Commentary & Deal Flow

Reoffer: 6yr: MS+65bp / 100 / 3.458%
Benchmark: 6yr: DBR 0% Feb-32 @ 86.20% / B+79.2bp / HR 112%

Books: Peak book over €850m (incl. €25m JLM, pre-rec)

Launched: 6yr: €500m @ MS+65bp - Books over €850m (incl. €25m JLM, pre-rec)
Guidance: 6yr: MS+65/70bp

• Issuer: MBH Mortgage Bank Co. Plc. / MBH Jelzálogbank Nyilvánosan működő Részvénytársaság
• Legal Entity Identifier (LEI): 5299007F4BUUY6S14E44
• Issuer Rating: Ba3, stable (Moody’s)
• Expected Issue Rating: A1 (Moody’s)
• Joint Lead Managers: Erste Group, ING, MBH Investment Bank, UniCredit
• Issue Type: Mortgage Covered Bonds, European Covered Bond (Premium)
• Form of Notes: Bearer form, New Global Note, Reg S
• Governing law: English law, save for provisions relating to the status that will be covered by, and shall be construed in accordance with, the laws of Hungary
• Issue Size: €500m
• Reoffer: 100.00% / MS+65bps / 3.458%
• Benchmark: DBR 0% 02/32 @ 86.20% 2.666% B+79.2bp/ HR 112%
• Pricing Date: 23-Jun-26
• Settlement Date: 30-Jun-26 (T+5)
• Maturity Date: 30-Jun-32 (Hard Bullet)
• Coupon: 3.458% Fixed, Annual, Act/Act (ICMA), unadjusted
• Business Days: T2
• Business Day Convention: Following Business Day Convention
• Denomination: €100,000 and multiples thereof
• Listing: Luxembourg Stock Exchange's regulated market
• ISIN / Common Code: XS3426512086 / 342651208
• Documentation: EUR 1bn Mortgage Bonds Programme, Base Prospectus dated 18-Jun-26
• Selling Restrictions: There are restrictions on the offer, sale and transfer of the Mortgage Bonds in the United States (Regulation S Category 2), Japan, the EEA (including Hungary and Italy), the UK, Singapore.
• Paying Agent: Citibank, N.A., London Branch
• Use of Proceeds: General Corporate Purposes
• Settlement: Euroclear / Clearstream
• Target market: Eligible counterparties and professional clients only
• Fees: The Joint Lead Managers will be paid a fee in respect of the transaction
• B&D and DM: Unicredit
• TOE: 13.41 UKT / 14.41 CET // FTT 14.00 UKT/15.00 CET