# Alpha Bank corporate restructuring and financial management > Live situation record from CLSTR: https://clstr.news/situations/alpha-bank-corporate-restructuring-and-financial-management > Updated: 2026-09-21T06:00:12.000Z. Sources: 12. Developments: 3. In August 2026, Alpha Bank finalized its acquisition of Alpha Trust Holdings, achieving 100% ownership and voting rights through a squeeze-out procedure. The bank acquired the remaining 69,324 ordinary shares at €20.20 per share in accordance with Greek Law. By September 2026, the bank focused on managing its bond obligations. On September 18, Alpha Bank announced a plan to repurchase €500 million of its fixed-rate reset Senior Preferred euro-denominated bonds maturing in 2028. This buyback was intended to be refinanced through a new series of Senior Preferred bonds to ensure compliance with the Minimum Requirement for Own Funds and Eligible Liabilities (MREL). On September 21, the bank successfully completed a €700 million Senior Preferred Bond issuance. The offering attracted significant international interest, with an order book exceeding €2.9 billion from more than 110 institutional investors. The bonds were priced with a spread of 85 basis points against the mid-swap, representing the lowest spread the bank has achieved for a similar issuance. The debt instruments carry a 4.5-year maturity with an early redemption option after 3.5 years. International demand was high, with 79% of the issuance allocated to foreign investors, primarily from the United Kingdom, Germany, Switzerland, France, Belgium, and the Netherlands. The transaction marked the largest order book for a Greek bank issuance since the outbreak of the war in the Middle East. As part of this broader funding and liability management strategy, the bank also launched a voluntary tender offer for €500 million of its existing Senior Preferred notes due in 2028, allowing investors to transition their positions into the newly issued notes. The transaction was supported by joint bookrunners including AXIA, HSBC, J.P. Morgan, Morgan Stanley, Société Générale, UBS, and UniCredit. ## Claims - Alpha Bank has issued an invitation to holders of its fixed-rate reset Senior Preferred euro-denominated bonds maturing in 2028. (corroborated by 3 sources) - The total value of the bond buyback offer is 500 million euros. (corroborated by 3 sources) - The buyback is intended to be refinanced through a new issuance of Senior Preferred bonds. (corroborated by 3 sources) - The transaction is part of the bank's management of its Minimum Requirement for Own Funds and Eligible Liabilities (MREL). (corroborated by 3 sources) - The buyback is subject to the successful completion of the new bond issuance. (corroborated by 3 sources) - Alpha Bank completed a €700 million Senior Preferred Bond issuance. (corroborated by 3 sources) - The bond issuance received offers exceeding €2.9 billion. (corroborated by 3 sources) - The bonds were priced with a spread of 85 basis points against the mid-swap. (corroborated by 3 sources) - The bonds have a 4.5-year maturity with an option for early redemption after 3.5 years. (corroborated by 3 sources) - More than 110 institutional investors participated in the negotiation. (corroborated by 3 sources) - 79% of the issuance was allocated to international investors. (corroborated by 3 sources) - This is the third Senior Preferred Bond pricing for Alpha Bank in the last year. (corroborated by 3 sources) ## Timeline ### 2026-09-21: Alpha Bank raises €700 million through successful bond issuance Alpha Bank raised €700 million through a Senior Preferred bond issue, attracting over €2.9 billion in demand and marking its lowest-ever spread for such an issuance. 8 sources. https://clstr.news/cluster/alpha-bank-completes-700-million-senior-preferred-bond-issuance ### 2026-09-18: Alpha Bank announces 500 million euro bond buyback and new issuance Alpha Bank is launching a 500 million euro buyback of its 2028 Senior Preferred bonds, aiming to refinance them through a new issuance to manage its MREL requirements. 7 sources. https://clstr.news/cluster/alpha-bank-announces-500-million-euro-bond-buyback-and-new-issuance ### 2026-08-24: Alpha Bank completes full acquisition of Alpha Trust Holdings Alpha Bank has achieved 100% ownership of Alpha Trust Holdings following the completion of a squeeze-out procedure on August 24, acquiring the remaining shares at €20.20 each. 2 sources. https://clstr.news/cluster/alpha-bank-completes-full-acquisition-of-alpha-trust-holdings --- Cite as: Alpha Bank corporate restructuring and financial management. CLSTR, https://clstr.news/situations/alpha-bank-corporate-restructuring-and-financial-management