Alpha Bank SME collateralised loan securitisation (EBRD-48770)

Regions
  • Europe and Central Asia
Where the impacts of the investment may be experienced.
Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Dec 14, 2016
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
Alpha Bank Greece
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 52.57 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Currency conversion note:
Bank reported 50
Converted using 2016-12-14 exchange rate.
Loan Amount (USD)
$ 52.57 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Project Cost (USD)
$ 672.87 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please see updated project documentation for more information.
Currency conversion note:
Bank reported 640
Converted using 2016-12-14 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Oct 10, 2018

Disclosed by Bank Dec 21, 2016


Contribute Information
Can you contribute information about this project?
Contact the EWS Team

Project Description

According to EBRD website, the project will support Alpha Bank Greece to access medium-term funding using SME collateralised loan obligation via a securitisation structure. The EBRD funding will be used to expand Alpha's SME loan portfolio. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
  • European Investment Bank (EIB)

EBRD will invest in senior notes, denominated in Euros, and securitized by a portfolio of SME loans originated by Alpha. Alpha will issue approximately US$339 million senior and US$339 million mezzanine/junior notes.

EBRD's investment is US$52.97 million in senior notes.
EIB and Citibank are subscribing to the remaining approximately US$143 million senior notes.
Alpha Bank Greece will be subscribing to the US$339 million mezzanine/junior notes.

Alpha is one of the four systemic banks in Greece. It's assets total US$70.3 billion as of September 2016.

Private Actors

Alpha, one of the four systemic banks in Greece with Group total assets of EUR 66.2 billion as of September 2016, holding approx. 23% of domestic lending market share and c. 21% of domestic deposits market.

Contact Information

Contact information not provided at the time of disclosure.

ACCOUNTABILITY MECHANISM OF EBRD

The Project Complaint Mechanism (PCM) is the independent complaint mechanism and fact-finding body for people who have been or are likely to be adversely affected by an European Bank for Reconstruction and Development (EBRD)-financed project. If you submit a complaint to the PCM, it may assess compliance with EBRD's own policies and procedures to prevent harm to the environment or communities or it may assist you in resolving the problem that led to the complaint through a dialogue with those implementing the project. Additionally, the PCM has the authority to recommend a project be suspended in the event that harm is imminent. You can contact the PCM at pcm@ebrd.com or you can submit a complaint online using an online form, http://www.ebrd.com/eform/pcm/complaint_form?language=en. You can learn more about the PCM and how to file a complaint at http://www.ebrd.com/work-with-us/project-finance/project-complaint-mechanism.html.