Alpha Bank debut T2 sets tone for Greek chorus
Greek banks looking to bring new bonds will do well to follow Alpha Bank’s example, when on Thursday it sold its inaugural tier two bond. Backed by thorough investor work and supportive market conditions, the Greek lender’s new bond exceeded yield and demand expectations.
The Caa2/CCC/— rated bond, which is the lowest-rated bond from a financial institution issued so far this year, was launched at a yield of 4.25% on Thursday morning.Financial institutions have enjoyed stellar primary market conditions in recent months, but the €5.5bn of demand for Alpha’s bond, as ...
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