Alpha Bank raises USD 250 million with the successful completion
of its second Shipping Securitisation transaction
Alpha Bank has successfully completed its second financing transaction of USD 250
million through shipping securitisation with Citi, following the inaugural shipping
securitisation issuance of USD 500 million in 2014.
The transaction, which further enhances and diversifies the liquidity position of the
Bank, is a non-recourse 4-year term dollar funding with a unique structure and one of
the very few shipping securitisation transactions globally.
As the only shipping securitisation transaction placed by a Greek bank, it reflects the
confidence of the market in Alpha Bank and its shipping clientele and proves the ability
of both counterparties to design and execute complex transactions.
The Managing Director – CEO of Alpha Bank, Mr. Demetrios P. Mantzounis
commented: “The successful completion of this new financing transaction with a top
international financial organisation demonstrates once more the Bank’s ability to
diligently support such transactions and contributes significantly to the implementation
of Alpha Bank’s business goal for funding diversification by utilising all its assets
efficiently”.
Citi’s EMEA Head of Markets and Securities Services, Mr. Leonardo Arduini,
commented: "The transaction underlines Citi's strong and continued commitment to
working with Alpha Bank and key industry partners in developing and delivering
innovative market solutions to the shipping industry".
Athens, October 19, 2017
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