Alpha Bank S.A. has launched a tender offer for bonds totaling €450 million, addressed to holders of fixed-rate reset Senior Preferred bonds maturing in 2027.
According to the bank’s announcement, the offer was submitted on 3 February 2026 and concerns the cash purchase of the bonds, under the terms and conditions set out in the related information memorandum of the same date. In Greece, the offer is addressed exclusively to professional clients and eligible counterparties, as defined under MiFID II legislation.
The completion of the tender offer is subject to certain conditions, the most significant being the successful issuance of a new series of fixed-rate reset Senior Preferred bonds. The issuance of the new bonds will depend on market conditions. Alpha Bank reserves the right, during the allocation process, to give priority to investors who participate in—or make a binding commitment to participate in—the tender offer for the existing bonds.
The transaction forms part of the bank’s strategy for managing its liabilities in relation to the Minimum Requirement for Own Funds and Eligible Liabilities (MREL), with the aim of refinancing existing instruments through the issuance of new bonds.
The tender offer managers and joint lead managers of the new bond issuance are Citigroup Global Markets Europe AG, Deutsche Bank Aktiengesellschaft, HSBC Continental Europe, J.P. Morgan SE, UBS Europe SE, and UniCredit Bank GmbH.
The new bonds will be offered exclusively to eligible counterparties and professional investors outside the European Economic Area and the United Kingdom, without a public offering, with a minimum nominal value of €100,000.