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Hungary mandates Bank of China for yuan-bond roadshow

The Bank of China has been mandated by the Hungarian government to organize a roadshow for the possible issue of a yuan bonds, an official from the Government Debt Management Agency (ÁKK) told Reuters today.

“The negotiations about this have already taken place and the prime minister has announced this, so the possibility is there,” Reuters cited the official. “This is a non-deal roadshow that may result in a renminbi-denominated bond issuance in the near future,” the official reportedly said.

After Hungary’s Prime Minister Viktor Orbán and President of the Bank of China Guoli Tian signed a cooperation agreement on Hungary issuing yuan-denominated government bonds in November, Economy Minister Mihály Varga said in December that Hungary could issue yuan bonds valued at up to €420 million this year.