Image by Shutterstock.com

Green bonds accounted for one-third of the issue, making Hungary the first foreign sovereign issuer to enter the JPY green bond market, Varga said.

The Government Debt Management Agency (ÁKK) issued three- and five-year “conventional” JPY bonds and seven- and 10-year green bonds, he said.

Japanese investors subscribed 80pc of the issue and investors from other countries 20%, he added.

In a separate release, ÁKK said it issued JPY 62.7 billion of samurai bonds in four series, all priced at 100% of face value. 

ÁKK sold JPY 22.7 bln of a three-year conventional bond with a 0.52% coupon. The spread on the bond was 51 bp over mid-swaps.

It sold JPY 20 bln of five-year conventional bonds with a 0.74% coupon. The spread was 73 bp over mid-swaps.

ÁKK sold JPY 15.5 bln of seven-year green bonds with a 1.03% coupon. The spread was 100 bp over mid-swaps.

It sold JPY 4.5 bln of 10-year green bonds with a coupon of 1.29%. The spread was 120 bp over mid-swaps.

Lead organizers for the issue were Daiwa Securities, Nomura Securities and SMBC Nikko Securities.

ÁKK said the issue completes the EUR 4 bln annual target for FX issues in its updated 2020 issue plan.