NBG reopens Greek covered bond market
National Bank of Greece attracted a diverse and deep pool of demand for its €750m three year covered bond on Tuesday, illustrating its ability to overcome investor concerns over its high non-performing loan ratio and the sustainability of the Greek government’s debt reduction programme.
National Bank of Greece issued a €750m three year conditional pass through (CPT) covered bond at a reoffer yield of 2.90%. The B3/-—/B rated deal attracted demand of €1.9bn, enabling joint leads to tighten pricing from 3.25% initially and refined guidance of 3.00% plus or minus 10bp.
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: firstname.lastname@example.org
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: email@example.com or find out more online here.