Magyar Eximbank sells EUR 75 mln eurobonds at negative yield
Magyar Eximbank sold EUR 75 million of one-year eurobonds at an auction on Monday, a disclosure posted on the website of the Budapest Stock Exchange shows, according to Hungarian news agency MTI.
Magyar Eximbank noted in a press release that the bond was the first in the history of Hungarian capital markets to be sold with a negative yield.
Magyar Eximbank originally planned to sell EUR 50 mln of the EXIM 2017/1 eurobonds in their first issue, but raised its offer after bids came to EUR 335.3 mln.
The bonds pay a fixed annual 0.01%. They were sold at an average price of 100.0920%, which translates as a negative yield.
The bonds were sold exclusively in Hungary, according to the issue prospectus. They will be listed on the Budapest Stock Exchange.
Magyar Eximbank will use the proceeds from the issue to "meet general financing requirements, diversify financing structure and optimize the assets-liabilities maturity match," according to the prospectus.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
120,000 Guest Workers Employed in Hungary
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.
