ECONOMY

Bids for Alpha bond top €875 million

Bids for Alpha bond top €875 million

Alpha Bank has raised 450 million euros from a fixed-rate senior preferred bond.

The yield of the bond, which has a four-and-a-half-year duration and is callable after three and a half years, was set at 7.75%.

It pays a coupon of 7.5%.

Bids topped €875 million, meaning the issue was oversubscribed almost twice.

Alpha has said that proceeds will cover the bank’s so-called MREL (minimum required eligible liabilities) regulatory capital requirements up to January 2026.

BNP Paribas, Deutsche Bank, Goldman Sachs and Morgan Stanley were joint bookrunners. [Reuters]

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