MFB to raise €1.1 bln abroad

MNB

State-owned Hungarian Development Bank (MFB) plans to raise foreign funding worth €1.1 billion next year, CEOs János Erős and Sándor Czirják announced yesterday. The bulk of the foreign funding would be in medium-term and long-term credit, with 70%-80% raised from international capital markets and 20%-30% from institutional loans. Part of the new liabilities will be used to repay maturing bonds. Czirják said he does not expect spreads to widen more than 5-10bp next year, referring to the possible effect of a recent downgrading of Hungary's sovereign ratings by Fitch.

ADVERTISEMENT

Varga puts 2021 GDP growth at 7-7.5% Analysis

Varga puts 2021 GDP growth at 7-7.5%

Opposition parties to begin PM candidate primaries Elections

Opposition parties to begin PM candidate primaries

New managing director at the helm of Wolt Hungary Appointments

New managing director at the helm of Wolt Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
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.