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Commentary & Deal Flow

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by Jp Albin

May 26, 2026 5:22 AM ET

UPDATE (BOOKS): OTP Mortgage Bank €500m (WNG) long 7yr CB; MS+60a

IGC European Market: Deal Flow - General

Issuer	Term	Maturity	Size	Ranking	Type	ISIN	Guidance
OTP Mortgage Bank	long 7yr	31-Aug-33	€500m (WNG)	CB	Fixed	XS3392853902	MS+60a

Book Update: Books above €1bn (incl. €150m JLM)
Guidance: long 7yr: MS+60a

Issuer: OTP Mortgage Bank Ltd.
Ticker: OTP
LEI: 529900925TK5QIGTBH86
Issue Type: Mortgage Covered Bond, 100% residential mortgages, EU harmonisation label European Covered Bond (Premium)
Regulatory Classification: ECB eligible and EU LCR 2a
Format: Reg S, Bearer
Expected Issue Rating: A1 (Moody's)
Size: €500m (WNG)
Coupon: Fixed, annual, act/act ICMA, short first
Settlement Date: 03-Jun-26
Maturity: 31-Aug-33
Guidance: MS+60a
Bookrunners: BNP Paribas (B&D), Erste Group, Helaba, ING, OTP Bank, UniCredit
Listing: Regulated markets of Luxembourg Stock Exchange
Target Market: Manufacturer target market (MIFID II product governance) is eligible counterparties and professional clients (all distribution channels). NO PRIIP, NO KID will be prepared.
Denominations: €100k/€1k
Governing Law: Mortgage notes will be governed by Hungarian law
ISIN: XS3392853902
Advertisement: Under the Issuer´s €5 billion Debt Issuance Programme dated 22-May-26, available at: https://www.otpbank.hu/otpjelzalogbank/english-contents
Timing: Books open, today's business