Further to a previous announcement, MARFIN EGNATIA BANK SA hereby announces that its Board of Directors, at the meeting of 17.11.2008, resolved on the issuance of the first series of (common) covered bonds amounting to 1 billion euro, with maturity of up to 2 years from the Date of Issuance with the option of 1 year extension, at ECB rate plus margin 1.10% per annum, and in accordance with the other terms of the Issuance Programme (hereinafter referred to as "the Bonds"). The Bonds have been rated ΑΑΑ/Αaa by Fitch Ratings and Moody's Investors respectively. The first direct issuance of the Bonds in Greece was effected as part of a Programme for the issuance of (common) covered bonds of up to 3 billion euros, pursuant to article 91 of law 3601/2007, as supplemented with article 48 of law 3693/2008, in conjunction with articles 1 through 9, 12 and 14 of law 3156/2003 and the Act of the Governor of the Bank of Greece nr. 2598/2007, and following the relevant approval of the Bank of Greece. The cover pool assets constituting the "cover", in the sense of para. 3, article 91 of law 3601/2007 for the Bonds is comprised by residential mortgage loans, all of which are subject to the terms and conditions of the applicable Legislation. Moreover, as security of any claims of the Bondholders and all Secured Creditors, MARFIN POPULAR BANK PUBLIC CO LTD has agreed to provide the Bank with credit facilities. The Bonds were listed for trading at the Stock Exchange of Ireland and, upon issuance, were retained by the Bank at the price of issuance, namely against consideration of one (1) billion euros for the purpose of re-disposing same to institutional investors at any time until maturity. Until new disposal of the Bonds to institutional investors, the Bonds will be used as security for obtaining liquid funds from the European Central Bank through the Bank of Greece, by virtue of the Deed of Monetary Policy Council nr. 54/27.2.2004, as in force following amendment by the Deed of the Monetary Policy Council of the Bank of Greece nr. 61/6.12.2006.
This Announcement constitutes regulated information pursuant to Laws 3340/2005 and 3556/2007, is published in accordance with the provisions of articles 19 - 21 of law 3556/2007 and decision nr. 1/434/3.7.2007 of the Board of Directors of the Capital Market Commission, and is available on the Issuer's website (www.marfinegnatiabank.gr).