National Bank of Greece SA has announced the launch of voluntary cash tender offers for its €500,000,000 2.750% Green Fixed Rate Resettable Unsubordinated MREL Notes due 2026 and £200,000,000 8.750% Fixed Rate Resettable Unsubordinated MREL Notes due 2027. The announcement was made in accordance with Regulation (EU) 596/2014 and Greek law 3556/2007.
The bank intends to issue a series of new euro-denominated unsubordinated MREL notes under its €5,000,000,000 Global Medium Term Note Programme. These new notes are expected to be admitted to trading on the Luxembourg Stock Exchange.
Acceptance of any notes tendered is conditional upon the successful issuance of the new notes. Settlement for both the tender offers and the new notes is anticipated to occur on the same day.
BofA Securities Europe SA, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE, HSBC Continental Europe, Intesa Sanpaolo S.p.A., Morgan Stanley Europe SE, and Société Générale are acting as dealer managers for these offers.
“This announcement does not constitute an invitation to participate in the Tender Offers or the New Notes in any jurisdiction in which, or to or from any person to or from whom, it is unlawful to make such invitation under applicable securities laws,” stated the bank. The distribution of this announcement may be restricted by law in certain jurisdictions.
