Alpha Bank has launched its first green senior preferred bond, seeking to raise up to €500 million from investors.

The bond has a six-year maturity, though it is callable after five years. Market estimates suggest the interest rate will be around the 3 per cent mark.

This issuance has been assigned a Baa2 rating by Moody’s, marking it as the bank’s first full investment grade issuance in recent years. The funds raised are intended not to exceed €500 million.

A consortium of leading banks has been appointed to manage the offering book.

BNP Paribas, Crédit Agricole CIB, HSBC, J.P. Morgan (B&D), Morgan Stanley, and UniCredit are serving as Joint Lead Managers.

Additionally, Crédit Agricole CIB is acting as the Green Structuring Bank for the issuance, underscoring the environmental focus of the debt.