ECONOMY

Alpha Bank raises €500 mln through Tier-2 bond issue

alpha-bank-raises-e500-mln-through-tier-2-bond-issue

Alpha Bank, one of Greece’s four big lenders, raised 500 million euros from a subordinated Tier-2 bond issue on Thursday. The yield on the 10-year paper was set at 5.5%, Alpha Bank said in a bourse filing.

The issue, which was twice oversubscribed, came about a week after the bank sold a €10.8 billion portfolio of impaired loans and 80% of its loan services provider Cepal Holdings to US fund Davidson Kempner. Citi, Goldman Sachs, JP Morgan, Nomura and Barclays acted as joint lead managers. (Reuters)