Eurobank EFG on Monday announced the successful completion of the first state bond financing transaction from interbank markets.

The bank said it has borrowed 300 million euros for two-years from a non-Greek investment bank using government bonds as collateral, at very competitive terms: an interbank interest rate (Euribor) plus a spread of less than 200 basis points.

Eurobank has reached several refinancing deals using international bonds as collateral, raising more than 500 million euros from international interbank markets.

The bank said this transaction was the first in interbank markets since the outburst of the fiscal crisis and Greece’s entry into an IMF/EU support mechanism. It also said that its successful completion reflected both progress in the country’s fiscal condition and Eurobank’s strong capital base.