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FHB stock of mortgage bonds up Ft 28.6 bln in Q1

The Land Credit and Mortgage Bank (FHB) Rt's stock of outstanding mortgage bonds was Ft 432.43 billion at the end of March, Ft 28.59 billion more than at the end of 2005, the bank announced on Thursday.

Including interest, the bonds were worth Ft 611.03 billion. The bank had coverage of Ft 768.17 billion on the bonds, giving it a coverage rate of 125.7%.
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 in early February. Also in February, FHB privately placed covered bonds of Ft 500 million. FHB also took out a Ft 4 billion multi-currency revolving credit line in Q1 2006 to support its liquidity.