National raises 600 mln euros in bond issue
National Bank is one step closer to the final goal of achieving a capital ratio of 27.79% based on the minimum requirements for equity and eligible liabilities, known as MREL, after Monday’s issuance of the senior preferred bond amounting to 600 million euros.
The issue’s coupon following the explosive demand was set at 4.5%, against 5% that was the initial guidance, paving the way for the bank’s next moves by refinancing older issues at higher pricing.
In particular, the demand exceeded €2.4 billion, the highest level recorded in a similar issue by a Greek bank, covering the amount of the issue more than four times.
