National Bank raised funds amounting to 650 million euros by the issuance of a green bond. Demand from the investors exceeded 3.35 billion euros, with the final pricing falling to 3.53% against 3.86% at the beginning.
This is the second “green” issue of the National Bank, with a duration of six years. The first green bond was issued in 2020. The issue is senior preferred with a maturity date of November 19, 2030 and the possibility of recalling one year earlier (19/11/2029) has been provided.
The funds raised will be used to finance projects with an ecological footprint and to further strengthen the ratio of minimum requirements for equity and eligible liabilities (MREL).
It is noted that NGE’s MREL ratio reached 26.6% in the third quarter of 2024, exceeding the minimum MREL requirement of January 2025 of 25.3% by 130 basis points.
