Published on 11/14/2011 in the Prospect News Emerging Markets Daily.
New Issue: Hungary's OTP Mortgage Bank sells €750 million notes due 2013 at Euribor plus 525 bps
By Christine Van Dusen
Atlanta, Nov. 14 - Hungary's OTP Mortgage Bank Ltd. priced a €750 million issue of floating-rate notes due Nov. 18, 2013 (expected rating: Baa1) at par to yield Euribor plus 525 basis points, a market source said Monday.
Citigroup was the bookrunner for the deal.
The notes were guaranteed by OTP Bank, a lender based in Budapest.
| Issuer: | OTP Mortgage Bank Ltd.
|
| Guarantor: | OTP Bank
|
| Amount: | €750 million
|
| Maturity: | Nov. 18, 2013
|
| Description: | Floating-rate notes
|
| Bookrunner: | Citigroup
|
| Coupon: | Euribor plus 525 bps
|
| Price: | Par
|
| Yield: | Euribor plus 525 bps
|
| Trade date: | Nov. 14
|
| Settlement date: | Nov. 17
|
| Expected rating: Moody's: Baa1
|
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