National Bank of Greece informs the investor community that, further to its Board of Directors approval on May 26th 2010 and as part of its strategic planning for optimal use of its balance sheet and development of contingent liquidity, has established a second € 15 billion covered bond program, on 22nd June 2010. The bonds to be issued under this program will be secured by a cover pool of residential mortgage loans in euro and foreign currency originated by the Bank.
Earlier today, the Bank has issued the first three series of covered bonds, for a combined size of € 3.0 billion. 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.