By Reshmi Basu
New York, Sept. 13 - OTP Bank plc said it priced €300 million of 10-year bullet bonds at par to yield 5.27% under its euro medium-term note program.
The deal was more than four times oversubscribed.
Proceeds will be used to finance the bank's current acquisitions.
Calyon Corporate Investment Bank and Citigroup managed the deal.
Additionally, OTP Bank announced Wednesday that it had increased the size of its note program to €3 billion from €1 billion.
OTP is the largest financial institution in Hungary. It is also known as the National Savings and Commercial Bank Ltd., Hungary.
| Issuer: | OTP Bank plc
|
| Amount: | €300 million
|
| Issue: | Fixed-rate bullet bonds
|
| Maturity: | Sept. 19, 2016
|
| Coupon: | 5.27%
|
| Issue price: | Par
|
| Yield: | 5.27%
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 26
|
| Lead managers: | Calyon Corporate Investment Bank, Citigroup
|
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