Hungary based Financial Institution OTP Mortgage BankLTD. has finalised a private placement in the EUR Fixed Rate Euro Medium Term Note market. The financing matures in 2029 and was executed by a single dealer.
A Euro bond is a bond or other type of negotiable debt instrument issued in the offshore international, also called eurobond, market. The ISIN of a Euro Market bond always starts with XS. It can be denominated in any freely tradeable currency.
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| Issuer Details | |
| Issuer | OTP Mortgage BankLTD. |
| LEI | 529900925TK5QIGTBH86 |
| Industry | Bank - Credit Institution |
| Country | Hungary |
| Issuer Description | The subsidiary was established to provide subsidized mortgage bonds based housing loans completing the range of housing loans offered by the Bank Group. OTP Bank established OTP Mortgage Bank Ltd. in 2002 in order to provide its clients with the full range of state subsidized housing loans, and take full advantage of the state subsidy system. The volume of housing loans approached HUF 907.8 billion by the end of 2006. The liabilities from mortgage bonds issued increased to HUF 987.9 billion by the end of 2006. The Company's market share of over 60% in terms of loans and mortgage bonds secures it a leading position among the three mortgage lending institutions. The pre-tax profit of OTP Mortgage Bank Ltd. was HUF 5.0 billion, while its after-tax profit amounted to HUF 3.0 billion in 2006. The balance sheet total of the Company was HUF 1,074.8 billion on December 31, 2006. Equity capital of the Mortgage Bank rose to HUF 39.3 billion by the end of 2006. The company's return on average assets (ROAA) was 0.3% while its return on average equity (ROAE) was 7.9% in 2006. Mortgage Bank's value creation including fees transferred to OTP Bank exceeded HUF 61 billion.. OTP Bank established OTP Mortgage Bank Ltd. in 2001 in order to provide its clients with the full range of state subsidized housing loans, and take full advantage of the state subsidy system. |
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| Trade Details | |
| Security Type | MTN |
| Amount | EUR [Login to see full details] |
| Total Amount including taps | EUR [Login to see full details] |
| Total Amount Outstanding | EUR [Login to see full details] |
| Total Order Book | EUR [Login to see full details] |
| Structure | Fixed Rate |
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A Euro bond is a bond or other type of negotiable debt instrument issued in the offshore international, also called eurobond, market. The ISIN of a Euro Market bond always starts with XS. It can be denominated in any freely tradeable currency.
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