ERB Hellas to call exchangeable preferreds, three series of preferreds

By Angela McDaniels

Tacoma, Wash., April 23 – ERB Hellas Funding Ltd. plans to redeem its series A CMS-linked, series B fixed-to-floating and series C fixed-rate non-cumulative guaranteed non-voting preferred securities and its series D 8.25% non-cumulative guaranteed non-voting exchangeable preferred securities, according to a filing with the London Stock Exchange.

The preferreds are guaranteed by Eurobank Ergasias SA.

The next available call date is July 9 for the series C preferreds, Aug. 2 for the series B preferreds, Oct. 29 for the series D exchangeable preferreds and March 18, 2020 for the series A preferreds.

The issuer must issue a formal notice of redemption not less than 30 nor more than 60 days prior to the relevant redemption date.

The issuer has obtained the consent of the Single Supervisory Mechanism for the redemption of each series. The redemptions are also subject to other conditions.

Eurobank Ergasias is a bank based in Athens.

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