MFB plans to launch HUF 200 bln bond program
The state-owned Hungarian Development Bank (MFB) will launch a HUF 200 bln bond program in the near future, deputy CEO Sándor Bertalan said yesterday during talks with prospective investors, according to Hungarian news agency MTI.
The first auction will be held on September 28. MFB will issue HUF 10 bln of fixed-rate bonds, which run from September 30 until April 16, 2018. Bond series in the program will be issued with face value of HUF 30 bln-50 bln.
MFB would like to develop the local investor market and broaden their palette of instruments for raising funding, Bertalan said. The bonds will be tradable on the Budapest Stock Exchange from October 1. MFB plans two-, three- and five-year series of the bonds, depending on investor demand. Auctions of the bonds will take place every two or three weeks.
The lead managers and distributors of the program will be FHB Commercial Bank and Unicredit Hungary Bank. Takarék Bank and ING Bankʼs Hungarian branch will also be involved in distribution. MFB had total assets of HUF 1.258 trillion at the end of last year.
ADVERTISEMENT
Minister Asks Banks to Introduce Voluntary Rate Caps
Gov't Raises 2023 Deficit Target to 5.2% of GDP
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.
