Chicago, July 26 – Alpha Bank SA completed a €500 million issue fixed-rate reset senior preferred notes due 2029 (Ba3/BB-), according to a term sheet.
The initial interest rate will be 6 7/8%. The rate resets with a 379.3 basis points margin over six-month mid-swaps starting June 27, 2028.
The notes priced at 99.487 for a 7% yield.
There is an optional redemption option on June 27, 2028.
Goldman Sachs Bank Europe SE, Intesa Sanpaolo SpA, Morgan Stanley Europe SE, Nomura Financial Products Europe GmbH and UBS Europe SE were the bookrunners on the Regulation S issue.
The company reported that more than 130 investors participated with demand for the bonds reaching €1.3 billion.
Proceeds will be used by the issuer for general corporate and financing purposes of the group.
Alpha Bank is based in Athens.
| Issuer: | Alpha Bank SA
|
| Amount: | €500 million
|
| Issue: | Fixed-rate reset senior preferred notes
|
| Maturity: | June 27, 2029
|
| Bookrunners: | Goldman Sachs Bank Europe SE, Intesa Sanpaolo SpA, Morgan Stanley Europe SE, Nomura Financial Products Europe GmbH and UBS Europe SE
|
| Coupon: | 6 7/8% initial rate; resets to six-month mid-swaps plus 379.3 bps starting June 27, 2028
|
| Price: | 99.487
|
| Yield: | 7%
|
| Call features: | Callable at par on June 27, 2028
|
| Trade date: | June 21
|
| Settlement date: | June 27
|
| Ratings: | Moody’s: Ba3
|
| S&P: BB-
|
| Distribution: | Regulation S
|
| ISIN: | XS2640904319
|
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