Alpha Bank announced on Thursday it has successfully finished its second financing transaction of $250 million through shipping securitization with Citi, following the inaugural shipping securitization issuance of $500 million in 2014.
The transaction, which boosts and diversifies the bank’s liquidity position, is a non-recourse four-year term dollar funding with a unique structure and one of the very few shipping securitization transactions globally.
Alpha’s Managing Director – CEO Dimitris Mantzounis noted that “the successful completion of this new financing transaction with a top international financial organization demonstrates once more the bank’s ability to diligently support such transactions and contributes significantly to the implementation of Alpha Bank’s business goal for funding diversification by utilizing all its assets efficiently”
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Source: ekathimerini.com
