BUSINESS

Alpha announces securitization of shipping loans

TAGS: Banking, Shipping

Alpha Bank announced on Thursday it has successfully completed its second financing transaction of $250 million through shipping securitization with Citi, following the inaugural shipping securitization issuance of $500 million in 2014.

The transaction, which enhances and diversifies the bank’s liquidity position, is a non-recourse four-year term dollar funding with a unique structure and one of the very few shipping securitization transactions globally.

Alpha’s Managing Director – CEO Dimitris Mantzounis said that “the successful completion of this new financing transaction with a top international financial organization demonstrates once more the bank’s ability to diligently support such transactions and contributes significantly to the implementation of Alpha Bank’s business goal for funding diversification by utilizing all its assets efficiently”.

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