MFB buys back additional bonds of FX series expiring in May

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Hungaryʼs state-owned National Development Bank (MFB) has bought back €28.39 million of one of its foreign bond series that expire on May 31, 2016, the bank said on the website of the Budapest Stock Exchange (BSE) yesterday.

The repurchase, which happened at an average net price of 101.97%, will leave €376.721 mln of the bond on the market.

MFB recently repurchased €94.889 mln of the same series at an average net price of 102.12%.

Both repurchases were directly from the bond holders, without using an investment service provider.

MFB will initiate the cancellation of the repurchased bonds.

The bond was issued to a total value of €500 mln in May 2011. It carries a 5.875% annual coupon, and was issued at a yield of 6.038%.

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