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€ 100.000.000 AT1 Issuance and €150.000.000 T2 Issue

Published in:

05 June, 2025

Attica Bank S.A. («Attica Bank», «Bank», «Issuer») announces that is has successfully completed the issuance of:

  • € 100.000.000 Additional Tier 1 Notes (the “AT1 Notes”), fixed rated, perpetual Notes, callable after five (5) years and six (6) months and  
  • €150.000.000 Tier 2 (the “Tier 2 Notes”) fixed rate, subordinated Notes due after ten years, callable after 5 years

issued under the Bank’ s  Euro Medium Term Note Programme.

Moody’s Ratings assigned B2 and Caa1 (hyb) to Attica Bank's Tier 2 Notes and AT1 Notes respectively.

The AT1 Notes were oversubscribed by more than 4x with demand reaching c. €430mn, which enabled the Bank to lower the AT1 Notes’ pricing by 62.5 basis points, from 10.0% initially offered to 9.375%.  

Subscription for the Τ2 Notes reached c. €700mn (c.5x oversubscribed) resulting in lowering the final yield by 62.5 basis points, from 8.0% at initial offering, to 7.375%.

Foreign accounts covered 83%+ of the Tier 2 and 80%+ of the AT1 allocated demand, with UK investors accounting for close to 40% of allocations across each tranche, and granular participation from Benelux, France, Switzerland and UAE, amongst other regions. Majority of bonds were sold to Asset Managers, representing c.82% of the allocations in the Tier 2 tranche and 90% in the AT1 tranche, followed by Bank/Private Banks.

The oversubscription of the issuances is proof of investors’ trust in Attica Banks’ course of business.

The issuance forms part of the Bank’s strategy to enhance its capital structure and optimize its capital composition, while the proceeds from the issuance will be used for the Bank’s business purposes.  

Morgan Stanley acted as Sole Book Runner for both Issuances. Εuroxx Securities, Ambrosia Capital and Pantelakis Securities acted as  co-Managers. Milbank LLP and Bernitsas Law Firm acted as legal counsels for Attica Bank on English and Greek Law issues respectively.

For any further information investors can contact Attica Bank at info@atticabank.gr .