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FHB signs for Ft 4 bln credit line

The Land Credit and Mortgage Bank Rt (FHB) signed a multi-currency revolving credit line as an additional resource to support the bank's liquidity on March 2, the bank announced on Thursday. The credit line is worth Ft 4 billion, or more than 25% of the bank's registered capital of Ft 6.6 billion, FHB noted. The bank did not announce the terms of the agreement or the lender(s).

FHB had net assets of Ft 23.75 billion and total assets of Ft 484.02 billion at the end of 2005, according to its unaudited consolidated IFRS report published in February. Net assets rose 35.8% and total assets were up 16.5% from a year earlier.

So far this year, the bank issued €100 million of 6.5-year floating-rate covered bonds under its €1 billion EMTN program launched in 2003 and listed on the Luxembourg Stock Exchange early February.