EFG Eurobank Ergasias S.A. ( Eurobank) as part of its strategic planning for the optimal use of its assets and for further enhancing its liquidity for the development of its activities, has issued two more series of covered bonds totaling Euro 1.2 billion.

More specifically, on June 08, 2010 it issued the third series of covered bonds of €700 million, rated A3 by Moody’s. The issue has a maturity of 1 year, which can be extended by 1 year, with a coupon rate based on the 1month Euribor rate plus a margin of 135 bps. The cover pool for this bond consists mainly of residential mortgage loans originated by the bank both in Euros and in Swiss francs.

The €700million covered bond is issued under a programme which was approved during the March 24th 2010 meeting of the Board of Directors of Eurobank EFG. Under this programme, Eurobank, subject to its discretion, will be able to issue covered bonds up to an amount of Euro 3 billion, efficiently utilizing its assets. The first series of €650 million was issued on the 26th of April 2010, while the second series of €650 million was issued on the 10th May 2010, which brings the total amount of covered bonds issued under this programme to €2.0 billion

Further more, on June 09, 2010 it issued the third series of covered bonds of Euro 500 million, rated A3 by Moody’s. The issue has a maturity of 1 year, which can be extended by 1 year, with a coupon rate based on the ECB rate plus a margin of 135 bps. The cover pool for this bond consists mainly of residential mortgage loans originated by the bank.
The Euro 500million covered bond is issued under a programme which was approved during the 03.03.2010 meeting of the Board of Directors of Eurobank EFG. Under this programme, Eurobank, subject to its discretion, will be able to issue covered bonds up to an amount of Euro 5 billion, efficiently utilizing its assets. The first series of Euro 500 million was issued on the 8th of March 2010, while the second series of Euro 750million was issued on the 26th May 2010, which brings the total amount of covered bonds issued under this programme to Euro 1.75 billion.