ECONOMY

Alpha offers to buy bonds back from investors

Alpha Bank offered on Friday to buy back subordinated and hybrid bonds with a nominal value of 317 million euros at discounted prices.

Alpha offered to buy back from investors five series of securities, it said in a regulatory filing.

It offered to buy the securities in cash at a price ranging from 35 percent to 55 percent of their nominal value.

The offer expires on May 9.

J.P. Morgan will act as deal manager.

“The offers are part of a range of proposals to strengthen the core tier 1 capital base of the bank,” Alpha said.

[Reuters]