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Plus bond stock exceeds HUF 1.4 tln

Retail investors subscribed for HUF 94.7 billion of Hungarian Government Securities Plus (MÁP Plusz) bonds in the eighth week since their launch, bringing the total stock to HUF 1.417 trillion, show data published by the Government Debt Management Agency (ÁKK).

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The Plus bonds, which pay an annualized yield of 4.95% if held for the full five-year maturity, attracted record demand in the first week of availability, and weekly subscription remained over HUF 100 bln until the seventh week after their launch, state news wire MTI recalled.

Policymakers of the National Bank of Hungary (MNB) said a week earlier that "more than half" of the Plus bond sales were "registered as a new source of finance for the government sector," rather than purchases funded by redemptions of other government securities.