Greece's Alpha Bank offers to buy back bonds to strengthen capital base

ATHENS, April 19 Fri Apr 19, 2013 6:57am EDT

ATHENS, April 19 (Reuters) - Alpha Bank, Greece's third-biggest lender, offered on Friday to buy back subordinated and hybrid bonds with a nominal value of 317 million euros at discounted prices.

Alpha offered to buy back from investors five series of securities, it said in a regulatory filing. It offered to buy the securities in cash at a price ranging from 35 percent to 55 percent of their nominal value.

The offer expires on May 9. J.P. Morgan will act as deal manager. "The offers are part of a range of proposals to strengthen the core tier 1 capital base of the bank," Alpha said. (Reporting by Lefteris Papadimas; writing by Harry Papachristou)