Capital Markets

Debt Capital Markets

• The Joint Lead Managers on the Hellenic Republic’s issuance of €2,500,000,00 3.450 per cent Notes due 2 April 2024. The Joint Lead Managers, subject to the terms of a subscription agreement dated 01 February 2019, severally but not jointly, agreed with the Republic to purchase the Notes at the issue price of 99.314 per cent of their principal amount.
• The Joint Lead Managers on the Hellenic Republic’s issuance of €2,500,000,00 3.875 per cent Notes due 12 March 2029. The Joint Lead Managers, subject to the terms of a subscription agreement dated 08 March 2019, severally but not jointly, agreed with the Republic to purchase the Notes at the issue price of 99.796 per cent of their principal amount.
• The Joint Lead Managers on the Hellenic Republic’s issuance of €2,500,000,000, 1.875 per cent Notes due 2026, on the terms and conditions set out in the offering circular prepared by the Republic and dated 19th of July, 2019. According to the PDMA’s announcement, this 7-year benchmark issue, added yet another point to Greece’s yield curve, priced with the lowest yield (1.90%) and lowest coupon (1.875%) that the Hellenic Republic has ever achieved for a Euro-denominated benchmark syndication. Moreover, this transaction represents the first time that the Hellenic Republic came to market with three syndications in one year since 2010, demonstrating the normalization of Greece’s access to international capital markets.
• The Joint Lead Managers on the Hellenic Republic’s issuance of €2,500,000,000, 1.875 per cent Notes due 2035, on the terms and conditions set out in the offering circular prepared by the Republic and dated 31st January 2020, and the subsequent tap issuance of €2,000,000,000, 1.875 per cent. Notes due 2035. According to the PDMA’s announcement, “This 15-year benchmark issue represents the bond with the longest tenor that has been issued by the Hellenic Republic since the onset of the financial crisis, in 2009. Furthermore, it constitutes the first time that the Hellenic Republic comes to the market with a new, all-new-money bond whose maturity is longer than 2032, the year when the long-term relief measures for the Greek debt are expected to expire. In this regard, the transaction demonstrates the trust of the investor community towards the Greek State and represents yet another illustration of the country’s return to “normality” in international capital markets. This transaction is also the first GGB syndication after the end of Hellenic Republic’s fiscal adjustment programme to be priced vs. mid-swaps, rather than yield, further highlighting Greece’s return to European government bond (“EGB”) space.”
• The Joint Lead Managers on the Hellenic Republic’s issuance of €3,000,000,000, 1.50 per cent Notes due 2030, on the terms and conditions set out in the preliminary offering circular prepared by the Republic and dated 8th June, 2020, and the offering circular prepared by the Republic and dated 16th of June, 2020, as well as the subsequent tap issuance of €2,500,000,000, 1.50 per cent. Notes due 2030. The new 2030 GGB issued by the Hellenic Republic marks the lowest coupon ever achieved by the sovereign for its internationally placed EUR-denominated bonds. Persistent normalization of Greek Government bonds secondary levels after the spike of Covid-19 allowed to price the deal at one of the lowest all-in yields for the Republic. The offering comes amid increased funding needs for the Hellenic Republic to combat Covid-19 impact, in line with governments across the globe. It is the third market exercise by the Hellenic Republic in 2020 after €2bn 7yr priced at MS+220bps on 15th April and €2.5bn 15yr notes from 28th January with the re-offer spread of MS+165bps.
• The Arrangers for the initial issuance of Euro 500mio bond by Hellenic Petroleum Group and a tap issue of Euro 99.9mio.
• Alpha Bank S.A. on the updates of its EMTN Programme for over a decade and also on the most recent (2019) update of its EMTN Programme and issuance of a Euro 500 million Tier II subordinated bond.
• The Mandated Lead Arrangers (the four Greek Systemic Banks and Euroxx Securities) and the issuance advisors (Eurobank and Piraeus Bank) on the Euro320mio. bond loan issued by Lamda Development S.A. (one of the largest listed real estate development companies in Greece) through a public offering and admitted to trading on the Athens Exchange – part of the proceeds of the bond loan will be used to finance the development of the landmark project at Athens’ former Hellinikon airport (one of the largest bonds’ public offerings that has taken place in Greece over the last years (in terms of the amount raised)).
• The Arrangers for the issuance of Euro 375mio bonds guaranteed by Hellenic Petroleum and listed in Luxembourg Stock Exchange and the subsequent Euro 74.5mio tap issue.
• J.P. Morgan Securities plc, Goldman Sachs International and HSBC Bank plc (Initial Purchasers) and J.P. Morgan Europe Limited (Agent) on the high yield issuance of Euro525mio 4.250% senior secured notes due 2024 by Crystal Almond S.á.r.l., guaranteed by its subsidiary Wind Hellas Telecommunications S.A. and listed in Luxembourg Stock Exchange.
• J.P. Morgan Securities plc on the high yield issuance of Euro250mio 10.000% senior secured notes due 2021 by Crystal Almond S.á.r.l., guaranteed by its subsidiary Wind Hellas Telecommunications S.A. listed in Luxembourg Stock Exchange and subsequent tap issue of Euro95mio.
• Eurobank Ergasias S.A., Piraeus Bank S.A. and Euroxx Securities S.A. on the Euro200mio. bond loan issued by Aegean Airlines S.A. (the market leader in the airlines industry) admitted to trading on the Athens Exchange.
• Alpha Bank and NBG Securities as the mandated lead arrangers and Alpha Bank as advisor in respect of the issuance by Coral S.A. (100% subsidiary of Motoroil S.A., a market leader in the petroleum products) of a bond loan of Euros 90mil. admitted to trading on the Athens Exchange.

Equity Capital Markets

• Eurobank Ergasias S.A. and Piraeus Bank S.A. on the Euro 650mio rights offering of Lamda Development S.A. (one of the largest listed real estate development companies in Greece) admitted to trading on the Athens Exchange in order to finance part of the development of the landmark project at Athens’ former Hellinikon airport (the largest non-financial share capital increase that has taken place in Greece over the last decade).
• Alpha Bank S.A. on its €1.2bn share capital increase, in order to further strengthen its capital position. Following the completion of this share capital increase, Alpha Bank S.A. was the Greek bank with the highest regulatory capital.
• Alpha Bank S.A. on its €1.5bn capital raising through the offering of new shares for cash through a book-building completed outside Greece. The transaction was completed in parallel with an LME transaction of €1bn, resulting into the successful €2.55bn recapitalization of Alpha Bank.
• JP Morgan, Citibank, HSBC and Credit Agricole CIB on a €457.1mio rights offering of Alpha Bank S.A. on its €4bn recapitalization share capital increase pursuant to Greek law 3864/2010.
• Kanakis family on the sale of 100% in Stelios Kanakis S.A. to Orkla Food Ingredients AS (OFI).
• Nexans S.A. in its tender offer for the acquisition of all outstanding shares in Nexans Hellas S.A. and the delisting of the latter from AthEx
• Tender Offer for the acquisition of all outstanding shares of Sfakianakis S.A., one of the largest car distributors and car leasing undertakings in Greece.