Hungary’s MBH Bank expects preferred offering as Wednesday business

Chicago, Oct. 10 – MBH Bank Nyrt. expects that its first senior preferred bond deal will be Wednesday business, according to a market source.

Early feedback has the notes coming in the 8¼% to 9% area.

The bank is still expecting to price €300 million of four-year senior notes with three years of call protection (Ba2).

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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