Orderbooks for National Bank’s new 10.25-year Tier 2 bond have exceeded 1.4 billion euros, with the coupon falling to 8%, from initial guidance of 8.375%, according to press reports. 

NBG is expected to draw 500 million euros from the issue. 

The bond is callable at 5.25 years. 

The lender has hired Barclays, Citi, Goldman Sachs, Morgan Stanley, Nomura and Societe Generale to manage the issue.