NBG raised EUR 500mn through the issuance of a 7NC6 senior preferred bond

Macro/Political:

• Greece’s final 2026 budget plan, presented by Finance Minister Kyriakos Pierrakakis, projects economic growth of 2.4% next year. The government expects a primary surplus of 3.7% of GDP in 2025 and 2.8% in 2026. The country’s debt-to-GDP ratio is forecast to decline from 145.9% in 2025 to 138.2% in 2026, continuing on a downward path toward 119% by 2029. Inflation for 2026 is projected at 2.2%.
  

• The Overall Turnover Index in Industry (both Domestic and Non-Domestic Market) in September 2025 recorded an increase of 13,4% (y-o-y) an of 24.1% (m-o-m).
  Source: Elstat

Markets:

• NBG raised EUR 500mn through the issuance of a 7NC6 senior preferred bond. Final orders’ book closed above 1.45bn.
  Source: Bloomberg

Macro/Political:

• Fitch’s credit rating review of the Cypriot economy is scheduled to be released today. The Agency currently holds Cyprus at A-, stable outlook.
  

• Moody’s credit rating review of the Cypriot economy is scheduled to be released today. The Agency currently holds Cyprus at A3, stable outlook