OTP Group participates in first int'l sovereign bond issue

Banking

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OTP Group has participated in its first international sovereign bond issue, the lender said, according to a report by Hungarian news agency MTI.

OTP Group was co-lead manager of a EUR 2 billion Eurobond issue by the state of Croatia on February 25, OTP said. It was joined in the transaction by Societe Generale, JP Morgan, Morgan Stanley and UniCredit's Zagrebacka banka.

OTP said that offers for the bonds - a EUR 1 bln 12-year bond and a EUR 1 bln 20-year bond - reached EUR 7 bln. The yield for the 12-year bond was 105 bp over midswaps and the yield for the 20-year bond was 135 bp over midswaps, it added.

OTP noted that it placed third in a ranking by Bloomberg for organizing corporate bond issues in the CEE region in 2020.

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