NBG Covered Bonds (EBRD-49096)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Sep 20, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
National Bank of Greece
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 116.52 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 100 million
Converted using 2017-10-31 exchange rate.
Project Cost (USD)
$ 1,747.83 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported EUR 1,500
Converted using 2017-10-31 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Jan 13, 2019

Disclosed by Bank Oct 31, 2017


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Project Description

This project invests in the National Bank of Greece to reduce the Bank's dependence on Eurosytem's Emergency Liquidity Assistance funding.

Investment Description
  • European Bank for Reconstruction and Development (EBRD)

The EBRD's investment is in overed 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.

Private Actors

National Bank of Greece S.A., together with its subsidiaries, provides financial services. It operates through Retail Banking, Corporate & Investment Banking, Special Assets Unit, Global Markets and Asset Management, Insurance, International Banking Operations, Turkish Banking Operations, and Other segments. It offers current accounts, deposit multiproducts, deposits in foreign currency, savings accounts, sight accounts, and time deposit accounts.

Contact Information

Apostolos Mantzaris, Deputy Head of Funding Solutions and Structured Finance
mantzaris.ap@nbg.gr
+30 210 332 8517
https://www.nbg.gr/en
68 Akadimias Str, 106 78, Athens, Greece

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.