Translated version of this PSD: Greek
The EBRD subscribed EUR 40 million to the EUR 500 million covered bond issued by Alpha Bank A.E. ("Alpha") under its EUR 8 billion Direct Issuance Covered Bond Programme I. The covered bond has a soft bullet structure with a maturity of five years and marks Alpha's first public covered bond issuance.
The bond proceeds will be used to reduce Alpha's dependence on Eurosystem's Emergency Liquidity Assistance funding; thus, contributing towards the normalisation of its liquidity position.
The project will enable Alpha to access medium-term funding, diversify its funding sources and reduce its dependence on Eurosystem funding in order to address the balance sheet missmatches.
In addition, supports the Alpha's efforts to create a benchmark pricing curve for its debt instruments.
ALPHA BANK AE
Alpha is one of the four systemic banks in Greece with its shares listed in the Athens Stock Exhange.
It offers a wide range of high-quality financial products and services, including retail banking, SMEs and corporate banking, asset management and private banking, the distribution of insurance roducts, investment banking, brokerage and real estate management.
EBRD Finance Summary
EUR 100 million envelope for EBRD's investments in covered bonds issued under EUR 8 billion irect Issuance Covered Bond Programme I. The investment in the five-year benchmark covered bond issued by Alpha in January 2018 was made in the amount of EUR 40 million.
Total Project Cost
EUR 500 million under its EUR 8 billion Direct Issuance Covered Bond Programme I.
Environmental and Social Summary
Categorised FI (2014 ESP): Under the existing exposure, Alpha is in compliance with the EBRD's Performance Requirements 2, 4, and 9 and will be required to continue to comply with the EBRD's Performance Requirements 2, 4 and 9, implement the EBRD's E&S Risk Management Procedures Mortgage Lending and submit Annual Environmental and Social Reports to the EBRD.
Company Contact Information
For business opportunities or procurement, contact the client company.
EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
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Text of the PIP