Hungary launches USD 3.5-3.75bn in bonds - report.

By bne IntelliNews March 25, 2011
Hungary launched a USD 3bn 10-year bond and between USD 500mn and USD 750mn in 30-year bonds, Reuters reported. The 10-year bond is priced at 310 basis points over U.S. Treasuries and the 30-year bond at 330 basis points. Earlier this year, the US Securities and Exchange Commission (SEC) permitted Hungary to issue treasury bonds worth up to USD 5bn on the US market. The Hungarian authority had previously announced a planned EUR 4bn (USD 5.4bn) financing on the foreign market in 2011 to cover maturing debt and repayments on the EUR 2bn EU-loan package. Last week, the state debt manager mandated BNP Paribas, Citigroup and Deutsche Bank to arrange a series of fixed income investor meetings in Europe and the United States.

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