Rheinhyp-BRE mortgage bonds prove successful, others to join the bandwagon

The first public issue of mortgage bonds carried out by Rheinhyp-BRE Bank H ipoteczny on the CeTO over the counter market has ended in success. The bank sold mortgage bonds of zł. 200 million, with demand reaching zł. 340 millio n. The value of one bond was zł. 1,000, the buy out period is five years, w ith interest paid out every six months. The sale was aimed at institutional investors, primarily investment and pension funds, banks and insurance comp anies. Starting today, the mortgage bonds will be listed on the CeTO. Rhein hyp-BRE BH president, Piotr Cyburt, announced during a press conference that sales of the next series of such bonds is scheduled for the autumn. The head of CeTO, Piotr Wi.niewski said in a statement that another mortgage bank is planning an issue of mortgage bonds later this year. (Rzeczpospolita, April 12-13, p. B5) A.K.