Published on 8/3/2011 in the Prospect News Emerging Markets Daily.
New Issue: Hungary's OTP Mortgage Bank sells €750 million notes due 2014 at Euribor plus 300 bps
By Christine Van Dusen
Atlanta, Aug. 3 - Hungary's OTP Mortgage Bank Ltd. sold €750 million floating-rate notes due Aug. 10, 2014 (expected rating: Baa1) at par to yield Euribor plus 300 basis points, a market source said.
BNP Paribas was the bookrunner for the deal, which priced in line with talk, set at Euribor plus 300 bps.
OTP is a lender based in Budapest.
| Issuer: | OTP Mortgage Bank Ltd.
|
| Amount: | €750 million
|
| Maturity: | Aug. 10, 2014
|
| Description: | Floating-rate notes
|
| Bookrunner: | BNP Paribas
|
| Coupon: | Euribor plus 300 bps
|
| Price: | Par
|
| Yield: | Euribor plus 300 bps
|
| Trade date: | Aug. 3
|
| Settlement date: | Aug. 10
|
| Expected rating: Moody's: Baa1
|
| Price talk: | Euribor plus 300 bps
|
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