Eximbank issues $500 mln 2020 bonds

Debt

Eximbank, Hungary’s state-owned export-import bank, sold bonds worth of HUF 500 mln on international markets, the bank reported yesterday. The bonds due to expire on January 20, 2020 have a 4% fixed interest and were priced to yield 4.15%.

Subscription totalled $2.2bn and the interest is the most favorable rate offered by a Hungarian sovereign-risk issuer, the bank commented. The bonds are part of a €2 bln international note program launched by Eximbank in December 2012 to finance Hungarian exports at competitive terms.

Eximbank issued a $500m five-year bond on December 5, 2012 and a €400 mln five-and-half-year bond on September 24, 2013 under that program.

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