BUSINESS

Greece's NBG concludes securitization of business loans

TAGS: Banking

National Bank of Greece said on Monday it had concluded the securitization of business loans which would allow it to raise up to 300 million euros in medium-term funding.

NBG said it would place the senior notes with the European Investment Bank, the European Investment Fund and the European Bank for Reconstruction and Development.

It was the first securitization transaction since 2007, National said.

It said the transaction sought to enhance the access of Greek small to medium-sized businesses to “affordable financing.”

Additionally, NBG said it would launch new lending for investment projects in Greece in November, covering a two-year period in which more than 2,000 small to medium-sized businesses and mid-caps stood to benefit.

[Reuters]

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