National Bank plans 500-mln-euro bond issue

National Bank plans to issue a 500-million-euro three-year covered bond loan, taking advantage of the very positive climate during a series of presentations made by the underwriters of the issue to international investors recently.

National Bank’s sources said that this move will further enhance its liquidity, with the aim to fully repay money borrowed by the European Liquidity Assistance (ELA) mechanism by the end of the year and to become the first Greek systemic bank to bring ELA borrowing down to zero.