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FHB Mortgage Bank sells HUF 5 bln in five-year floating-rate bonds

  FHB Mortgage Bank on Monday announced it sold HUF 5 billion (€16.69 million) in five-year, floating-rate mortgage-backed bonds for subscription at par on March 18-20 at an auction on March 20.

The bonds will expire on March 17, 2014 and will pay an interest rate of 110bp over the twelve-month government security benchmark. The starting interest rate will be 12.75% annually. The bank sold HUF 100 million of the series at the first subscription ended on March 13.

FHB also announced it repurchased ahead of maturity HUF 11 billion of mortgage-backed bonds. The settlement date for the repurchase is April 12, 2010. The bonds had a fixed-rate of 10.25%. (MTI-Econews)