Alpha Plans $1.2 Billion Debt Swap as Greek Banks Boost Capital
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Alpha Bank AE announced plans for a 1.1 billion euro ($1.2 billion) bond swap, joining Piraeus Bank SA in seeking to pare debt and raise capital following the Greek economy’s near-collapse.
The lender intends to exchange outstanding bonds for cash or shares, it said in a Luxembourg stock exchange statement on Wednesday, which didn’t include the proposed terms. The offer covers 27 senior and subordinated securities denominated in euros and dollars.