We are proud that we have advised Alpha Bank on its successful tender offer for its €400million Senior Preferred Notes due 2024 (the “Called Notes”) combined with the issuance of €450million New Non-call 5 Senior Preferred Notes under Alpha Bank’s €15billion EMTN Program (the “New Notes”).
The tender offer was addressed to holders of the Called Notes, who were given priority allocation, giving them the opportunity to retain their investment and confidence in Alpha Bank.
This innovative transaction, as it was the first tender offer launched by a Greek Bank coupled with a new issuance of new notes over the past 7 years, allowed Alpha Bank to proactively refinance its €400million Called Notes along with the issue of the New Notes in managing its Minimum Required Eligible Liabilities position.
Alpha Bank, BNP Paribas, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE acted as Dealer Managers of the Tender Offer and BNP Paribas, Deutsche Bank Aktiengesellschaft, Goldman Sachs Bank Europe SE and Morgan Stanley Europe SE acted as Joint Bookrunners and Alpha Bank S.A. as Co-Manager for the New Notes.
Our Capital Markets Team led by Nikos Salakas and managed by Ioannis Kaptanis, and our Tax Team led by George Naskaris advised Alpha Bank on the transaction.
