National Bank of Greece buys back, cancels €800 million covered bonds

By Toni Weeks

San Luis Obispo, Calif., April 2 – National Bank of Greece SA said that it has repurchased and canceled some of its covered bonds from three series.

According to separate announcements, the company repurchased and cancelled the following on April 1:

• €250 million of the outstanding €1.15 billion of series 1 covered bonds due 2021, leaving €900 million of the bonds outstanding;

• €250 million of the outstanding €1.1 billion of series 4 floating-rate covered bonds due 2018, leaving €850 million of the bonds outstanding; and

• €300 million of the outstanding €1.2 billion of series 2 covered bonds due 2020, leaving €900 million of the bonds outstanding.

The Bank of New York Mellon (International) Ltd. is the trustee.

The bank is based in Athens.

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