Wednesday September 3, 2014 Search
Weather | Athens
29o C
23o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
National Bank of Greece plans senior unsecured bond sale

National Bank of Greece SA is planning to sell senior bonds after the government last week returned to capital markets after a four-year exile.

The sale will take place after investor calls and a presentation in London next week, according to a person familiar with the matter, who asked not to be identified before the deal is completed. It follows Piraeus Bank SA, which last month held the first public sale of debt by a Greek financial company since 2009, according to data compiled by Bloomberg.

Greek banks have been raising funds in debt and equity markets before examinations of their loan books by the European Central Bank later this year. The government, which carried out the world’s biggest sovereign-debt restructuring in 2012, raised 3 billion euros ($4.2 billion) from international investors.

“The Greek banks are benefiting from a mixture of improved sentiment toward the sovereign and the rights issues they’ve done,” said Robert Montague, a credit analyst at ECM Asset Management Ltd. in London. ECM manages about $9.5 billion of assets.

Dimitris Spyropoulos, a spokesman in Athens for National Bank, wasn’t immediately available to comment.

The lender plans a 2.5 billion-euro stock issue that will bring its core Tier 1 ratio to 18.2 percent of assets weighted by risk and it will boost capital by another 1 billion euros with other actions, according to a statement yesterday.

The sovereign issue has helped establish a benchmark for Greek corporate issuance. The government bonds were priced at 99.13 cents on the euro to yield 4.95 percent, or 436 basis points more than German government debt. The yield has has since declined to 4.83 percent, according to prices on Bloomberg.

Piraeus Bank issued 500 million euros of three-year, 5 percent bonds that were priced to yield 5.125 percent on March 18. The securities now yield 3.59 percent. [Bloomberg]

ekathimerini.com , Thursday April 17, 2014 (13:32)  
Helexpo sell-off plan to be ready by mid-October
Maniatis talks energy with Washington’s man in Athens
Task force to examine cases of extreme taxation, customs issues
Hotels hike prices by 10 pct in H1 of 2014
Report points to suspicious clinic charges to EOPYY
A quarter of all the expenses submitted last year by private health clinics to EOPYY, the country’s largest healthcare provider, have been deemed suspicious and in need of further investigat...
New rector seeks to introduce ID checks at University of Athens
One day after his swearing-in ceremony was marred by protests against budget cuts and the expulsion of thousands of so-called eternal students, the new rector at the University of Athens, Th...
Inside News
Grateful Saviola thanks Olympiakos, joins Verona
Former Argentina international Javier Saviola has thanked Greek champions Olympiakos for the "beautiful moments" during his season-long stint in Greece as he left the club to join Serie A ou...
SOCCER
Greece defender Papadopoulos fires parting shot at Michel
International defender Avraam Papadopoulos suddenly quit Olympiakos on Monday to join Turkish club Trabzonspor, and fired a parting shot at Olympiakos manager Michel putting the blame on the...
Inside Sports
COMMENTARY
Politicized archaeology
Let us suppose that archaeologists discover that the tomb uncovered in Amphipolis was not the resting place of Roxana or Nearchos, but of Alexander the Great. Let us assume, that is, that ar...
EDITORIAL
Moderating expectations
Politics is, to a great extent, all about managing expectations, and anyone who raises that bar too high or too fast is at serious risk of disappointing and losing the people’s favor. In a c...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Helexpo sell-off plan to be ready by mid-October
2. Maniatis talks energy with Washington’s man in Athens
3. Task force to examine cases of extreme taxation, customs issues
4. Hotels hike prices by 10 pct in H1 of 2014
5. Pension system nears breaking point
6. Report points to suspicious clinic charges to EOPYY
more news
Today
This Week
1. Politicized archaeology
2. Rain and storms with hail expected in many parts of Greece
3. Reforms to dominate Greek talks in Paris, debt relief talks later, says source
4. New committee formed to assess progress of deregulation in closed-shop professions
5. Greece needs private debt overhaul, Piraeus Bank CEO says
6. Moderating expectations
Today
This Week
1. Thessaloniki mayor Boutaris sworn in wearing yellow star amid Golden Dawn protests
2. The battle against progress
3. Strong undersea quake occurs off island of Milos, felt in Athens
4. Hardouvelis, ECB executive discuss bank program, stress tests
5. Greek quest for debt relief faces hurdles in Paris
6. Prospect of Greek grand prix back on the agenda; huge investment needed
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.