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$2 billion in international bonds to be sold before year’s end

History

Hungary wants to raise about $2 billion on international bond markets before the end of this year, National Economy Minister Mihály Varga said in an interview published by Bloomberg news service today. Varga informed that the next foreign-currency issuance would “probably” be in U.S. dollars.

The sale would follow a $3.25 billion dollar bond issue in February.

“At the time of the February bond sale, the government’s intention was to raise $2 billion and this is roughly the amount one can expect in a bond issue in the remainder of the year,” Varga said. The dollar market is the most liquid and provided “very favorable feedback” in February, he added.

The latest European Union projections on Hungary’s economic performance may help boost investor confidence, he said.

On Tuesday, the European Commission’s Autumn European Economic Forecast for 2014 showed a prediction of 1.8% growth to Hungarian GDP in 2014.

–David Landry contributed to this report

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