Athens, June 11th, 2004 - Piraeus Bank today announced the signing of its newly established 2.0 billion Euro Medium Term Note Programme on June 9th, 2004, arranged by Deutsche Bank AG London.
Piraeus Bank intends to use the programme for long-term funding to further diversify its funding sources. The programme is rated Baa1 by Moody's and BBB by Standard and Poor's.
Piraeus Bank has mandated Deutsche Bank and Morgan Stanley to lead manage its inaugural 3-yr Euro benchmark FRN transaction. The issue comes off its newly established EMTN Programme. The transaction will be launched in the near future subject to market conditions. FSA/IMPA stabilization shall apply.
Programme Terms are:
| Issuer: | Piraeus Bank S.A. or Piraeus Group Finance PLC |
| Guarantor: | Piraeus Bank S.A. |
| Arranger: | Deutsche Bank AG London |
| Dealers: | ABN Amro, Banc of America Securities Limited, Credit Suisse First Boston, Deutsche Bank, Morgan Stanley, Natexis Banques Populaires, Nomura International, UBS Investment Bank, Piraeus Bank S.A. |
| Amount: | Euro 2.0 billion |
| Tenors: | Up to 10 years |
| Type of Debt: | Senior, subordinated |
| Distribution: | Public issues, private placements |
| IPA: | Deutsche Bank |
For further information, please contact:
| Deutsche Bank Nicholas Exarchos Head of Global Markets Greece & Cyprus +44 207 547 5720 |
Morgan Stanley Andrew Readinger Managing Director, Head of FIG Debt Capital +44 207 677 7711 |
Piraeus Bank S.A. George Poulopoulos Director, Investor Relations +30 210 333 5198 |
About Piraeus Bank Group:
The Piraeus Bank Group is a universal banking group offering a wide spectrum of financial products and services through its retail branch network and its subsidiaries covering the entire domestic market. It has developed rapidly over the last decade through organic growth and acquisitions and is presently the third largest privately-held banking group in Greece. As of March 31st, 2004, the Group had total assets of € 15.2 billion, a network of 269 branches at home and abroad, and employed 5000 people. Internationally, the Group is developing its activities in South-eastern Europe and maintains a presence in the financial centers of London and New York.