OTP Mortgage raises €500m despite foreign exchange risk
OTP Mortgage Bank opened books on a €500m floating rate covered bond on Thursday morning, and set guidance on the mortgage backed deal at 190bp over three month Euribor.
BNP Paribas is sole bookrunner and also acted as sole lead on OTP’s last covered bond — a €510m March 2015 FRN issued at 400bp over three month Euribor in August 2012.
OTP also has a €750m floating rate deal maturing on November 18.
The new bonds
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