Hungary issues another FX bond in a closed round

On 7 March 2023, Hungary's 6.125% USD bonds maturing on 22 May 2028 and 6.25% USD bonds maturing on 22 September 2032 were increased in a closed round by USD 150 million and USD 300 million respectively, according to a press release issued by the ÁKK. With the increases, the outstanding amount of the bond series will be USD 1.65 billion and USD 1.8 billion, respectively, as of the transaction's value date of 14 March 2023.

It is also stated that the proceeds will be used for general financing purposes.

There was a similar move in November, when Portfolio reported that it was unlikely to be a completely new entrant, as the amount suggests they know the Hungarian market well and have other positions.

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