By Reshmi Basu
New York, Sept. 20 - The Republic of Hungary said it reopened its floating-rate notes due 2012 to add €500 million on Wednesday.
The retap priced at 98.89 to yield three-month Euribor plus 25 basis points.
The deal priced right in the middle of revised guidance, which had been revised up to three-month Euribor plus 24 to 26 basis points from initial guidance of the low 20 basis point area.
Proceeds will be used for general financing purposes.
BNP Paribas and Dresdner Kleinwort were lead managers for the transaction.
Issuer: | Republic of Hungary
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Issue: | Retap of floating-rate notes due 2012
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Amount: | €500 million
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Maturity: | Nov. 2, 2012
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Coupon: | Three-month Euribor plus 5 basis points
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Retap price: | 98.89
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Yield: | Three-month Euribor plus 25 basis points
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Pricing date: | Sept. 20
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Lead managers: | BNP Paribas, Dresdner Kleinwort
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Price guidance: | Three-month Euribor plus 25 basis points
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