We are very happy that we have advised National Bank of Greece in relation to the very successful issuance of the €500m senior preferred bonds with a coupon of 7.25% and a yield of 7.50% and its placement with the internal capital markets. The bonds issued mature in five years and are callable in four years. The issuance took place as part of the Bank’s strategy to increase its Minimum Required Eligible Liabilities (MREL), in the context of the supervisory requirement which applies to all systemic banks.

The transaction attracted interest in excess of €1.1 billion, with the participation of more than 100 institutional investors. More than 60% of the bond was allocated to international institutional investors.
BofA Securities, Goldman Sachs Bank Europe SE, IMI Intesa Sanpaolo, Nomura and UBS acted as joint bookrunners of the issuance.

Our Capital Markets and Financial Regulation team was led by our partner Alexandra Kondyli and our Senior Associate Maria Chronaki, assisted by Sergios Charalambous and Dimitris Passas. The tax matters of the transaction were handled by our partner, Georgios Minoudis, assisted by our Senior Associate Eleonora Ligoutsikou and our Trainee Lawyer Katerina Stathakarou.

For more information: https://lnkd.in/deGZfkjF