NBG Issues EUR1.5 Bil. Covered Bond

National Bank of Greece SA said Friday it has issued EUR1.5 billion in covered bonds.

The issue was in three EUR500 million tranches for five-, seven- and nine-year tenures, an announcement said.

The bonds issued under the program are secured by a cover pool of residential mortgage loans in euro and foreign currency, originated by the Bank. 

The series have a maturity of five, seven and nine years and a coupon rate based on ECB plus a margin of 170, 200 and 230 bps respectively. 

All series have been rated Baa3 by Moody΄s.