Chat with Filing

Ask questions about this document
Please log in or register to use the chat feature. Please register first.
PRS - Az MJ31NV01 MBHJ Jelzáloglevél első sorozatrészletének nyilvános ajánlattétele és Végleges Feltételei (2025.05.20.)

Company: OPUS GLOBAL Nyilvánosan Működő Részvénytársaság Date: 2025-05-20 Language: English Register to download
Loading document preview...
Document Preview Not Available

The file type (.pdf) cannot be displayed directly here.
Open Original File
Error loading document preview. Please try the 'Open Original File' link.
You're One Click Away From The Full Filing

Instantly access this document—and 2.8M more—for free. Select your preferred method:
Continue with Google Continue with Microsoft Continue with Facebook Continue with Amazon
![](_page_0_Picture_0.jpeg)

# MBH Mortgage Bank Co. Plc.' Public Offering of the 1. tap of the MJ31NV01 mortgage bond series to be issued under the Issuer's 2025-2026 Covered Bond and Senior Unsecured Bond Issuance Programme

Pursuant to the resolution of Board of Directors No. 4/5/2024. (18 December 2024) of the MBH Mortgage Bank Co. Plc's (registration number: 01-10-043638, date of registration: 18 March 1998, head office: 1117 Budapest Magyar Tudósok körútja 9. G. épület, LEI-code: 5299007F4BUUY6S14E44) (hereafter: "Issuer", or "Bank") and after the resolution No. 256/2024. (12.20.) (20.12.2024.) of the Board of Directors of MBH, furthermore 106/2024. (12.20.), (20.12.2024) of the Board of Directors of MBH Investment Bank Plc. and the Approval Announcement on 15 January 2025 of the Integration Organization the Issuer launched the HUF 150 billion 2025-2026 Issue Program, under the validity of which, the Issuer will issue, through public offering, different registered type covered mortgage bond and senior unsecured bond series and taps, listed or non-listed on the regulated market operated by the Budapest Stock Exchange (BSE). The Issuer publishes its Base Prospectus on the website of its own and of the BSE the hard copies are available at the selling places.

The number and date of the license granted by the Magyar Nemzeti Bank (MNB) to the Base Prospectus of the Issue Program: H-KE-III-122/2025, 26 February 2025, while the previous 2025-2026 Covered Bond and Senior Unsecured Bond Issuance Program was terminated on the same day.

Pursuant to the Issue Program referred above the Issuer publicly offers to issue on 27 May 2025 the first tap of MBH Mortgage Covered Bond series MJ31NV01 and MBH Mortgage Bank will initiate to introduce the series into the BSE. The basis of the issue: the resolution No 6/2025(17.05)-MBHMB-ALCO (17 May 2025) of the Assets/Liabilities Committee.

The decision H-KE-III-533/2022 (12 September 2022) of MNB authorized the Issuer to use the "European Premium Covered Bond" Logo for its mortgage bonds to be issued in the future. This means that the issuer fully complies with the requirements of the European covered bond regulation i.e. the Directive (EU) 2019/2162 of the European Parliament and of the Council and the procedures and practices it uses also ensure that the mortgage bonds it issues meet the enhanced requirements that determine the prudential requirements of European credit institutions. As a result, the issuance of the present covered bond series will also be placed in the premium category.

This document is the Final Terms of the covered mortgage bond series detailed below. Terms used herein shall be deemed to be defined as such for the purposes of the Terms and Conditions of the covered mortgage bonds set forth in the Base Prospectus dated 26 February 2025 (Base Prospectus). This document had been prepared in line with the application of the Regulation (EU) 2017/1129 of the European Parliament and the Council (Prospectus Directive) on the prospectus to be published when securities are offered to the public or admitted to trading on a regulated market, and repealing the Directive 2003/71/EC and in order to get all the relevant information it must be interpreted in conjunction with the Base Prospectus and its Supplements. This Final Terms must be read together with the Base Prospectus. Pursuant to the Article 21 of the Prospectus Directive the Base Prospectus and its Supplements are available on the websites of the Issuer [\(https://www.mbhmortgagebank.hu/](https://www.mbhmortgagebank.hu/) ) of the Budapest Stock Exchange [\(http://www.bet.hu\)](http://www.bet.hu/), and the MNB [\(http://kozzetetelek.mnb.hu/](http://kozzetetelek.mnb.hu/) ).

