MKB announces €120 mln bond issue

Deals

MKB Bank Nyrt plans a ten-year subordinated bond issue worth €120 million as part of its bond program registered in Luxemburg, MKB announced in capital markets gazette Magyar Tőkepiac on Tuesday.

Lead manager of the private issue will be MKB's majority owner BayernLB. Proceeds from the issue will probably be used to pay for MKB's acquisition of a majority stake in Romania's Romexterra Bank. MKB announced on September 14 it had already succeeded in acquiring the minimum targeted 50%-plus-one-vote stake in Romexterra Bank well before the offer's September 23 deadline. MKB did not reveal how much it offered for the shares but Romanian press reports said the price was €1.66 per share. Romanian press calculated the packet would cost €40.64 million but if all shareholders offered their shares it would cost €80 million. Romexterra has 43 branches at present and a market share of 0.9%.

ADVERTISEMENT

Reforms to raise productivity would strengthen recovery - OE... Analysis

Reforms to raise productivity would strengthen recovery - OE...

Meeting called to address Pegasus spyware lacks quorum  Parliament

Meeting called to address Pegasus spyware lacks quorum 

Skanska commercial dev unit names new EVP of operations Hung... Appointments

Skanska commercial dev unit names new EVP of operations Hung...

Zsa Zsa Gabor's ashes buried in Budapest City

Zsa Zsa Gabor's ashes buried in Budapest

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.