Greek Bank Slashes AT1 Cost as It Rides Post-Upgrade Rally [BNN Bloomberg (Canada)]
ALPHA SVCS & HLDGS S/ADR (ALBKY)
NASDAQ:AMEX Investor Relations:
alpha.gr/page/default.asp?la=2&id=52
Company Research
Source: BNN Bloomberg
Alpha Services and Holdings SA, the holding company of Alpha Bank SA, is looking to raise €300 million ($332 million) of Additional Tier 1 bonds on Tuesday, with initial price talk pointing to a coupon of about 8%, according to a person familiar with the matter who asked not to be identified. This level, which could drop if investor demand is strong, is already nearly 4 percentage points below the level at which the Athens-based bank raised AT1 capital in early 2023. A deal at around this level will signal a further normalization in money-raising conditions for banks in Greece. Formerly a poster child of the euro area debt crisis, the country regained its investment-grade status last year after more than a decade. It also reflects an ongoing rally in the junior debt, coming alongside an issue-plus-buyback operation by Bank of Ireland Group Plc and hot on the heels of a sale by Dutch ABN Amro Bank NV, which carried the smallest coupon among euro-denominated issues this year. “The
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News
- Greece Aims to Slash Debt to Lowest Since 2009 Within Four Years [BNN Bloomberg (Canada)]BNN Bloomberg
- AT1 Bond Sales Hit Weekly Record Ahead of Central Bank Rate Cuts [Yahoo! Finance]Yahoo! Finance
- AT1 Bond Sales Hit Weekly Record Ahead of Central Bank Rate Cuts [BNN Bloomberg (Canada)]BNN Bloomberg
- Alpha Services and Holdings S.A. (ALBKY) Q2 2024 Earnings Call Transcript [Seeking Alpha]Seeking Alpha
- Questor: Forget what you know, Greek banks are back [Yahoo! Finance]Yahoo! Finance