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Hungary plans eurobond issue by end-September

Hungary plans to issue a eurobond by the end of September, as it gradually returns to market financing, Finance Minister Péter Oszkó said in an interview with Reuters on Wednesday.

Hungary has mandated several banks to arrange meetings with fixed income investors for a non-deal road show which Oszkó said will be held next week.

“We want to test in the upcoming period...how much market financing can be used. It's important that from the IMF there is an offer and possibility for further financing if necessary, but first we must work to see how we can attract financing from the market and how much this financing can be,” Oszkó told Reuters.

Hungary is currently drawing on a €20 billion financial support package from the IMF, EU and World Bank.

When asked if Hungary could issue a eurobond by the end of the third quarter Oszkó said: “By the end of the third quarter, this is part of our plans.”

He declined to comment on the possible size of the offering. (MTI-ECONEWS)