The successful completion of the synthetic securitization of a portfolio of serviced small, medium and large business loans amounting to EUR 0.65 billion was announced by Alpha Services and Holdings, with the European Investment Bank Group, which consists of the European Investment Bank and the European Investment Fund, as part of the Pan-European Guarantee Fund (EGF).
The transaction gives the bank protection against first loss tranche credit risk.
The transaction is part of the Bank’s Strategic Plan “Project Tomorrow” and is expected to contribute approximately 13 basis points to the Total Capital Adequacy Ratio on a consolidated basis. The transaction is subject to all required regulatory approvals.
The successful completion of the Transaction for Project Tokyo validates Alpha Bank’s strategy for utilizing alternative sources of capital support, contributing to the financing of new investments and supporting the development of the Greek economy.
Citi acted as lead financial advisor and Clifford Chance acted as international law advisor on the transaction.
Source: Capital
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