Alpha Bank raises over $500 million via shipping loan deal

Greece’s Alpha Bank raised more than $500 million from a transaction backed by shipping loans, it confirmed on Thursday, one of the first of its kind by a Greek bank since 2008.

Reuters reported in November that Alpha Bank, Greece’s fourth-largest bank, was to raise about $510 million by bundling together shipping loans.

The fundraising, arranged by Citigroup, has a five-year maturity.