National Bank of Greece informs the investor community that, in the context of its existing second € 15 bn Covered Bond Program, which was established on June 22nd 2010, has issued second tranches for each of its existing first three series, tapping each series with an additional € 500m.
The combined size of the additional issuance is € 1.5 bn. The bonds issued under the program are secured by a cover pool of residential mortgage loans in euro and foreign currency, originated by the Bank. The series have a maturity of five, seven and nine years and a coupon rate based on ECB plus a margin of 170, 200 and 230 bps respectively.
All series have been rated Baa3 by Moody's.