The covered bonds to be placed have not been and will not be registered under the U.S Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption from such registration requirements
Announcement - sale of covered bonds
NBG announces that as part of its euro 10 billion covered bond issue programme established on 26 November 2008 it has completed the placement of its 3rd series of covered bonds with domestic and international institutional investors. This series of bonds, totalling euro 1.5 billion, is of a 7-year maturity and shall be issued on 7 October 2009. It is priced at 99.238 and pays a coupon of 3.875%. This pricing is equivalent to a fixed yield of 4%, and corresponds to a spread of 0.90% over the respective 7-year swap rate.
This is the first placement of covered bonds by a Greek bank with a wide range of final investors. It has been given AAA and Aaa ratings by Fitch and Moody's respectively. The bond issue was four times oversubscribed, with bids submitted amounting to approximately euro 6 billion, from a total of 151 investors.