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Hungary’s MBH Bank lines up €300 million four-year preferred deal; pricing Oct. 9 week
Chicago, Oct. 5 – MBH Bank Nyrt. wrapped its initial marketing work with investors after hosting an investor call on Monday and calls through Wednesday for an inaugural senior preferred bond deal, according to a market source.
The source reported that more than 30 investors were engaged.
The bank is still expecting to price €300 million of four-year senior notes with three years of call protection.
Pricing is expected in the Oct. 9 week.
The notes are now expected to be rated Ba2, instead of a previous expectation for a Ba3-rated offering.
Citi, Erste Group, ING, MBH Bank and UniCredit are the joint lead managers.
The notes will be issued under the bank’s €1.5 billion euro medium-term note program.
MBH Bank is formed from the merger of MKB Bank Nyrt., Budapest Bank Zrt. and Takarekbank Zrt.
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