National Bank of Greece to issue five-year bond
The title will strengthen the overall capital adequacy ratio of the bank, within the framework of its obligation (MREL) to increase it to 26% by 2025
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The National Bank of Greece is proceeding with the issue of a 5-year senior preferred bond with a 4-year right of withdrawal (5NC4).
The release was announced by EO Pavlos Mylonas last week during the teleconference with analysts after the announcement of the results of the third quarter of 2022.
This is a title that will strengthen the overall capital adequacy ratio of the bank, within the framework of its obligation (MREL) to increase it to 26% by 2025.
The bank has reached the MREL targets for this year. However, despite the rise in interest rates, it has chosen to keep open the lines for drawing funds from the markets.
As reported by Bloomberg, BofA Securities, Goldman Sachs, IMI-Intesa Sanpaolo, Nomura and UBS Investment are underwriters of the National Bank issue.
The bonds are expected to be rated ‘Ba3’ by Moody’s and ‘B+’ by S&P.
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