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
48% of Greeks say the country benefited from EUmakis - Oct 17, 2017
48% of Greeks believe the country has benefited from the EU in 2017, a 4-point rise compared to 2016, according…
Tsipras-Trump meeting underwaymakis - Oct 17, 2017
The meeting between the US President Donald Trump and the Greek Prime Minister Alexis Tsipras in the White House has…
Mitsotakis’ meeting with Jean Claude Juncker and the Communications Task Forcemakis - Oct 17, 2017
Kyriakos Mitsotakis is set to attend the European People’s Party summit in Brussels. On the 18th and 19th of October…