Piraeus Bank announces the Tender Offer to purchase existing securities for cash

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Piraeus Bank announces the Tender Offer to purchase existing securities for cash

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Piraeus Bank announces the Tender Offer to purchase existing securities for cash

15 March 2012

Piraeus Bank announces the Tender Offer to purchase existing securities for cash. This Tender Offer refers to subordinated and hybrid securities totalling €489 mn. Barclays Bank Plc and Morgan Stanley will act as Dealer Managers.

This Tender Offer enables Piraeus Bank to safeguard its capital position and strengthen the quality and the structure of its regulatory capital, with the increase of its Core Tier 1 capital by around 70 basis points (pre tax).

The Investors are offered the opportunity to liquidate their holdings at prices significantly higher compared to the secondary market, while they can visit the Bank’s corporate site www.piraeusbank.gr for additional information.

The offer is expected to be completed by March 9, 2012.

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