MFB to launch EUR 500 mln bond issue

MNB

The state-owned Hungarian Development Bank (MFB) will issue euro-denominated bonds with a limit of EUR 500 million over a period of one year to finance its lending programs, the MFB told state news wire MTI on Tuesday.

Erste Bank Hungary, the Hungarian branch office of ING Bank, Magyar Takarékszövetkezeti Bank (TakarékBank), MKB Bank, OTP Bank, Raiffeisen Bank and UniCredit Bank Hungary will act as distributors in the issues. The MFB has assigned OTP Bank as auction bidder.

The bonds, with maturities of a minimum 12 months and a maximum ten years, will be auctioned on the Budapest Stock Exchange (BÉT). The MFB will float the bonds on the regulated market of the BÉT, with the first issue expected to be held in the first quarter of this year.

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