| 1. | Issuer:                     | MBH Mortgage Bank Co. Plc.                     |
|----|-----------------------------|------------------------------------------------|
|    |                             | (MBH Jelzálogbank Nyilvánosan Működő           |
|    |                             | Részvénytársaság) 1117 Budapest Magyar Tudósok |
|    |                             | körútja 9. G. épület                           |
| 2. | (i)<br>Type of the security | Covered bond (Non green)                       |
|    | (ii)<br>Series Number:      | 1 (Under Issue Program 2025-2026)              |
|    | (iii)<br>Tranche Number:    | 1                                              |
| 3. | Offered volume:             | HUF 6,000,000,000                              |
| 4. | Aggregate Nominal Amount:   |                                                |
|    | (a)<br>Series:              | HUF 6,000,000,000                              |
|    | (b)<br>Tranche:             | minimum HUF 3,000,000,000                      |
|    |                             |                                                |

| 5.                                         |                | Specified Currency or Currencies: | HUF                                                   |
|--------------------------------------------|----------------|-----------------------------------|-------------------------------------------------------|
| 6.                                         |                | Issue Price (per Mortgage Bond):  | Not applicable                                        |
| 7.                                         |                | Specified Denominations:          | HUF 10,000                                            |
| 8.                                         |                | Number of pieces                  |                                                       |
|                                            | (a) Series:    |                                   | 600,000                                               |
|                                            |                | (b) Tranche:                      | minimum 300,000                                       |
| 9.                                         | (a)            | Issue Date:                       | 27.05.2025                                            |
|                                            | (b)            | Interest Commencement Date:       | 29.05.2025                                            |
| 10.                                        |                | Date of Settlement                | 29.05.2025                                            |
| 11.                                        | Value Date:    |                                   | 29.05.2025                                            |
| 12                                         | Maturity Date: |                                   | 29.05.2031                                            |
| 13. Tenor:                                 |                |                                   | 29.05.2025 - 29.05.2031                               |
| 14. Interest Basis:                        |                |                                   | Floating interest rate, in the first interest period  |
|                                            |                |                                   | (29.05.2025-29.05.2031) is: 7.10% annually. From the  |
|                                            |                |                                   | second interest period the covered bond pays variable |
|                                            |                |                                   | rate, where the annual rate is 3M BUBOR + 0,60%.      |
| 15 Redemption/Payment Basis:               |                |                                   | Redemption at the Specified Denomination              |
| 16 Change of Interest Basis or Redemption/ |                |                                   | Not Applicable                                        |
|                                            | Payment Basis: |                                   |                                                       |
| 17.Put/Call Options:                       |                |                                   | Not Applicable                                        |

### PROVISIONS RELATING TO INTEREST (IF ANY) PAYABLE

| 18.Fixed Rate Mortgage Bond Provisions             | Not Applicable |
|----------------------------------------------------|----------------|
| 19<br>Floating Rate Mortgage Bond Provisions       | Applicable     |
| (i) Specified Period(s)/Specified Interest Payment |                |
| Dates:                                             |                |

(iii) Manner in which the Rate of Interest and Interest Amount is to be determined:

(iv) Party responsible for calculating the Rate of Interest and Interest Amount:

(v) Screen Rate Determination: Applicable

29.08.2025., 29.11.2025., 28.02.2026., 29.05.2026., 29.08.2026., 29.11.2026., 28.02.2027., 29.05.2027., 29.08.2027., 29.11.2027., 28.02.2028. 29.05.2028., 29.08.2028., 29.11.2028., 28.02.2029. 29.05.2029., 29.08.2029., 29.11.2029., 28.02.2030. 29.05.2030., 29.08.2030., 29.11.2030., 28.02.2031. 29.05.2031.,

(ii) Business Day Convention: Following Business Day Convention (unadjusted) Screen Rate Determination

Agent: MBH Bank Nyrt. (1056 Budapest, Váci utca 38.)

- Reference: 3 Month BUBOR

- Interest Rate calculation In the first interest period the initial interest rate is 7.10% annually and iInterest calculation day is 20.05.2025.

> From the second interest period the Covered Bond pays variable rate falling on 29 th August, 29th November, 28th February and 29th May each year. From the second interest period the interest rate calculation method is the following: the annual rate is equal to the 3-month BUBOR + 0.60%.

> If the National Bank of Hungary publishes same type of interest rate instead of 3M BUBOR, that will be taken into account, if there is not available 3M BUBOR, the Issuer will pay the rate of the previous coupon of the previous interest paying date.

- Interest rate determination day(s) Two working days in Budapest before the commencement of the interest period. In case the interest rate determination date falling on bank holiday, the applicable Business Day convention is the Preceding Business Day Convention.

