EFG Eurobank Ergasias 186 EuroWeek Financing financial institutions EFG Eurobank Ergasias Covered bonds Subordinated debt Senior unsecured Securitisation - 1,000 2,000 3,000 4,000 5,000 6,000 7,000 8,000 2005 2006 2007 2008 2009 2010 Source: Dealogic. Data to August 20 2010 $m Debt issuance Debt issuance Pricing date: November 12, 2009 Value: €300m Maturity date: February 11, 2013 coupon: 4.375% spread to swaps: 195bp bookrunners: Bank of America Merrill Lynch, Goldman Sachs, HSBC, Nomura Pricing date: September 7, 2009 Value: €500m Maturity date: March 15, 2011 coupon: 3m Euribor +125bp bookrunners: Deutsche Bank, Goldman Sachs, JPMorgan Pricing date: July 29, 2009 Value: €500m Maturity date: February 11, 2013 coupon: 4.375% spread to swaps: 220bp bookrunners: BNP Paribas, Deutsche Bank, JPMorgan, UBS Source: Dealogic Rank Lead Manager amount $m no of issues % share 1 EFG Eurobank Ergasias SA 2,700 6 85.67 2 Nomura 113 1 3.58 2 HSBC 113 1 3.58 2 Goldman Sachs 113 1 3.58 2 Bank of America Merrill Lynch 113 1 3.58 subtotal 3,152 7 100 total 3,152 7 100 Source: Dealogic (Sep 20, 2009 to Sep 19, 2010) Recent DeaLs - 500 1,000 1,500 2,000 2,500 3,000 3,500 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021-2040 2041+ Source: Dealogic. Data to September 1, 2010 (securitisations not included) $m MatuRity PRofiLe Actual tier one (2009) Benchmark scenario Adverse scenario Additional sovereign shock Source: Committee of European Banking Supervisors % 11.2 11.7 10.2 8.2 0 2 4 6 8 10 12 14 cebs stRess tests toP bookRunneRs investor relations Dimitris Nikolos +30 210 333 7688 [email protected] key contacts efG eurobank ergasias sa Long term iDR bbb- (negative outlook) short term iDR f3 individual Rating D support Rating 2 support Rating floor bbb- summary: EFG Eurobank Ergasias SA’s (Eurobank) issuer default rating is based on Fitch Ratings’ assessment of the availability of international support for the Greek banking system from the IMF/EU support framework and via the European Central Bank. Eurobank’s individual rating reflects its strained funding and liquidity profile (including high reliance on ECB funding) and the still-challenging operating environment in Greece and in many south-eastern European countries, which Fitch expects to result in depressed profitability and worsening asset quality at the bank in the short to medium term. The rating also takes into account Eurobank’s adequate capitalisation, sound domestic loan and deposit franchise, and diversification from SEE operations. Despite a thinner net interest margin and a marked rise in credit costs, Eurobank’s operating ROAA was relatively resilient in 2009 and 1H10, supported by its good domestic franchise, relatively diversified banking revenues and tighter cost control. These factors should help ease profitability pressure for the rest of 2010 from low business volumes, continued margin pressure and sustained high loan impairment charges. fitch RatinGs uPDate