Alpha Bank: In the markets with the aim of raising at least 300 million euros

With the aim of raising at least 300 million euros, it goes to the markets the Alpha Bank following an order given to Citi (Sole Structuring Advisor), Barclays, BofA Securities, Citi, JP Morgan and Nomura (Joint Bookrunners). The issue concerns an Additional Tier 1 title and is counted in the funds, while it has the possibility of repurchase in 5.5 years.

The issuance of AT1 comes as a result of the successful implementation of the “Project Tomorrow” Strategic Plan and the improvement of the Bank’s profitability in 2022. As part of its planning to raise capital with the aim of credit expansion, already in 2021, the Bank had also included the issuance of Additional Tier 1 bonds, subject to the achievement of a core capital ratio of at least 13%.

The issue for which the Bank has given an order today is expected to further strengthen its supervisory capital and allows it, through leverage, to further support entrepreneurship and the development of the Greek economy and, of course, the observance of the commitments it has undertaken towards of its shareholders.

Thus, the conditions are created for the optimization of Alpha Bank’s capital structure, according to the standards of other European banks which have exhausted the margins for issuing Additional Tier 1 and Tier 2 bonds. As far as Tier 2 bonds are concerned, the Bank has fully covered the issuance margin of EUR 1 billion with issuances completed in 2019 and 2020. From 2019 to date, Alpha Bank is the most active bank in issuances in the international capital markets for all instruments (equities, senior preferred, Tier 2 and now AT1 ).

During the last three years, the Bank’s total presence, through bond issues, amounts to 2.8 billion euros, while the new issue confirms its strong dynamics of access to the capital markets and achieves the diversified financing profile it achieves. In anticipation of the issue, a series of presentations to interested fixed income investors is being organized from today, 30 January 2023.

RES-EMP

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