Chicago, Jan. 4 – Hungary’s new $2.5 billion offering of senior notes due March 26, 2036 priced with a 5˝% coupon and a discount of 97.883 to yield 5.741% (Baa2/BBB-/BBB), according to details from a market source.
The notes priced at Treasuries plus 180 basis points after initial talk had them coming in the 200 bps area.
The order book for the Rule 144A and Regulation S deal was reported at over $5.8 billion.
J.P. Morgan SE handled billing and delivery. BNP Paribas, Citi and Deutsche Bank were also bookrunners.
The notes will be listed in London.
Proceeds will be allocated for general budgetary purposes.
| Issuer: | Hungary
|
| Amount: | $2.5 billion
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| Issue: | Notes
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| Maturity: | March 26, 2036
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| Bookrunners: | J.P. Morgan SE (billing and delivery), BNP Paribas, Citi and Deutsche Bank
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| Coupon: | 5˝%
|
| Price: | 97.883
|
| Yield: | 5.741%
|
| Spread: | Treasuries plus 180 bps
|
| Trade date: | Jan. 3
|
| Settlement date: | Jan. 10
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| Ratings: | Moody’s: Baa2
|
| S&P: BBB-
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| Fitch: BBB
|
| Distribution: | Rule 144A and Regulation S
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| Price talk: | Treasuries plus 200 bps area
|
| ISIN: | US445545AU03, XS2744128369
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