BSE launches corporate bond index

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The Budapest Stock Exchange is launching a new corporate bond index for non-financial corporations, the stock market operator said on Tuesday, according to a report by state news wire MTI.

BSE will publish the index figure daily from March 30 and will calculate its value retroactively up till January 4, making it significantly easier for investors to track the yield and performance of forint-based corporate bonds.

The basket of corporate bonds includes 29 securities, it has a total nominal value of more than HUF 600 billion, and the bonds have been issued by more than two dozen companies.

The corporate index-family of BSE includes the Budapest Stock Exchange Corporate Bond Total Return Index and the Budapest Stock Exchange Corporate Bond Long Term Yield Index.

BSE said it expects the non-financial corporate bond market to expand further, helped by the National Bank of Hungary's (MNB) Bond Funding for Growth Scheme (BGS).

MNB, the BSE's majority owner, launched the BGS in the summer of 2019. The program allocation stands at HUF 1.15 trillion.

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