National Bank of Greece (NBG) announced the launch of a voluntary cash tender offer on March 19, 2024 in respect of its 400,000,000 euro subordinated fixed rate resettable Tier 2 notes due 2029.
The Bank also announced its intention to proceed, subject to market conditions, with the issuance of a series of new euro-denominated Tier 2 subordinated notes under the Bank’s 5,000,000,000 euro Global Medium Term Note Programme. Application will be made for the New Notes to be admitted to trading on the Luxembourg Stock Exchange.
The completion of the tender offer is conditional, without limitation, on whether the successful completion of the issuance of the new notes.
Settlement of the tender offer and the new notes is expected to take place on the same day.
No action has been or will be taken in any jurisdiction in relation to the new notes to permit a public offering of the new notes or the distribution of any offering material in any jurisdiction where action for that purpose is required.
Commerzbank Aktiengesellschaft, Goldman Sachs Bank Europe SE, Intesa Sanpaolo S.p.A, J.P. Morgan SE, Morgan Stanley Europe SE and Natixis have been appointed as dealer managers for the tender offer.
