Davis Polk advised the managers in connection with a €1.552 billion offering by Alpha Bank A.E. (Alpha Bank) of new ordinary shares.

The offering consisted of a private placement to qualified investors, including to qualified institutional buyers in the United States pursuant to Rule 144A and outside of the United States in reliance on Regulation S of the Securities Act of 1933, as amended. The new ordinary shares have been listed on the Athens Stock Exchange.

The offering was part of Alpha Bank’s €2.563 billion capital raising plan to address regulatory capital requirements, as determined under the adverse scenarios of the 2015 Comprehensive Assessment completed by the European Central Bank. As part of its capital raising plan, Alpha Bank also made offers to holders of certain outstanding senior, subordinated and preferred securities to exchange such securities for cash or new ordinary shares. Pursuant to the exchange offer, €1.011 billion in securities were accepted by Alpha Bank for exchange.

Headquartered in Athens, Greece, Alpha Bank is one of the leading banking and financial services groups in Greece, offering a wide range of services, including retail banking, corporate banking, asset management and private banking, insurance, investment banking, real estate management and brokerage services. Alpha Bank has operations in Greece, its principal market, and in most markets of Southeastern Europe (Albania, Cyprus, FYROM, Romania and Serbia). Alpha Bank also maintains a presence in the United Kingdom and in Jersey.

The Davis Polk corporate team advising as to U.S. and English law included U.S. partner Paul Etienne Kumleben, counsel Connie I. Milonakis, associates Matt Hart and Lauren Obee and U.K. associate Dan Hirschovits. Counsel Alon Gurfinkel and associate Omer Harel provided U.S. tax advice. Members of the Davis Polk team are based in the London and Madrid offices.

Copy link to share post