Lambadarios advised Piraeus Bank & Alpha Bank in the successful public bond issuance of Intralot in the ATHEX amounting to €130m

Date: 28th February 2024

Congratulations to all parties involved in today’s news!

Lambadarios Capital Markets team advised Piraeus Bank and Alpha Bank in the successful public bond issuance of Intralot in the Athens Stock Exchange amounting to €130m. Our team supported the two parties in their role as joint coordinators in all aspects relating to the structure of the transaction and the prospectus for the offer of the bonds, conducted the due diligence on the issuer, and coordinated the due diligence on its foreign subsidiaries in cooperation with the Milbank team.

The initial public offering was set at €130m with a yield range of 6 – 6,4% per annum, which started on Wednesday, 21 February, and concluded today. The total valid demand from investors participating in the Public Offering led to an oversubscription of x1,55 times, of €201,87m, and to a final yield and interest rate of 6%. 76,92% of the bonds were allocated to Retail Investors, and 23,08% was allocated to Qualified Investors.

Our Capital Markets team was led by Managing Partner Constantinos Lambadarios and Partners Prokopis Dimitriadis and Melina Katsimi and assisted by Senior Associate Margarita Kontogeorgou.

Piraeus Bank and Alpha Bank acted as Joint Coordinators, and Attica Bank, Ambrosia Capital, Optima Bank, and Euroxx Securities SA acted as Underwriters. We want to extend a big thank you to the Piraeus team, Angelos Dimitriadis and Maria Karachaliou; the Alpha team Costas Foulides and Demi Koulourioti; to the Milbank team Apostolos Gkoutzinis, Ana Grbec, and Alexia Pimbli as well as to Nicholas Papapolitis and Nicholas Katsaros of Papapolitis & Papapolitis and Aleka Kondyli and Christina Faitakis of the Karatzas & Partners legal team for their impeccable cooperation!