OTP Completes EUR 650 mln International Bond Issue

Banking

Image by Adriana Iacob / Shutterstock.com

OTP Bank, Hungary's biggest commercial lender, on Friday announced a EUR 650 million issue on the international bond market, according to a report by state news wire MTI.

The lender said the issue amount was raised from an originally planned EUR 500 mln on strong demand.

Altogether 112 institutional investors subscribed to the securities.

The average yield was 7.375%.

Lead managers were Deutsche Bank, Erste, JP Morgan UniCredit, and OTP Global Markets.

The bond matures on March 4, 2026.

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