Alpha Bank successfully completed the issuance of Euro 500 million senior preferred bond

• The issue received strong demand amounting to Euro 1.3 billion, exceeding by 3 times the initial target of Euro 400 million

• More than 130 investors

• Coupon stands at 6.875% and yield at 7%, significantly lower than initial estimate

Following four highly successful Senior Preferred Bond issuances in 2021 and 2022 amounting to EUR 1.7 billion in total, Alpha Bank has concluded yesterday the pricing of a further Euro 500 million Senior Preferred Bond issuance. The Senior Preferred Bond has a 6-year maturity and is callable in year 5, with a coupon of 6.875% and a yield of 7%.

The issuance attracted high interest from the investment community, exceeding the initial target of Euro 400 million while total bids reached Euro 1.3 billion, 3 times higher than the initial target, and a yield of 7%, lower than initial guidance. The Senior Preferred Bond attracted strong demand from more than 130 investors, with its majority being placed with asset management funds (56%), banks and wealth management firms (combined 36%). It is worth noting that three quarters of the issue were placed outside Greece, confirming once again the trust of foreign investors in the prospects of Alpha Bank and the outlook of the Greek economy, in view of its re-rating to investment grade status.

This performance constitutes another vote of confidence in Alpha Bank's new Strategic Plan 2023-2025, which was presented at its Investor Day event on June 7, demonstrating its operational readiness and determination to capitalize on its leading position in the Greek market and its firm commitment to creating value for its Shareholders and empowering sustainable growth.

Taking advantage of the positive dynamics prevailing in capital markets, Alpha Bank has frontloaded its MREL issuance, creating sufficient buffers in alignment with its targets whilst remaining active in the primary markets.

Alpha Bank’s General Manager and Group CFO, Lazaros Papagaryfallou, stated: “The transaction is a testament to Alpha Bank's market acumen and unequivocal commitment to expand and diversify its funding base whilst ensuring a progressive build-up of its capital stack to ensure an accelerated compliance with regulatory expectations. It shows Alpha Bank's continuing implementation of its strategic and funding plan.”

Goldman Sachs Bank Europe SE, IMI-Intesa Sanpaolo, Morgan Stanley Europe SE, Nomura and UBS Europe SE acted as joint bookrunners