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Hungary registers in Japan for bond sales

Hungary has renewed its registration on Japanese markets to maintain a window of opportunity for a potential bond issuance in that country, Hungary's Government Debt Management Agency (AKK) Deputy Chief Executive Lászlo Buzás told Reuters on Wednesday.

“The so called shelf registration on the Japanese capital market has been renewed for the next two years in a total value of around ¥200bn (€1.48 billion),” Buzás said, adding that the move was an administrative step and does not necessarily mean Hungary would tap the Japanese market in the near future.

“On certain markets where the Hungarian state regularly appears (such as Japan and the United States) this so-called shelf registration has to be renewed annually,” Buzás said.

Hungary last issued a samurai bond two years ago.

In July, Hungary successfully sold €1 billion in five-year eurobonds, returning to international markets for the first time since the first half of 2008.

The eurobond issue was seen as a test of whether Hungary can gradually wean itself from IMF and EU emergency aid the country secured in October 2008. (MTI-ECONEWS)