DLA Piper advises Greece's Optima Bank on EUR150 million Tier 2 bond issuance under its newly established EMTN Programme

DLA Piper has advised Optima Bank, a leading Greek financial institution, on the establishment of a EUR500 million Euro Medium Term Note Programme (EMTN) and inaugural issuance of EUR150 million Tier 2 Reset Notes due 2035 thereunder. The Notes, which are to be listed on the Official List of the Luxembourg Stock Exchange and admitted to trading on the Luxembourg Stock Exchange's Euro Medium Term Notes (MTF) market, have a tenor of 10.25 years, a fixed coupon of 5.5%, and include an optional redemption feature after 5.25 years.

The issuance drew strong demand from both Greek and international investors and was oversubscribed 11 times, making it the most oversubscribed European bank bond of 2025. The proceeds from the bonds will enhance Optima Bank's supervisory capital and financial metrics and bolster liquidity and funding for investment and development projects that it seeks to finance.

A cross-border team from DLA Piper worked on the transaction led by partners Orestis Omran (Litigation & Regulatory, Brussels, and head of the firm's Greece Country Group) and Louise Hennessey (Finance, London). Supporting them was senior associate Ioanna Saranti (Finance, London), senior lead lawyer Michail Risvas (Litigation & Regulatory, Brussels), and lawyer Elina Bitzika (Litigation & Regulatory, Brussels).

Commenting on the significance of this transaction, Orestis Omran, said: "The establishment of Optima's EMTN programme and issuance of the Notes thereunder will further strengthen Optima's leading position in the Greek banking sector. The successful completion of this issuance highlights our experience and knowledge of the Greek financial services market and our strength in cross-border debt capital market transactions."

DLA Piper's Debt Capital Markets team advises on the issuance of investment grade, high-yield, convertible and exchangeable debt securities, eurobonds, debt issuance, commercial paper and MTN programmes.