Alpha Bank Tier 2 bonds (EBRD-51547)

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
Feb 19, 2020
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 Type(s)
Loan
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 16.21 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Loan Amount (USD)
$ 16.21 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 15
Converted using 2020-02-19 exchange rate.
Project Cost (USD)
$ 540.49 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 2020-02-19 exchange rate.
Primary Source

Original disclosure @ EBRD website

Updated in EWS Apr 23, 2020

Disclosed by Bank Feb 19, 2020


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Project Description

According to EBRD website, the project aims to boost the resilience of a systemic bank in Greece in the context of on-going restructuring and MREL requirements phasing in at EU level and supports the bank in implementing its recently announced strategic transformation plan and re-establishing its regular access to capital markets with unsecured instruments. 

Investment Description
  • European Bank for Reconstruction and Development (EBRD)
Financial Intermediary
A financial intermediary is a commercial bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds.
Private Actors
Private Actors Description

Alpha Bank is the second largest lender in Greece with a loan market share of 24% as of end-September 2019. It is listed on the Athens Stock Exchange with current market capitalisation of EUR 2.8 billion. The Hellenic Financial Stability Fund is the largest shareholder with an 11% stake, with the remaining 89% held by more than 110,000 investors. Alpha Bank is rated B (Positive) by S&P, Caa1 (Positive) by Moody's and CCC+ by Fitch. 

Contact Information

Ioannis Asimelis
ioannis.asimelis@alpha.gr
+302103264118
+302103268309
www.alpha.gr
40 Stadiou Str., Athens, 102-52, 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.