Alpha Bank, one of four systemic lenders in Greece, on Tuesday drained 300 million euros from the markets with the issuance of an Additional Tier 1 bond, raising to 3.55 billion euros the amount of capital it has raised over the past three years with bond issues.
The AT1 issue was greeted with high demand by more some 250 international and domestic investors, with the amount offered reaching 2.9 billion euros, oversubscribing the issue by 9.5 times.
The new bond issue, of an indefinite duration, has a recall option at six years, and will be traded on the Luxembourg stock exchange.
The yield reached 7.5%, marking a significant reduction in the spread compared with a previous AT1 issue by Alpha Bank in February 2023 – at 11.875% at the time.
Source: tovima.com
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