FHB buys back €112 mln of perpetual bonds
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FHB Mortgage Bank said it agreed with investors on Friday to repurchase €112 million of perpetual bonds before the five-year call protection period, Hungarian news agency MTI reported.
The National Bank of Hungary (MNB) approved the repurchase, according to reports. The approval was reportedly required because it took place less than five years after the bonds were issued, in December 2012.
As a result of the repurchase, FHB Groupʼs capital adequacy ratio will fall from 16.04% at end-March to 10.81%, which is still well over the 8% regulatory requirement, FHB noted.
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