May 14, 2019 / 8:51 AM / 5 months ago

REFILE-ANNOUNCEMENT-Alpha Bank's Romanian unit issues 200 mln euro covered bond

(Refiles to add topic code) Alpha Bank’s subsidiary in Romania has successfully completed its inaugural Euro 200 million covered bond issue, as part of its recently established Euro 1 billion direct issuance Global Covered Bond Programme. This is the first ever covered bond issue from a Romanian bank and marks a milestone for both Alpha Bank Romania and the Romanian Capital Markets. The issued covered bond, has a 5-year tenor, pays a floating rate coupon, and is backed by prime Romanian residential mortgages.

The transaction attracted strong investor interest from both local and international institutional investors including the IFC and the EBRD. The transaction was managed by Barclays acting as Lead Manager and Alpha Finance Romania as Co-Manager. The bond will be listed both on the Luxembourg and the Bucharest Stock Exchanges and is rated by Moody’s (P)Baa2.

The Executive President of Alpha Bank Romania and Member of the Group Executive Committee, Mr. Sergiu Oprescu, said: “Almost 18 years after the launch of the first ever mortgage loan in 2001, Alpha Bank Romania is opening a new chapter in the Romanian banking market with this new funding tool, demonstrating once again its pioneering capabilities.” The Group CEO of Alpha Bank, Mr. Vassilios Psaltis, commented: “The success of the first ever covered bond issuance in Romania, enhances the liquidity position of our Subsidiary and contributes to its business goal of funding diversification, taking advantage of the strong potential of the Romanian economy.”

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