NBG issues 650 mln euro Green senior preferred bonds with a yield of 3.5%

The National Bank of Greece (NBG) has successfully placed a 650-million-euro senior preferred bond in the international capital markets, offering a yield of 3.5%. The bond, maturing in six years and callable after five years, marks NBG’s first investment-grade-rated Senior Preferred bond issuance since regaining its investment-grade status, CE Report quotes Athens-Macedonian

The transaction received strong investor demand, attracting approximately 4 billion euros from over 200 investors and was oversubscribed by more than six times. The final yield of 3.5% reflects a spread of 130bps over the corresponding mid-swap rate, the tightest spread achieved for Greek senior preferred issuance. Over 90% of the bonds were allocated to international institutional investors with over 90% placed with asset managers, insurance companies, pension funds, private banks and banks’ treasuries.

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