Cyprus Mail
Business

Greece’s Alpha Bank to securitise 1 bln eur of shipping loans

Alpha Bank, one of the four systemic Greek banks

Greece’s fourth-largest lender Alpha Bank plans to securitise about 1.0 billion euros ($1.36 billion) of shipping portfolio loans this summer, expecting to raise about 500 million euros, banking sources told Reuters on Friday.

The transaction will be mainly arranged by Citigroup, one source familiar with the deal said. Citi declined to comment.

“We are working on a plan to securitise about 1 billion euros worth of shipping portfolio loans, aiming to conclude the deal in the summer,” a senior Alpha banker said, declining to be named.

“The securitisation will get us funding of about 500 million euros. The bonds will have a five-year maturity and will be privately placed,” the banker added.


Related posts

Boeing CEO says he expects to resume 737 MAX production before mid-year

Reuters News Service

Peruvian indigenous group wins suit to block oil exploration in Amazonian region

Reuters News Service

Conservationists try to save underfed lions in Sudanese wildlife park

Reuters News Service

Prosecutor paints former Hollywood mogul Weinstein as ‘a rapist’

Reuters News Service

Heightened global alarm over virus, WHO to decide whether to declare global health emergency (Update 3)

Reuters News Service

Lowry painting sells for £2.6 million after 70-year ownership

Press Association

1 comment

Comments are closed.