Greece
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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 (NBG) has appointed leads to market its first covered bond since the Greek sovereign crisis, a transaction which rival bankers believe is assured of success.
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With 65m people displaced worldwide, the refugee crisis can seem insurmountable. But despite this daunting scale, initiatives are being tried that could help some of those affected. Citigroup’s charitable foundation is giving $2m to a project to train refugees for the job market and entrepreneurship, in Greece, Jordan and Nigeria.
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National Bank of Greece’s covered bond rating would be higher given the bank’s commitment to a 25% minimum overcollateralization ratio, but this is constrained by the sovereign and issuer rating.
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National Bank of Greece (NBG) has appointed leads to market its first covered bond since the Greek sovereign crisis. Meanwhile, Nationale-Nederlanden (NN Bank) has signalled its intention to press ahead with its debut deal following its recent roadshow.
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Piraeus Bank will privately place a €500m five year covered bond to three supranational agencies in order to support €700m of new lending to small and medium sized companies across Greece.
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National Bank of Greece (NBG) is poised to issue the first post-crisis Greek covered bond, having drawn confidence from the blowout reception Santander Totta won for its €1bn 10 year this week — the longest Portuguese deal since 2010. Bill Thornhill reports.
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UK telecoms group Virgin Media was in the market for a £200m add-on of its 2024 receivable financing notes on Monday. By Wednesday, it had sold £450m of the deal, proving that demand is not restricted to the high yield debt market for euros, where three more deals were under way.
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A full €2.3bn of bond offerings from seven borrowers hit screens on Monday in the European high yield bond market, following last week's more than €3bn of new bonds despite fund inflows turning negative.
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National Bank of Greece (NBG) and another Greek issuer have confirmed they are looking at issuing the first Greek covered bonds since the sovereign debt crisis, reports Bill Thornhill.
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The scores are in. The BondMarker voters have delivered their verdict on Greece's long-awaited return to capital markets and on FMS Wertmanagement's five year dollar benchmark.
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