IMI Corporate & Investment Banking Division acted as Joint Bookrunner in National Bank of Greece (NBG) new 500 million euro 5NC4 Senior Preferred bond issue.
The deal represents the longest maturity Senior Preferred ever issued in the primary market by a Greek issuer.
Following positive feedback from investors, NBG announced the IPT (Initial Price Thoughts) at 7.75 percent YTC area on November 15, also setting the deal amount at 500 million euro.
In no time, orders reached 1 billion euros, peaking at 1.15 billion; solid primary demand enabled the issuer to price the instrument at 7.5% YTC, equivalent to a 7.25% coupon.
The book was attended by over a hundred institutional investors with 60% of the bonds allocated to international investors, for a final amount of 1.1 billion euros of orders.