Alpha opens book, next up is Eurobank
Alpha Bank began its book building on Wednesday, aiming to draw 1.66 billion euros from private investors, while Eurobank will likely follow suit on Thursday and National is expected to open its book by Friday. Piraeus’s share capital increase process started on November 4.
National announced it has received a positive response to its swap program from holders of 600 million euros in bonds, which means it will have to draw more than 1 billion euros from investors.
Although there is optimism about the success of the capital increases, all eyes are fixed on the course of negotiations between the government and the country’s creditors in the hope that all outstanding issues will be settled by the end of the week for Monday’s Eurogroup to approve the disbursement of the bailout subtranche of 2 billion euros and the recapitalization loan of 10 billion euros. If problems arise during the talks, there is a genuine risk of serious complications as far as private investor participation is concerned.
Alpha officials told Kathimerini that the lender’s strong results serve as a solid base for the successful completion of the effort to cover the capital requirements as dictated by the stress test.
You may be interested
The “Game of Thrones” Peloponnese-style!Panos - Jun 27, 2017
Eight must-see castles in the most underrated Greek destination METHONI, MESSINIA One of Greece’s most impressive castles, Methoni Castle, was…
Wicklow teen who drowned in Crete named locally as Laura DempseyPanos - Jun 27, 2017
An Irish schoolgirl who drowned in a swimming pool in Crete has been named locally as Laura Dempsey. The 15-year-old…
Greece responds harshly to irredentist claims by AlbaniaPanos - Jun 27, 2017
The Greek Foreign Ministry issued a harsh statement condemning the actions of Albanian authorities to showcase rocks from neighbouring countries…