National Bank of Greece planning euro-covered benchmark


National Bank of Greece has announced plans for a euro-covered benchmark, the first Greek bank bond in the public market since 2014 and a crucial step in normalizing its funding after years of costly central bank support.

The three-year trade, in conditional pass-through format will likely be 500 million euros in size. The market has been on the lookout for Greek bank issuance ever since the sovereign sold its first euro benchmark in three years in late July. [Reuters]