DLA Piper has successfully advised Optima Bank, a prominent player in Greece's banking sector, in the launch of a significant €500 million Euro Medium Term Note (EMTN) Programme. This marks Optima Bank's entrance into the bond market with a €150 million issuance of Tier 2 Reset Notes set to mature in 2035.

The investor response was overwhelmingly positive, with the offering receiving subscriptions that exceeded initial expectations by 11 times. This level of demand positions it as the most sought-after European bank bond issuance within this year.

The issued Notes feature a fixed annual coupon rate of 5.5% and will mature in just over ten years. Interestingly, these instruments include an early redemption option available after five and a quarter years. For added liquidity and accessibility, they are listed and actively traded on the Luxembourg Stock Exchange’s Euro MTF market.

The capital raised from this issuance will significantly enhance Optima Bank's Tier 2 capital. Moreover, it will bolster the bank's liquidity and facilitate further growth and investments, particularly in lending and developmental projects within Greece.

Orestis Omran, a key figure in the cross-border team from DLA Piper, expressed his satisfaction with the deal: "The establishment of Optima's EMTN programme and the issuance of the Notes will further fortify Optima's leading stance in the Greek banking sector. This successful completion underscores our deep understanding of the Greek financial landscape and our proficiency in managing complex, cross-border debt capital market transactions."

The team from DLA Piper leading this financial maneuver included Orestis Omran from the firm's Brussels office, along with Louise Hennessey from the London office. They were supported by a robust team comprising Ioanna Saranti, Michail Risvas, and Elina Bitzika, showcasing DLA Piper's collaborative approach to handling high-stakes deals.

Optima Bank, known for its innovative and customer-centric approach, continues to make significant strides in the financial sector since its transformation from the Investment Bank of Greece in 2019. It combines cutting-edge digital banking tools with a rapidly expanding branch network to support individuals and businesses across Greece.

DLA Piper, a global law firm recognized for its comprehensive legal services across various industries, continues to strengthen its portfolio of successful financial transactions, demonstrating its capacity to deliver tailored and strategic solutions in the financial and regulatory arenas.