Eximbank bond 25% oversubscribed

Debt

Subscriptions for a €400 million bond, sold by Hungary's state-owned Magyar Export-Import Bank (Eximbank) on Tuesday, exceeded €500 million, CEO Roland Nátrán told local media yesterday. The bonds will expire in February 2019, carried a coupon of 2.125%, and were issued with a guarantee of the World Bank's Multilateral Investment Guarantee Agency (MIGA) to the issue.

Buyers of the bond included investors from Japan, Norway, Switzerland, the Benelux countries and Germany which would not usually buy Hungarian or 'normal' Eximbank bonds, Nátrán said, referring to the MIGA guarantee.

The bond was the second issue under Eximbank's €2 billion medium-term issuance program launched last year. The bank issued €500 million five-year bonds under the progam in December 2012.

Eximbank plans to go on with the medium-term bond program next year, Nátrán said.

ADVERTISEMENT

Growth plans and inflation uncertainty in European companies Analysis

Growth plans and inflation uncertainty in European companies

Lawmakers postpone expanded data provision for tourism secto... Parliament

Lawmakers postpone expanded data provision for tourism secto...

MNB and Budapest Institute of Banking executive director Ger... Podcasts

MNB and Budapest Institute of Banking executive director Ger...

FINA head thanks Hungary for hosting 2022 worlds City

FINA head thanks Hungary for hosting 2022 worlds

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.