National Bank of Greece (NBG), second by asset value of the country’s four systemic lenders, will proceed with the issuance of a senior preferred bond, just 10 days after draining 500 million euros from a similar such issue.

The bond matures four and a half years and is callable in three and a half years.

The placement aims to raise 200 million UK pounds.

A book building process has already opened, with the initial yield hovering at the 8.75 percent mark

Goldman Sachs is the sole bookrunner of the issue, with the senior preferred bond to be listed in the Luxembourg market, where it is expected to receive a Ba3 rating by Moody’s and B+ by S&P.

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