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OTP launches EUR 1bn EMTN programme

OTP Bank has signed a 1 billion euro foreign currency denominated EMTN (European Medium Term Note) Program and issued the first installment worth a nominal 500 million, the bank announced on Thursday. OTP Bank launched the programme on 29 June 2005 with BNP Paribas as lead manager. As part of the first portion of the programme, OTP Bank issued floating- rate bonds in a total nominal value of 500 million euro. Lead manager of the issue, which attracted a nearly 25 % oversubscription, was BNP Paribas, London, while Calyon, Paris and Bayerische Landesbank, Munich were joint lead managers. The bonds will be introduced on the Luxembourg Stock Exchange on 1 July 2005.