OTP Mortgage Bank issues EUR 750m floating-rate covered bond
OTP Jelzalogbank, the mortgage unit of Hungary's OTP Bank, tapped markets with a three-year, covered, floating-rate note denominated in euros on Wednesday, Dow Jones reported from London.
The bond, which will expire on August 10, 2014, was issued at par and will have a 300 basis points over the three-month Euribor, BNP Paribas, the sole lead manager on the deal, announced on Wednesday evening.
Pricing was in line with guidance.
The bonds will be listed in Luxembourg, the announcement shows.
The issuer is rated Baa3 by Moody's and BBB- by Standard & Poor's.
The report noted that OTP Mortgage Bank hosted meetings with European fixed-income investors in July. BNP Paribas SA, Citigroup Inc. and Morgan Stanley arranged the roadshow.
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