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MKB Bank announces HUF 200 billion note program

Hungary's MKB Bank is launching a HUF 200 billion note program, the bank announced on the website of the Budapest Stock Exchange late on Monday. The program will run for twelve months from the announcement.

MKB Bank will issue bonds for public sale either at auction or through subscription.

The bonds may run between 30 days and 20 years, and they may be denominated in forint, euro, Bulgarian lev, Czech koruna, Croatian kuna, zloty, ruble, Romanian lei, Swiss franc or US dollar. Rates may be fixed or floating, and MKB may sell them at a discounted or indexed price.

MKB may issue bonds listed on the Budapest Stock Exchange as well as bonds not introduced on regulated markets under the program.

MKB had consolidated total assets of HUF 3,055.7 billion on June 30, 2009. It is a subsidiary of Bayerische Landbank of Germany. (MTI-ECONEWS)