NBG Covered Bond

Zepos and Yannopoulos acted for the International Finance Corporation (IFC), a member of the World Bank Group, in its €40 million investment in a 3-year 750 million conditional pass through covered bond at 2.90% yield issued by the National Bank of Greece (NBG), the first Greek Covered Bond transaction since 2009 and the first market transaction for a Greek Bank since 2014. Due to high market demand, the final issuance size was raised to €750 million, from the original target of €500 million, with mainly private investors including asset management companies, pension funds, and other investment institutions and vast majority of the bonds being allocated to international investors.

UBS acted as Arranger. Bank of America Merrill Lynch, Deutsche Bank, Goldman Sachs, HSBC, NatWest Markets and UBS acted as Joint Lead Managers. Commerzbank and NBG acted as Co-Lead Managers.

The ZEYA team was led by Christina Papanikolopoulou, assisted by Mary Nigritinou.