Oversubscription was close to fourfold, the ÁKK was cited as saying by state news wire MTI. The bond was sold at a price of 98.621%. The spread was 75 basis points over the seven-year mid-swap.
The issue was organised by Deutsche Bank, Erste Bank Group and JP Morgan.
The ÁKK said that, in spite of the issue, the ratio of FX debt within Hungaryʼs state debt could fall to 20% this year, from 22% at the end of 2017.
Finance Minister Mihály Varga said late Tuesday that the extraordinarily low interest on the bond will reduce Hungaryʼs debt servicing costs in the long term, further boosting expectations for an upgrade of the countryʼs sovereign rating.
The ÁKKʼs annual 2018 issue plan targets gross FX bond issues of EUR 1 bln. Hungaryʼs last eurobond, a EUR 1 bln ten-year bond issued in October 2017, carried a coupon of 1.75%, MTI recalled.