Hungary’s USD 3 billion issue of five- and ten-year dollar bonds was five times oversubscribed, the Government Debt Management Agency (ÁKK) said on Tuesday. ÁKK sold USD 1 billion of the 4% fixed-rate five-year bonds at 260 basis points over US Treasuries. It sold USD 2 billion of the 5.375% fixed-rate ten-year bonds at 287.5 basis points over the benchmark. The agency said it would use the proceeds from the sale for “general financing purposes”.
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