Hungary to extend forint-denominated yield curve
Hungary will launch a new, forint-denominated 2031-dated government bond at an auction on Thursday with an annual coupon of 3.25%, the Government Debt Management Agency (ÁKK) said yesterday in a technical update.
The new bond will be the longest-dated debt on the forint-denominated yield curve, currently ending in 2028. The new, HUF 10 bln, issue, maturing on October 22, 2031, will replace an earlier 15-year issue.
The other, three- and five-year bonds on offer on Thursday with coupons of 2.50% and 3.50%, respectively, are existing issues that will be reopened. ÁKK plans to sell a total of HUF 45 bln worth of the three bonds at the regular auction on Thursday.
The new bond is not the longest-dated debt of Hungary. It has a 2041-dated US dollar bond that it issued in 2011. No foreign currency issue is planned for this year.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
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.