ATHEX-listed Alpha Bank, one of four systemic banks in Greece, on Wednesday completed a Tier 1 issue by raising 400 million euros. The yield reached 11.875 percent, according to reports.

Bids for the transaction exceeded 1.65 billion euros, reportedly fueled by strong demand from roughly 200 institutional investors.

The issue was oversubscribed by 5.7 times.

Initially, Alpha Bank aimed to raise 300 million euros with a yield of 12.25 percent to 12.50 percent. The bond is callable after 5.5 years.

Barclays, BofA Securities, Citi, J.P. Morgan and Nomura will arrange the issue.

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