ATHEX-listed Alpha Bank on Thursday successfully placed a 500-million-euro, Tier 2 bond with 10-year maturity callable after five years at a yield of 4.25 percent, with the listing on the Luxembourg Stock Exchange.
In a press release, Alpha Bank said that after two days of marketing, the transaction received exceptionally strong demand amounting to 5.1 billion euros from more than 340 investors.
Moreover, 92 percent of the issue was placed with international investors, mainly in Europe (43 percent )and the UK (39 percent), followed by Asia (10 percent). Long-term investors led the distribution, with fund managers and insurance companies accounting for more than 60 percent of the allocation.
“Our inaugural Tier II capital transaction is a key milestone in the implementation of our recently communicated strategic plan. The strong demand by a well-diversified international investor base led to this successful outcome, which represents a strong testament to the future of Alpha Bank and to the prospects of the Greek economy,” Alpha Bank CEO Vassilios Psaltis commented afterwards.
