Another successful exit to the international financial markets was completed by Alpha Bank, attracting offers that exceeded €2.9 billion and strong investor interest, in the largest order book for an issuance by a Greek bank since the outbreak of the war in the Middle East, as the bank emphasizes in its announcement.
The new senior preferred bonds totaling €700 million were priced at a margin of 85 basis points over the corresponding mid-swap, which is the lowest spread Alpha Bank has ever achieved in a corresponding issuance.
The new bonds have a 4.5-year maturity, with the option of early redemption after 3.5 years, and are part of Alpha Bank's broader funding plan, further strengthening the bank's presence in the international financial markets and its funding flexibility.
More than 110 institutional investors participated in the negotiation of the bond terms, while 79% of the issuance was allocated to foreign investors, mainly from the United Kingdom (33%), Germany and Switzerland (13%), France (12%), as well as Belgium and the Netherlands (10%).
The strong participation of the international investment community and the high level of demand reflect investors' continued confidence in Alpha Bank's credit profile and strategy, the announcement stresses.
This pricing is part of the bank's broader funding plan and strengthens its continuous and active presence in the international debt markets. This is Alpha Bank's third pricing of senior preferred bonds in the past year.
The issuance was coordinated by the following Joint Bookrunners: AXIA, HSBC, JP Morgan, Morgan Stanley, Société Générale, UBS and UniCredit.
Alpha Bank's Chief of Global Markets and Group Treasurer, Katerina Marmara, stated: “The transaction highlights Alpha Bank's ability to capitalize swiftly and consistently on the opportunities presented by the markets, even in an environment of increased volatility. The strong demand and the significant improvement in the pricing of new bonds confirm the quality of our investor base and further strengthen Alpha Bank's position in the international capital markets, constituting an important element of our long-term strategy”.