New Issue: Republic of Hungary prices $3.75 billion of notes due 2021, 2041

By Christine Van Dusen

Atlanta, March 24 - The Republic of Hungary priced a $3.75 billion issue of notes due 2021 and 2041 (Baa3/BBB-/BBB-) in a Securities and Exchange Commission-registered deal on Thursday, a market source said.

The deal included $3 billion 6 3/8% notes due March 29, 2021 that priced at 99.062 to yield 6.504%, or Treasuries plus 310 bps. The notes were talked at a spread in the Treasuries plus 325 bps area.

The issuance also included $750 million 7 5/8% notes due March 29, 2041, which came to market at 98.084 to yield 7.791%, or Treasuries plus 330 bps. The notes were talked at a spread in the Treasuries plus 345 bps area.

Issuer:	Republic of Hungary
Amount:	$3.75 billion
Securities:	Notes
Bookrunners:	BNP Paribas, Citigroup, Deutsche Bank
Trade date:	March 24
Settlement date:	March 29
Ratings:	Moody's: Baa3
	Standard & Poor's: BBB-
	Fitch: BBB-
Distribution:	Securities and Exchange Commission registered
Notes due 2021
Amount:	$3 billion
Maturity:	March 29, 2021
Coupon:	6 3/8%
Price:	99.062
Yield:	6.504%
Spread:	Treasuries plus 310 bps
Price talk:	Treasuries plus 325 bps area
Notes due 2041
Amount:	$750 million
Maturity:	March 29, 2041
Coupon:	7 5/8%
Price:	98.084
Yield:	7.791%
Spread:	Treasuries plus 330 bps
Price talk:	Treasuries plus 345 bps area

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.