from Roma to Napoli in 2019. Brighton recently completed the second most expensive Greek transfer of all time when they landed Stefanos Tzimas from Nuremberg following a £22m deal. That would see the Seagulls continuing their impressive run of snatching some of the world's best young talent after signing the likes of Yves Bissouma, Moises Caicedo, Alexis Mac Allister and more. Kostoulas is among Olympiacos' biggest wonderkids along with Konstantis Tzolakis and Christos Mouzakitis, who is also targeted by Brighton as SunSport recently reported. But Brighton face competition from Arsenal, Man Utd, Villa, Dortmund, Milan, Juventus, Wolves, Villarreal and Atletico Madrid for midfielder Mouzakitis, 18. Tzolakis, 22, on the other hand, has been ranked as the goalkeeper that's most ready for a top-five league competition under the age of 23 following stunning performances in the Europe League and last season's Conference League.
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
Travel Daily News
28-05-2025
- Business
- Travel Daily News
Piraeus tops Greece's property investment growth with 28% surge
Piraeus leads Greece's property market with 28% annual growth, highlighting top Golden Visa investment opportunities across high-demand regions. New analysis by Astons, a leading international firm specializing in real estate, residency, and citizenship through investment, highlights which regions of Greece currently offer the strongest investment opportunities, as annual property price increases reach up to 28%. Greece remains one of the world's most attractive Golden Visa destinations, offering foreign investors the opportunity to secure residency through a three-tier investment system. Tier A covers Greece's most sought-after locations – including Athens, Thessaloniki, and the islands – where the minimum investment is set at 800,000 euros (approximately $867,000). Tier B applies to other areas of the country with a lower threshold of 400,000 euros (approximately $435,000). Tier C, meanwhile, is designed for those investing in the conversion of commercial properties into residential use, requiring just 250,000 euros (approximately $278,000), regardless of location. According to Astons' data, no region has shown stronger annual price growth than Piraeus in the Attica region, which also leads in demand from Golden Visa investors. Between Q3 2023 and Q3 2024, average property prices in Piraeus surged by 27.8%, increasing from 2,000 euros per square metre to 2,556 euros per square metre. This puts the average price for a 120-square-metre property at 306,720 euros – well below the 800,000 euros Tier A minimum, requiring investors to carefully plan their acquisition strategies. Kavala Prefecture in Eastern Macedonia and Thrace follows closely, registering a 20.9% price increase over the past year, with average prices now at 1,630 euros per square metre. In a Tier B zone, this translates to an average property value of 195,600 euros, against a minimum investment requirement of 400,000 euros. Other notable regions showing double-digit annual growth include Chios Prefecture (20.6%), Sporades (19.9%), Grevena (17.5%), Lakonia (14.6%), Chalkidiki (14%), Messina (13.4%), Achaia (13.2%), and Zakynthos (11.5%). Alena Lesina, citizenship, residence permit, and real estate investment expert at Astons, emphasized that local market performance is key when evaluating investment opportunities: 'As with all countries, Greece's property market consists of many local markets, each performing differently in terms of price growth. Investors should consider two main factors: the potential return on investment based on local price trends, and the investment tier classification, which dictates minimum thresholds.' Lesina also pointed to a rising trend among developers focused on Tier C opportunities, particularly in regenerated areas of Attica such as Piraeus, Vouliagmeni, and Glyfada. These projects often involve converting older commercial properties – such as hotels and office buildings – into modern, eco-friendly residential units specifically designed for Golden Visa investors. Astons' findings suggest that while major cities and islands remain premium markets, evolving opportunities in regeneration projects and Tier C conversions are increasingly attractive for investors seeking flexibility, sustainability, and long-term growth potential in Greece's real estate landscape.
Yahoo
10-05-2025
- Business
- Yahoo
Piraeus Financial Holdings SA (BPIRF) Q1 2025 Earnings Call Highlights: Strong Profit Growth ...
Release Date: May 06, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Piraeus Financial Holdings SA (BPIRF) reported a strong net profit of EUR 284 million for Q1 2025, marking a 22% increase year-on-year. The company achieved a return on average tangible book value of 14.7%, surpassing the 2025 target of approximately 4%. Asset quality remains solid with a non-performing exposure (NPE) ratio at 2.6% and a historic low cost of risk at 35 basis points. The loan book expanded by EUR 1.1 billion in Q1 2025, continuing the strong momentum from 2024. Piraeus Financial Holdings SA (BPIRF) increased its assets under management to EUR 12.5 billion, already exceeding the 2025 target. Net interest income declined by 7% annually due to a material drop in interest rates. The company faces potential capital volatility from its securities book, which was not booked in amortized cost. There is uncertainty regarding the impact of Basel 4 and other regulatory changes on capital ratios. The mortgage market growth is expected to be moderate, with some initiatives progressing slower than anticipated. Further reductions in net interest income are expected in the coming quarters due to the normalization of base rates. Warning! GuruFocus has detected 8 Warning Signs with BPIRF. Q: What is the rationale behind the choice of not booking the increase in the securities book in amortized cost, and how are you managing potential capital volatility from these positions? Also, could you clarify the capital impact from the acquisition of ethnic insurance? A: The decision was to book the new additions under the OCI book with corresponding hedging instruments to avoid volatility. The capital impact from the ethnic insurance acquisition is expected to be between 150 and 160 basis points, with potential application of Article 49 of CRR3, though not currently in the primary plan. Q: How should we think about credit expansion seasonality across the year, and can you provide any insights into the current lending pipeline or changes in customer behavior? A: The first quarter was particularly strong with significant transactions setting the tone for the year. We are not upgrading our full-year guidance yet but remain vigilant. The retail consumer market is positive, and we expect moderate growth in the mortgage market by year-end. Q: How does the business outlook change if rates go below certain levels, and what are the drivers behind the increased NII sensitivity this quarter? A: The increased sensitivity is due to the unfreezing of mortgages, which are now sensitive to rate cuts. The assumed pass-through of rate cuts into time deposit costs is at 60%, currently at 52%. We expect the NII guidance to hold even with rate cuts, as growth is expected to mitigate any potential drop. Q: What is the outlook for NII in the coming quarters, and how do you see loan growth shaping up after a strong Q1? A: The book is still normalizing to new rates, and further NII reduction is expected, but growth will mitigate part of the drop. We are reconfirming our guidance of 2.6 billion in net credit growth for the year, with strong dialogue across various sectors. Q: Can you clarify the magnitude of living expenses related to Snappy in Q1, and what should we expect regarding servicing fees in the coming quarters? A: Snappy-related expenses in Q1 were $5 million, and this is expected to continue. Servicing fees are expected to see a mild reduction, having normalized to current levels. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. 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
