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OTP Bank issues mandate to organize €200 mln syndicated loan

OTP Bank on Wednesday said it issued a mandate to several banks to organize a €200 million syndicated loan.

OTP Bank issued the mandate to BNP Paribas, Citi Bank, Credit Agricole Corporate and Investment Bank, ING Bank, Intesa Sanpaolo, UniCredit Bank Austria and UniCredit Group and Wells Fargo Bank, both represented by Yapi Kredi Netherland.

The two-year loan will serve as general financing for the bank's lending activities.

OTP Bank signed for a €250 million term loan facility in July 2010. OTP said at the time that the originally planned sum was €200 million, but that the transaction was heavily oversubscribed with 16 banks taking part in the deal. The facility has a two-year tenor and carries a margin of 130bp over Euribor.