DLA Piper advises Optima Bank issuance

DLA Piper has provided legal counsel to Optima Bank, a prominent Greek financial institution, concerning the establishment of a EUR500 million Euro Medium Term Note Programme (EMTN) along with its inaugural issuance of EUR150 million Tier 2 Reset Notes due in 2035. These Notes are set to be listed on the Official List of the Luxembourg Stock Exchange and will be admitted for trading on the Luxembourg Stock Exchange's Euro Medium Term Notes (MTF) market. The Notes, characterised by a tenor of 10.25 years and a fixed coupon rate of 5.5%, also feature an optional redemption clause after 5.25 years.

The bond issuance witnessed remarkable demand from both local and international investors, being oversubscribed 11 times, thus earning the title of the most oversubscribed European bank bond of 2025. The funds raised from this issuance are intended to enhance Optima Bank's supervisory capital and financial metrics while improving liquidity and funding for various investment and development initiatives that the bank plans to pursue.

A cross-border team from DLA Piper facilitated the transaction, led by partners Orestis Omran and Louise Hennessey, with valuable contributions from senior associate Ioanna Saranti and other legal experts including Michail Risvas and Elina Bitzika. Orestis Omran remarked on the significance of the transaction, stating that "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." He further noted that the successful completion of this issuance highlights their "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 is well-versed in the issuance of a diverse array of debt instruments, including investment grade and high-yield securities, eurobonds, and MTN programmes, showcasing their extensive expertise in the financial sector.