January 21, 2025 09:32 GMT
FINANCIALS: Eurobank - New issue - €400m exp 10.25NC5.25 Tier 2 - FV
FINANCIALS
Eurobank - New issue - €400m exp 10.25NC5.25 Tier 2
- IPT:220
- FV: 180 - adjusting for the cash price of the existing tier 2 issue - one can create a tier 2 curve, which when extrapolated reaches Z+178, We add 2bps for the curve shape uncertainty. Given the flatness of the SNR curve,
- the Tier 2 curve being fairly flat is expected.
- Exp. Ratings: Ba2/BB-
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