- Screen page: [www.mnb.hu](http://www.mnb.hu/)
- (vi) ISDA Determination: Not Applicable
- 
- (viiii) Minimum Rate of Interest: Not applicable
- (ix) Maximum Rate of Interest: Not Applicable
- (x) Day Count Fraction: Actual/360
- (xi) Fallback provisions, rounding provisions and any other terms relating to the method of calculating interest on Floating Rate Mortgage Notes, if different from those set out in the Conditions:

(vii) Margin(s): 3 Month BUBOR + 0.60% Not Applicable

20. Zero Coupon Mortgage Bond Provisions Not Applicable

## PROVISIONS RELATING TO REDEMPTION

- 21. Issuer Call: Not Applicable
- 22. Investor Put: Not Applicable
- 
- 24. Early Redemption Amount payable on redemption for taxation reasons or on event of default and/or the method of calculating the same (if required or if different from that set out in Condition 5(d)):

23. Final Redemption Amount: HUF 10,000 per Specified Denomination Base Prospectus of the Issue Program 2025-2026 Condition IV.4.1.5(d) is applicable

# GENERAL PROVISIONS APPLICABLE TO THE MORTGAGE BONDS

| 25.<br>26.                 | Representation of the Mortgage Covered<br>Bonds Holders:<br>Additional Financial Centre(s) or other special                                                                                                                                                                                                                                          | None<br>Not Applicable                                                                                                                                                                                                                                                      |
|----------------------------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 27.                        | provisions relating to Payment Dates:<br>Details relating to Partly Paid Mortgage Covered<br>Bonds: amount of each payment comprising the Issue<br>Price and date on which each payment is to be made<br>and consequences of failure to pay, including any right<br>of the Issuer to forfeit the Mortgage Bonds and<br>interest due on late payment: | Not Applicable                                                                                                                                                                                                                                                              |
| 28. Change of denomination |                                                                                                                                                                                                                                                                                                                                                      | Not Applicable                                                                                                                                                                                                                                                              |
|                            | 29. Other final terms:                                                                                                                                                                                                                                                                                                                               | Not Applicable                                                                                                                                                                                                                                                              |
|                            | DISTRIBUTION                                                                                                                                                                                                                                                                                                                                         |                                                                                                                                                                                                                                                                             |
| 30.                        | If syndicated, names of Managers:                                                                                                                                                                                                                                                                                                                    | Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u.<br>55-61.,<br>ING Bank N.V.Magyarországi fióktelepe 1068<br>Budapest, Dózsa György út 84/b.<br>MBH Bank Nyrt. 1056 Budapest, Váci utca 38.,<br>MBH Investment Bank 1117 Budapest Magyar Tudósok<br>körútja 9. G. épület. |
| 31.                        | Stabilising Manager (if any):                                                                                                                                                                                                                                                                                                                        | Not Applicable                                                                                                                                                                                                                                                              |

