EUR 80 million for Bank Austria Creditanstalt's subsidiary in Hungary
- Bank Austria Creditanstalt arranges syndicated loan for HVB Bank Hungary.
- Transaction signed in Budapest today.
Bank Austria Creditanstalt has successfully arranged a EUR 80 million syndicated loan for HVB Bank Hungary, its Hungarian banking subsidiary. Together with DZ BANK of Germany, Bank Austria Creditanstalt acted as Mandated Lead Arranger in arranging and structuring this financial transaction. The signing of the agreement takes place at the Hungarian Academy of Sciences in Budapest today.
The loan agreement with a term of five years is the largest international syndication for HVB Bank Hungary to date. The bank will use the amount for general funding purposes. With total assets of EUR 2.4 billion, HVB Bank is the country's fifth-largest bank. In the course of the syndication, interested banks oversubscribed the original amount of the loan. For this reason the financing was increased to EUR 80 million. The fact that the original amount was oversubscribed shows the financial community's confidence in the borrower and in Bank Austria Creditanstalt's financial expertise.
Baden-Württembergische Bank participated in the financing as Senior Arranger, with Erste Bank, Landesbank Rheinland-Pfalz and LB Kiel acting as Arrangers. Bayerische Landesbank was Senior Lead Manager.
Based on its position as a member of the HVB Group, Bank Austria Creditanstalt is the world's third-largest arranger of syndicated loans in Central and Eastern Europe. Bank Austria Creditanstalt operates the largest banking network in Central and Eastern Europe, with 900 offices in 16 countries.
Enquiries: Bank Austria Creditanstalt Group Public Relations
Ildiko Füredi, tel. +43 (0)5 05 05 56102;