EFG Eurobank Ergasias is proceeding with a new securitization of part of its residential first line mortgage portfolio.
EFG Eurobank Ergasias is proceeding with a new securitization of part of its residential first line mortgage portfolio.
The Lead Managers for this transaction are Citigroup, Morgan Stanley and EFG Telesis Finance. Roadshows to foreign institutional investors are scheduled for the week of May 30th.
The proceeds of the new securitization will be used to finance part of the funding program of the Bank. Of the €750 million issue, €690 million is rated AAA, €37.5 million is rated A and €22.5 is rated BBB, by S&P, Moody’s and Fitch. Placement is expected to be completed by June 6-10.
The previous securitization of EFG Eurobank’s residential loans (€750 million) was well received by foreign institutional investors, which was confirmed by the substantial oversubscription of the issue.