OTP Bank sold the offered minimum volumes of both of its two-year and its ten-year indexed bonds in their second offering between Wednesday February 3 and February 5, the bank said on Friday. The bonds are available to legal entities and businesses, and Groupama Garancia, Groupama’s Hungarian unit will enjoy preference at subscription.
OTP sold HUF 27m of the OTPX2011C bonds, maturing on December 20, 2011, bringing the total issued of the bonds to HUF 527m. It sold HUF HUF 48m of OTPX2019B bonds, due on October 14, 2019, bringing the total amount issued to HUF 548m.
The bank said it accepted all subscription.
The interest of the bonds is pegged to various BNP Paribas indices.
The OTPX2011C bonds were offered at 98.71pc of nominal value, and the OTPX2019B bonds at a gross price of 95.16pc between Wednesday and Friday.
This time OTP Bank did not offer a third, five-year bond, having a similar interest structure, and offered parallel with the other two bonds in their first offering in the middle of last December. It sold HUF 4.6bn against a miinimum offer of HUF 3bn of these OTPX2014C bonds, due on December 19, 2014.
The first subscription of the bonds coincided with Groupama Garancia’s offering of three new asset funds, of two-, five- and ten-year terms, to investors between November 2 and December 11.
Groupama group is OTP Bank’s largest shareholder with a stake of 9.16pc of the end of September 2009.