September 17, 2024 08:32 GMT
CREDIT SUPPLY: EUROB Green SP Issue; We See FV Around MS+175bp Area
CREDIT SUPPLY
Eurobank (EUROB: Ba2/BB- pos/BB+ pos) issuing green senior preferred today; we see fair value around MS+175bp area.
- EUROB is issuing EUR benchmark 6NC5 green fixed senior preferred with IPT at MS+210bp area. Expected rating is Baa2.
- EUROB has a populated curve and, generally, trades tight of local peer Piraeus. We see fair value coming well inside the latter, around MS+175bp area.
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