NBG Devises Senior Unsecured Bond Sale
The National Bank of Greece is preparing to sell senior bonds, following the government's capital market reentry, after four long years.
Hellenic financial institutions have been busy generating funds in equity markets and debt, prior to the European Central Bank's loan books cross-examination, planned later this year.
According to Kathimerini, ECM Asset Management Ltd. Credit Analyst Robert Montague described, "The Greek banks are benefiting from a mixture of improved sentiment toward the sovereign and the rights issues they've done".
Reported in yesterday's statement, the lender is devising a 2.5 billion-euro stock issue that will boost its core to a 18.2% Tier 1 ratio of assets, weighted by risk. Additionally, it will enhance capital by an additional 1 billion euros, with other planned strategies.
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