Alpha Bank is accelerating the implementation of its Galaxy NPE securitization, a core pillar of its Strategy announced in November 2019.
Galaxy consists of three (3) NPE securitizations under the code names Orion, Galaxy II and Galaxy IV with a total gross book value of c. Euro10.8 billion.
In the above context, and pursuant to Law 4649/2019, the Bank has submitted an application under the Hercules Asset Protection Scheme for the Orion and Galaxy II securitizations with gross book value of Euro 1.9 billion and Euro 5.7 billion respectively. The application relates to the provision of a guarantee by the Greek State on the senior notes of an amount up to Euro 3.04 billion. The application for Galaxy IV will follow soon thereafter.