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National Bank: Issuance of EUR 750mn covered bond at 2.9%

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The National Bank proceeded  with the issuance of a covered bond backed by mortgage loans, as planned following the roadshow announced last week.

Given the strong interest on behalf of investors the group decided to raise EUR 750mn vs an initial target of EUR 300-500mn, as total offers from 110 investors exceeded EUR 2.0bn.

The yield was set at 2.9% significantly lower that the initial guidance, while the majority of the issuance was placed with foreign investors.
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