Ravenous investors devour T2 debut from Alpha Bank

By David Freitas
06 Feb 2020

Alpha Bank was more than 10 times subscribed on its debut in the tier two market on Thursday, allowing the speculative grade Greek lender to tighten its pricing by up to 100bp and land at an impressive coupon level of 4.25%.

Alpha Bank had been meeting with investor since Tuesday to present its plans to issue a euro-denominated 10 year non-call five tier two — its first subordinated bond offering since the crisis.

Bookrunners CitiGoldman SachsHSBCJP Morgan and NatWest Markets opened books on the deal on Thursday, ...

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