Translated version of this PSD: Greek
The EBRD subscribed EUR 30 million to the EUR 750 million covered bond issued by National Bank of Greece S.A. (NBG). The project signals the return of Greek banks to the international debt capital markets. The bond matures in October 2020.
The bond proceeds will be used to reduce the bank's dependence on Eurosytem's Emergency Liquidity Assistance funding thus contributing towards the normalisation of NBG's liquidity position.
The project provides NBG access to medium-term funding, diversifies its funding sources and addresses balance sheet mismatches, while it supports the bank's efforts to create a benchmark pricing curve for its debt instruments.
NATIONAL BANK OF GREECE
NBG, one of the four Greek systemic banks, is the country's oldest lender having established in 1841. The bank has a total assets base of EUR 70 billion as of end of June 2017 and its shares are listed on the Athens Stock Exchange.
EBRD Finance Summary
EUR 100 million envelope for EBRD's investments in covered bonds issued under NBG's Covered Bond Programme II. The investment in the three-year benchmark covered bond issued by NBG in October 2017 was made in the amount of EUR 30 million.
Total Project Cost
Environmental and Social Summary
Categorised FI (ESP 2014): NBG is required to comply with the EBRD's Performance Requirements 2, 4 and 9, adopt and implement EBRD's Environmental and Social ("E&S") Procedures for Financial Institutions and submit Annual E&S reports to the EBRD.
Company Contact Information
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Public Information Policy (PIP)
The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP
Project Complaint Mechanism (PCM)
The Project Complaint Mechanism (PCM) is the EBRD's accountability mechanism. It provides an opportunity for an independent review of complaints from individuals and organisations concerning EBRD-financed projects which are alleged to have caused, or are likely to cause, environmental and/or social harm.
Please visit the Project Complaint Mechanism page to find information about how to submit a complaint. The PCM Officer (firstname.lastname@example.org) is available to answer any questions you may have regarding the submission of a complaint and criteria for registration and eligibility, in accordance with the PCM Rules of Procedure.