Hungary to sell Ft 85 bln of bonds at auction next week
Hungary plans to sell Ft 45 billion (€177.7 million) of bonds maturing in June 2012 and Ft 40 billion of binds due February 2017 at an auction December 21.
The five-year bonds have an annual coupon of 7.25%, while the 10-year bonds will pay 6.75% annual interest, the government's Debt Management Agency said on its Web site. The yield on the benchmark five-year bond fell 3 basis points to 7.22% and the yield on the 10-year bonds lost 5 basis points to 6.74% in Budapest yesterday. Hungary's local-currency long-term debt rating is A1 at Moody's Investors Service, four steps below the highest investment grade, and A- at Standard & Poor's, six levels from the top. The agency sells forint-denominated government bonds every second Thursday in Budapest. (Bloomberg)
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