| 32. | Market Makers (best effort/binding)                                                                                                                                                                            | Concorde Értékpapír Zrt. 1123 Budapest, Alkotás u.<br>55-61., (best effort)<br>ING Bank N.V.Magyarországi fióktelepe 1068<br>Budapest, Dózsa György út 84/b.(best effort)<br>MBH Bank Nyrt. 1056 Budapest, Váci utca 38.,<br>(binding)<br>MBH Investment Bank 1117 Budapest Magyar Tudósok<br>körútja 9. G. épület. (best effort)                                                                                                                                                                                                    |
|-----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 33. | Methods of public issuance:<br>(i)<br>Date of auction/ Subscription:<br>(ii) Type of auction                                                                                                                   | Auction<br>27.05.2025 10:00 - 11:00 CET (competitive section:<br>10:00-10:50; non-competitive section 10:50-11:00)<br>Normal                                                                                                                                                                                                                                                                                                                                                                                                         |
|     | (iii) Place of auction/ Subscription:                                                                                                                                                                          |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|     | (iv) Manager:<br>(v) Upper limit:                                                                                                                                                                              | Budapest Stock Exchange<br>MBH Bank Nyrt.1056 Budapest, Váci utca 38.,<br>The<br>Issuer<br>reserves<br>the<br>right<br>to<br>increase<br>the<br>announced quantity by a maximum of 50% depending<br>on the bids received for the auction.                                                                                                                                                                                                                                                                                            |
|     | (vi) Lower limit:                                                                                                                                                                                              | The Issuer reserves the right to reduce the announced<br>quantity by a maximum of 50% depending on the bids<br>received for the auction. If the Mortgage Covered<br>Bonds offered by the Issuer for sale are not purchased,<br>if the appropriate purchase price is not received on<br>the indicated accounts, or if the Issuer does not accept<br>the offers due to the unfavourable market price, then<br>Issuer might decide not to issue any bonds. The mode<br>of refunding will be discussed under the heading<br>'Refunding'. |
|     | (vii) Auction limit/ Subscription price:                                                                                                                                                                       | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | (viii) Auction bid / subscription lower and/or upper<br>limit:                                                                                                                                                 | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | (ix) Method and date of allocation:                                                                                                                                                                            | Pursuant to the point (Allocation) of the section IV.5.2<br>(Rules of the auctions) Allocation sub-point of the Base<br>Prospectus of the Issue Program 2025-2026, on<br>27.05.2025.                                                                                                                                                                                                                                                                                                                                                 |
|     | (x) The ratio of the non competitive bids and total<br>bids                                                                                                                                                    | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | (xi) The ratio of the non competitive bids and the<br>competitive bids by members of BSE sections:                                                                                                             | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | (xii) The maximum volume of the non competitive<br>bids by members of BSE section:                                                                                                                             | HUF 200,000,000                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |
|     | (xiii) Date and place of the allocation:                                                                                                                                                                       | 27.05.2025 13:00 CET at the websites indicated in the<br>point Notes (47.)                                                                                                                                                                                                                                                                                                                                                                                                                                                           |
|     | (xiv) The ticker and ISIN code of the mortgage bond<br>serving as compensation:<br>(xv) The exchange rate of the mortgage bond serving<br>as consideration,<br>(a) in the case of mortgage bonds with variable | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | interest rates, gross exchange rate (net exchange<br>rate, accrued interest on value date)                                                                                                                     | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     | (b) in the case of a mortgage bond with a fixed<br>interest rate, net exchange rate, the corresponding<br>yield, accumulated interest on the value date.                                                       | Not applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       |
|     |                                                                                                                                                                                                                |                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      |

34. Potential investors: Resident and non-resident natural persons and institutional investors, limited partnerships 35. Additional selling restrictions: Not Applicable 

## PROCEDURE

| 36. Any clearing system(s) other than KELER and the<br>relevant identification number(s): | Not Applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
|-------------------------------------------------------------------------------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
| 37. Delivery:                                                                             | DVP                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 38. Effectuation:                                                                         | Hungary                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                     |
| 39. Other paying Agent(s):                                                                | Not Applicable                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                              |
| 40. Isolated deposit accounts and fax numbers, and<br>e-mail address of the Managers:     | Concorde Értékpapír Zrt. 14400018-12281248-<br>10060012 fax: 36-1-4892201 e-mail: a.juhasz@con.hu<br>ING Bank N.V. Magyarországi fióktelepe 13700016-<br>00532547-00000000, fax: +36-1-2356761, email:<br>mihaly.bokor@ingbank.com<br>MBH Bank Nyrt. 10300002-20191196-70383285, e<br>mail: treasurytrading@mbhbank.hu<br>MBH Investment Bank 19017004-00201153 e-mail:<br>konya.peter@takarek.hu<br>MBH Mortgage Bank: 16801680-09014309                                                                                                                                   |
| 41. Disbursements, place of payments:                                                     | Pursuant to the point 4. (Disbursements) of the<br>section IV.4.1.4 (Terms and conditions of the covered<br>mortgage bonds and senior unsecured bonds) of the<br>Base Prospectus of the Issue Program 2025-2026.                                                                                                                                                                                                                                                                                                                                                            |
| 42. ISIN code:                                                                            | HU0000653845                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                |
| 43. Ticker code:                                                                          | MJ31NV01                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    |
|                                                                                           | GENERAL INFORMATION                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         |
| 44. Use of Proceeds:                                                                      | The Bank uses the proceeds for the sources for the<br>refinancing activity.                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 |
| 45. Market making:                                                                        | MBH Bank Nyrt. is a binding market maker, the other<br>Managers are entitled but not obliged to act as a<br>market maker for one year from the first day of the<br>listing                                                                                                                                                                                                                                                                                                                                                                                                  |
| 46. Notices, place of disclosure of information                                           | The Public Offering, the Final Terms, the Base<br>Prospectus, an all ordinary and extraordinary notices<br>to Investors with respect to the Notes issued through<br>a public issue shall be published on the website of the<br>Issuer (https://www.mbhmortgagebank.hu/ ), of the<br>NBH (www.kozzetetelek.mnb.hu) and of the BSE<br>(www.bse.hu). Pursuant to the Decree of Ministry of<br>Finance No. 24/2008 (VIII. 15) the Issuer publishes the<br>regulated information at homepages of the media<br>called<br>Portfolio.<br>The<br>hard<br>copies<br>of<br>the<br>Base |

Prospectus are available at the selling points.

