Alpha Bank AE: covered bonds investment (EBRD-49725)

Countries
  • Greece
Where the impacts of the investment may be experienced.
Financial Institutions
  • European Bank for Reconstruction and Development (EBRD)
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 13, 2017
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 AE
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 Amount (USD)
$ 49.47 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 40
Converted using 2018-02-05 exchange rate.
Project Cost (USD)
$ 618.31 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 500
Converted using 2018-02-05 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Mar 1, 2018

Disclosed by Bank Feb 5, 2018


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Project Description

This project subscribes to bonds issued by Alpha Bank, the proceeds of which will be used to contribute to the normalization of the Bank's liquidity position.

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

The EBRD subscribed EUR 40 million to the EUR 500 million covered bond issued by Alpha Bank A.E. ("Alpha") under its EUR 8 billion Direct Issuance Covered Bond Programme I. The covered bond has a soft bullet structure with a maturity of five years and marks Alpha's first public covered bond issuance.

Private Actors

Alpha is one of the four systemic banks in Greece with its shares listed in the Athens Stock Exhange. It offers a wide range of high-quality financial products and services, including retail banking, SMEs and corporate banking, asset management and private banking, the distribution of insurance roducts, investment banking, brokerage and real estate management.

Contact Information

Ioannis Asimelis
ioannis.asimelis@alpha.gr
+30 210 326 4118
+30 210 326 8309
www.alpha.gr
40 Stadiou Str., 102 52 Athens, Greece

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.