ÁKK still weighing FX issue on int’l markets


jessica fejos

A decision on whether or not to issue an FX bond on international markets has not yet been taken, the head of the Government Debt Management Agency (ÁKK) told Hungarian news agency MTI.

ÁKK earlier targeted EUR 1.2 billion in proceeds from the sale of FX securities: part of this can come from the sales of eurobonds to domestic investors and there is also the possibility of an international FX bond issue, though a decision on conditions for the latter has still not been made, Gyorgy Barcza told MTI.

ÁKK follows the principle of caution and constantly observes the markets, he added.

If an FX bond issue on international markets were to take place, announcing it early would not serve any purpose, he said. The location and conditions for an international FX bond issue would depend on the situation, he added.

Chinaʼs onshore "panda" bond market would be a cheap option to tap considering pricing at present, he said. He added that there are number of risks on international markets that need to be watched in the coming months, among them elections in France and Germany, as well as the policy of the new American leadership under President Donald Trump.

ÁKK targeted sales of HUF 900 bln of retail securities for the full year, Barcza said, adding that sales could have reached about HUF 750 bln by the end of March.


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