Greece's National Bank sells 500 mln euro bond

National Bank of Greece

27/09/2023 06:33

ATHENS, Sept 27 (Reuters) - National Bank (NBG)
 NBGr.AT , Greece's second-largest lender by market value,
concluded the sale of 500 million euros ($527.85 million) of
subordinated Tier II bonds at a yield of 8%, it said late on
Tuesday.
    Total bids for the paper, which matures in 10 years and is
callable in 5 years, topped 1.3 billion euros, the bank said in
a statement.
    The issue is part of the lender's strategy to improve its
capital structure and boost its minimum required eligible
liabilities (MREL), a supervisory requirement for banks, it
added.
    Barclays, Citi, Goldman Sachs Bank Europe, Morgan Stanley,
Nomura and Societe Generale acted as joint bookrunners, NBG
said. 
    

($1 = 0.9472 euros)

 (Reporting by Athens newsroom; Editing by Kim Coghill)
 ((athens.newsroom@thomsonreuters.com; 0030 210 3311800))