Hungary to apply for shelf registration for US bonds

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Hungary will apply in early March for a shelf registration in the United States that will allow the country to issue bonds there at any time over the next two years, wire services reported on Thursday, citing state debt management agency ÁKK deputy CEO László Búzás. The registration will be submitted for $5 billion, Búzás said. He stressed, however, that the registration is by no means an indication of the timing, amount and denomination of the country's next bond offering. ÁKK is not under pressure to sell new bonds abroad soon after a $3.25 billion bond sale earlier in February which covers more than 60% of the country's foreign currency financing need for 2013, he added. The US bond shelf registration could take several weeks or months, Búzás said.

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