OTP hits target as Abanka and Celje plan increases

05 Jul 2010

Hungary’s OTP Bank signed a Eu250m syndicated loan on Friday, increasing it from Eu200m after managing to shrug off concerns about the country’s sovereign debt early last month.

OTP, Hungary’s biggest lender, launched the deal shortly before government officials compared the country’s debt position with that of Greece, causing a sell-off of Hungarian assets, including OTP shares.

But OTP, having raised Eu200m from its eight bookrunners and looking for another Eu50m in syndication, exceeded its target. However, ...

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