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OJB to offer mortgage bonds to retail investors

OTP Bank Rt's mortgage bank OTP Jelzálogbank Rt (OJB) will offer a one-year mortgage backed bond and a ten-year mortgage bond for subscription between March 20 and 31, OJB announced on Thursday.

The new one-year OJB 2007/IV bond pays a fixed rate of 5.75% and matures on March 31, 2007. The bonds will be available at nominal value. The ten-year OJB 2016/I bonds pay a fixed annual 7.5%. The bonds, which run until February 3, 2016, are priced at 104% of their nominal value, translating into a yield of 7.08% on the last day of subscription. Interest on the bonds is paid yearly. The bonds may be subscribed by natural persons only or by OTP Bank. The minimum investment is Ft 100,000.