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Government Security Plus sales pass HUF 1 tln in 4 weeks

Retail investors bought more than HUF 1 trillion of Hungarian Government Security Plus (MÁP Plusz) papers in the first four weeks of their availability, Minister of Finance Mihály Varga said in a video posted on his Facebook page Monday, state news wire MTI reported.

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In the first week after the launch of the MÁP Plusz bonds, which pay an annualized yield of 4.95% if held for the full five-year maturity, retail investors bought HUF 529 bln, a record.

Subscription in the second week reached HUF 161 bln, and it came to HUF 194 bln in the third week. In the fourth week, subscription totaled HUF 132 bln.

The Hungarian Government Security Plus pays a rate gradually rising from 3.5% to 6.0% over five years.