Alpha Bank raises over $500m in shipping securitisation deal

Alpha Bank has raised over $500m after completing a shipping securitisation transaction arranged with Citi.

Alpha Bank says this is the first securitisation transaction from a Greek bank placed with investors since 2008 and simultaneously one of the very few shipping transactions globally.

The transaction provides Alpha Bank with access to term dollar funding for one of its core businesses while it diversifies and enhances the liquidity position of the group.

Managing director – chief executive Demetrios P. Mantzounis said: “The successful completion of this financing transaction with a top international financial organisation demonstrates the confidence in the market for Alpha Bank and its shipping Clientele.”
Source: StockmarketWire