Economy
Hungary to issue EUR 500 m eurobonds
“The proceeds will be used to refinance the loans of state motorway company NA Rt," a source close to the transaction told Reuters.
The issue and pricing is expected in October.
Today's announcement means that Hungary will surpass its planned EUR 3.5 billion issuance this year. NA Rt has taken out loans in the amount of HUF 125 billion and HUF 52.8 billion in order to be able to compensate to the budget for motorway stretches given over to National Motorway Management Company (ÁAK).
The current EUR 500 million issuance will probably be used to refinance the HUF 125 billion banking loan.
The issue and pricing is expected in October.
Today's announcement means that Hungary will surpass its planned EUR 3.5 billion issuance this year. NA Rt has taken out loans in the amount of HUF 125 billion and HUF 52.8 billion in order to be able to compensate to the budget for motorway stretches given over to National Motorway Management Company (ÁAK).
The current EUR 500 million issuance will probably be used to refinance the HUF 125 billion banking loan.
