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Alpha Bank announces 500 million euro bond buyback and new issuance
Alpha Bank has announced a plan to repurchase 500 million euros of its fixed-rate reset Senior Preferred euro-denominated bonds that are set to mature in 2028. The bank has invited bondholders to submit their holdings for a cash buyback.
This repurchase is intended to be refinanced through the issuance of a new series of Senior Preferred bonds. The transaction is part of the bank's strategy to manage its bond obligations and comply with the Minimum Requirement for Own Funds and Eligible Liabilities (MREL).
The successful completion of the buyback is contingent upon the successful issuance of the new bonds and prevailing market conditions. In the Greek market, the offer is restricted to professional clients and eligible counterparties. Several financial institutions, including HSBC Continental Europe, J.P. Morgan SE, Morgan Stanley Europe SE, Société Générale, UBS Europe SE, and UniCredit Bank GmbH, are acting as joint lead managers for the proposal.
Entities
Alpha Bank · HSBC Continental Europe · J. P. Morgan SE · Morgan Stanley Europe SE · Société Générale
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 3 SOURCES] The total value of the bond buyback offer is 500 million euros. www.insider.gr · www.capital.gr · www.sofokleousin.gr
- [● 3 SOURCES] The buyback is intended to be refinanced through a new issuance of Senior Preferred bonds. www.insider.gr · www.capital.gr · www.sofokleousin.gr
- [● 3 SOURCES] The buyback is subject to the successful completion of the new bond issuance. www.insider.gr · www.capital.gr · www.sofokleousin.gr
- [● 3 SOURCES] Alpha Bank has issued an invitation to holders of its fixed-rate reset Senior Preferred euro-denominated bonds maturing in 2028. www.insider.gr · www.capital.gr · www.sofokleousin.gr
- [● 3 SOURCES] The transaction is part of the bank's management of its Minimum Requirement for Own Funds and Eligible Liabilities (MREL). www.insider.gr · www.capital.gr · www.sofokleousin.gr
- [● 2 SOURCES] In Greece, the offer is addressed exclusively to professional clients and eligible counterparties. www.insider.gr · www.capital.gr