National Bank of Greece SA has announced the launch of a voluntary cash tender offer for its €500,000,000 7.250% 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 also stated its intention to issue new euro-denominated unsubordinated MREL notes under its €5,000,000,000 Global Medium Term Note Programme. These new notes are planned to be admitted to trading on the Luxembourg Stock Exchange, pending market conditions.
Acceptance of any notes tendered in the offer will depend on the successful issuance of the new notes, as determined solely by National Bank of Greece SA. Both the settlement of the tender offer and the issuance of the new notes are expected to occur on the same day.
No public offering or distribution of offering material for these new notes will take place in any jurisdiction where such actions would require regulatory approval.
BofA Securities Europe SA, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE, Morgan Stanley Europe SE, Natixis and Banco Santander S.A. have been appointed as Dealer Managers for this tender offer.
The bank clarified: “This announcement does not constitute an invitation to participate in the Tender Offer 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. The distribution of this announcement may be restricted in certain jurisdictions by law.”
