Hammerson and CPPIB have agreed to sell the shopping centre to entities affiliated with Henderson Park and Eurofund.

The transaction is capital accretive for NBG and is expected to increase the proforma CET1 and Total Capital Ratio of the Bank by c.60bps as of 30.09.2021.

Their favorable estimates for Alpha Bank are based on the decisive steps taken by the bank’s management with a strategic goal of a return on equity of 10% by the end of 2023.

The total budget of the project amounts to € 3 million including VAT.

The selected contractor will be announced within February 2022.

The combined bank, in which Eurobank holds 70%, with a strong capital and liquidity position and a market share of 6.5% in customer loans, becomes the seventh largest in Serbia.

The final yield of the Bonds was set at 2.30% and the Bonds’ interest rate at 2.30% per annum.

The hotel was sold to BELTERRA INVESTMENTS, a compant of Ivan Savvidis, a year and a half ago (April 2020) for € 205 million.

The bond is listed on the Luxembourg Stock Exchange – EuroMTF Market.