Alpha Bank successfully issued a 500 million euros Reg S, Soft Bullet covered bond, with a five-year tenor and 2.75 pct yield to maturity as part of its eight-billion-euro direct issuance Covered Bond Programme I.
The bond is listed on the Luxembourg Stock Exchange and is rated B3 by Moody’s and B by Fitch. The transaction attracted strong investor interest following a successful roadshow in London, Frankfurt and Milan. The Order Book was almost five times over-subscribed, with the vast majority of the issuance being covered by international institutional investors (93 pct). Barclays, Citi, Commerzbank, JP Morgan and NatWest Markets acted as Joint Lead Managers for the transaction.
The Managing Director – CEO of Alpha Bank, Demetrios P. Mantzounis commented: “The success of the covered bond issuance further strengthens Alpha Bank’s presence in the international capital markets, demonstrating once again its ability to support such transactions. Furthermore, it contributes significantly to the implementation of the Bank’s business goal for funding diversification and it accelerates its disengagement from the Emergency Liquidity Assistance”.