Friday October 31, 2014 Search
Weather | Athens
19o C
12o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
Piraeus and Alpha promoting issues

 Banks encouraged by international interest in plans to cover capital requirements; National set to follow

By Yiannis Papadoyiannis

The Piraeus Group will likely launch its 500-million-euro bond issue on Monday, while bank officials who have been busy promoting the issue at events in London and New York are reporting major investor interest.

International fund administrators reportedly believe that Greece is already on a growth trajectory and are estimating that the next few years could constitute a period of dynamic expansion for the country’s economy. They expect the local credit sector to benefit considerably as a result given that in previous years it had suffered severe pressure.

It appears that foreign investors are not too worried about the risk of political complications or a failure in negotiations between Greece and its creditors, so Piraeus officials are certain the issue will be covered with great success.

They add that international investors are also showing strong interest in the lender’s planned share capital increase, to amount to 1.75 billion euros.

Alpha Bank officials have also been promoting its prospective share capital increase of 1.2 billion euros outside the country. The Alpha mission will spend a total of almost two weeks in cities in Europe, America and Asia, where meetings with institutional investors have been scheduled.

Armed with the bank’s strong fundamental figures – Alpha was found to have the smallest capital needs among the country’s systemic banks – its officials appear particularly optimistic about the project, with the share increase fully guaranteed by its underwriters.

As for National Bank, its administration is working hard to complete the plan for the coverage of its capital requirements. Various alternatives are under examination, such as the issue of bonds and the sale of subsidiaries, holdings and other assets, while the final structure of National’s plan will also depend on the deadline it is given to amass the necessary capital.

Along with the announcement of its 2013 financial results, scheduled for Thursday, March 20, the bank will also present preliminary details regarding its plans and priorities for covering its capital needs.

ekathimerini.com , Friday March 14, 2014 (22:20)  
Power rates soared 60 pct in six years
NBG chairman sees risks to recovery
Greek consumers shift toward money saving
IMF could offer know-how in backup plan for Greece
A year after GD members shot dead, police have no leads
A year after two members of neofascist Golden Dawn were shot dead outside the party’s offices in Neo Iraklio, north of Athens, police sources admitted that they have no leads to the killers....
No new Manolada trial, court rules
The Supreme Court has decided that four men who stood trial earlier this year for shooting 28 migrant workers at a strawberry farm in Nea Manolada in the Peloponnese should not be retried. S...
Inside News
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
SOCCER
Berg returns to add spice to Panathinaikos´s Cup win
The second round of games for the group stage of the Greek Cup produced plenty of interesting games and results in midweek, but it still lags the upset potential that the knock-out stages of...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
COMMENTARY
Time is running out in Afghanistan
Thirteen years after the attacks on the Twin Towers and NATO's entry into the war in Afghanistan, things remain pretty much unchanged: Political instability and insecurity  reign in the Cent...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Obradovic watches Greens thrash his Fenerbahce
2. Berg returns to add spice to Panathinaikos´s Cup win
3. Power rates soared 60 pct in six years
4. NBG chairman sees risks to recovery
5. Greek consumers shift toward money saving
6. IMF could offer know-how in backup plan for Greece
more news
Today
This Week
1. Greek euro dilemma is back as minister predicts volatility
2. Students hijack university senate meeting
3. Clientelism belongs to the past, says Mitsotakis
4. European stocks tumble as banks decline after Enria’s comments
5. Over 1,500 buildings and vehicles damaged in flash floods
6. Civil servants to be investigated for transferring money abroad
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.