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FHB announces forint bond rate

The new one-year fixed-rate mortgage-backed bonds of Land Credit and Mortgage Bank (FHB) will pay 7.6% annual interest, FHB announced. The bank will auction the new bonds together with the second offering of the five-year series on June 6 and offers Ft 5 billion of both forint-denominated series. The new bond starts its run on June 8, 2005 and will expire on June 8, 2006.