NBG returns to capital markets with 750m€ covered bond

Wednesday, 11 October 2017 12:30

National Bank on Tuesday returned to international capital markets for the first time since 2014, selling a 750-million-euro covered bond.

The three-year bond, rated single B by Fitch, includes a coupon of 2.75 percent.  The development marks a welcome return of a Greek lender to capital markets, as the country's four systemic banks have been recapitalized three times since an unprecedented economic crisis erupted in 2010.

The four systemic banks are also sitting on more than 100 billion euros of NPLs and NPEs.

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