Hungary raises €3 billion in foreign bonds with three‑fold investor demand

Hungary’s State Debt Management Centre (ÁKK) sold €3 billion of foreign‑currency bonds on Monday. The issue attracted roughly €10 billion of investor orders, indicating demand about three times the amount offered.

The offering was split into two equal parts: a €1.5 billion, six‑year bond maturing in 2032 priced at a 3.50 % coupon and a 3.62 % yield with an 80‑basis‑point spread, and a €1.5 billion, eleven‑year bond maturing in 2037 with a 4.25 % coupon and a 4.282 % yield, carrying a 125‑basis‑point spread. The securities were priced at secondary‑market yields without any issuance premium. The transaction was organized by BNP Paribas, Citibank, Goldman Sachs Bank Europe SE, ING and JP Morgan.

Proceeds are earmarked for general financing purposes. This is Hungary’s second foreign‑currency bond issuance this year; a similar €3 billion program was launched in January, which included a €1 billion green bond component.