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MFB buys back €95 mln in bonds before expiry

Hungaryʼs state-owned National Development Bank (MFB) has bought back €94.889 million of one of its foreign bond series that expires on May 31, 2016, the bank said on the website of the Budapest Stock Exchange (BSE) today.

The repurchase will leave €405.111 mln of the bonds, that were issued for a total value of €500 mln, on the market.

MFB said it repurchased the bonds at an average net price of 102.12% of the nominal value directly from the bond holders, without using an investment service provider, and with January 18 and January 19 value days.

MFB will initiate the cancellation of the repurchased bonds.

The bank did not say whether it or the investors had initiated the transaction.