Alpha mandates leads for soft bullet covered bond

Alpha Bank Oxi PA 230x150
By Bill Thornhill
19 Jan 2018

Alpha Bank has mandated leads for the third publicly syndicated Greek covered bond in three months. But in contrast to the first two deals, it has chosen a longer maturity with a soft bullet structure, instead of a conditional pass through.

Alpha Bank, which is rated Caa3/CCC+ with Moody’s and Standard & Poor’s, has mandated Barclays, Citi, Commerzbank, JP Morgan and  Natwest Markets to organise a roadshow across Europe starting on January 22.

The issuer is “contemplating a covered bond,” according to ...

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