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Financial management

Treasury operations

Funding & Investing

The Treasury department operates under guidelines established by the Banks Asset & Liability Committee. The Treasury identifies, measures and manages the risks inherent in the Bank’s balance sheet, ensures that timely funding is available for lending operations and invests funds that are surplus to lending requirements. The Bank takes a conservative approach to Treasury Management and regards preservation of its capital as the primary objective.

 

Bond Issues and Private Placements

Current outstanding bond issues and private placements

  • EUR 100 million private placement – October 2020 - October 2030. Coupon 1.25%. MTN Programme.
  • CZK 900 million private placement – August 2020 -August 2023. Floating at  3m Pribor + 105bps
  • USD 150 million tap of 3.50% notes due June 2024 and 92.4 million USD switch tender offer of the notes due 2021
  • RON 450 million private placement – May 2020 – May 2022. Coupon 4.7%. MTN Programme
  • CHF 200 million bond issued in November 2019, with a coupon of 0.45%, maturing in June 2023
  • AZN 10 million bond issued in August 2019, with a coupon of 9.25%, maturing in August 2021
  • USD 400 million bond – June 2019 – June 2024 – Coupon 3.5%. MTN Programme
  • RON 210 million private placement – February 2019 – February 2022. Coupon 4.9%. MTN Programme
  • RON 144.5 million private placement – December 2018 – December 2021. Coupon 4.9%. MTN Programme.
  • RON 38 million private placement – October 2018 – October 2021. Coupon 5.125%. MTN Programme.
  • GEL 120 million, domestic public bond issue – June 2018 – June 2021. Floating coupon rate NBG 3 month CD rate.
  • GEL 50 million, domestic public bond issue – June 2018 – June 2023. Floating coupon rate NBG 3 month CD rate.
  • GEL 25 million, domestic private placement – March 2018 – March 2021 Floating coupon rate NBG 3 month CD rate.
  • GEL 60 million, domestic private placement - August 2016 – July 2021. Floating coupon rate NBG 3 month CD rate.
  • USD 500 million bond - April, 2016 – April 2021. Coupon 4.875%. MTN Programme.

Issuance programmes

  • Euro 2 billion MTN Programme increased , June 2020
  • EURO 1 Billion MTN Programme established, June 2015
  • EURO 1 billion Euro Commercial Paper program established, April 2013
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