47. Notes: The Public Offering, the Final Terms, the Base Prospectus, an all ordinary and extraordinary notices to Investors with respect to the Notes issued through a public issue shall be published on the website of the Issuer [\(https://www.mbhmortgagebank.hu/\)](https://www.mbhmortgagebank.hu/), of the NBH [\(www.kozzetetelek.mnb.hu\)](http://www.kozzetetelek.mnb.hu/) and of the BSE [\(www.bse.hu\)](http://www.bse.hu/). Pursuant to the Decree of Ministry of Finance No. 24/2008 (VIII. 15) the Issuer publishes the regulated information at homepages of the media called Portfolio. 48. Governing law: Hungarian law

### OTHER CONDITIONS

49. Listing and admission to trading application:

 (a) Listing: The Issuer will initiate the listing of the series on the BSE (b) Listing Agent: Not applicable (c) Decision on listing: Resolution No. 6/2025.(05.17.)-MBHMB-ALCO (17.05.2025) of the Issuer's Asset/Liability Committee (EFB) 50. Rating: The Covered Mortgage Bonds' rating: BBB (S&P) positive outlook. Moody's rating: The rating agency assigned a Ba3 long- and short-term issuer rating and a long-term A1 rating to the mortgage bonds issued by MBH MB. On the credit rating scale used by Moody's, the "Ba3" long- and short-term issuer rating is three categories higher than the lowest "Baa3" long- and short-term counterparty risk rating, which is still recommended for investment. The long-term "A1" rating for the Issuer's mortgage bonds represents the upper-middle level within the category recommended for investment, which indicates a low credit risk based on Moody's definition, five categories higher than the lowest "Baa3" rating of the rating band recommended for investment. 51. Licence: The number and date of the license granted by the National Bank of Hungary (NBH) to publish the Base Prospectus of the Issue Program and the disclosure of the public issue: H-KE-III-122/2025 (26 February 2025.), while the previous 2025-2026 Covered Bond and Senior Unsecured Bond Issuance Program was terminated on the same day. No. 4/5/2024. (18 December 2024) of Board of Directors of the Issuer, No. 256/2024. (12.20) (20.12.2024) resolution of the Board of Directors of

MBH Bank Plc., furthermore No. 106/2024. (12.20)

|                                                                                                                                                                                                                                                                  | (20.12.2024.) of the Board of Directors of MBH<br>Investment<br>Bank<br>Ltd.,<br>and<br>the<br>Approval<br>Announcement on 15 January 2025 of the Integration<br>Organization. |
|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|
|                                                                                                                                                                                                                                                                  | The base of the issue of the second tap series<br>MJ31NF01: the resolution 6/2025 (17.05.) MBHJ-EFB<br>of the Assets/Liabilities Committee                                     |
| 52. Interest of the legal and natural persons taking<br>part in the issue                                                                                                                                                                                        | Apart from the fees to be paid to the Managers, to the<br>best knowledge of the Issuer, no person has a material<br>interest in the issue                                      |
| 53. Cost of the issuance, and the cost bearer                                                                                                                                                                                                                    | Less, than 1 per cent. of the total volume to be issued.<br>The costs are borne by the MBH Mortgage Bank                                                                       |
| 54. Fees and Costs charged by the Issuer and the Lead<br>Manager / managers and borne by the investors:                                                                                                                                                          | Not Applicable                                                                                                                                                                 |
| 55. Estimated net proceeds from the issue                                                                                                                                                                                                                        | Depending on the net exchange rate of the issue                                                                                                                                |
| 56.<br>Other<br>condition<br>relating<br>to<br>the<br>issuer's<br>contribution under the second subparagraph of Article<br>5 (1) of the Prospectus Directive and Article 23 (a) of<br>the<br>Implementing<br>Regulation<br>of<br>the<br>Prospectus<br>Directive: | Not applicable                                                                                                                                                                 |

These Final Terms comprise the final terms required to list and have admitted to trading the issue of Mortgage Covered Bonds described herein pursuant to the HUF 150,000,000,000 Mortgage Bond and Note Program (2025-2026) of MBH Mortgage Bank Co. Plc. (*MBH Jelzálogbank Nyilvánosan Működő Részvénytársaság*).

The date of the Statement of the Property Supervisor: 16.05.2025.

Annex: the Summary of the given Issue is available only in the Hungarian version of the Final Terms.

Budapest, 20.05.2025.

 MBH Mortgage Bank Co. Plc. Issuer