By Reshmi Basu
New York, June 28 - The Republic of Hungary priced a combined ¥75 billion of five- and seven-year samurai bonds (//A-), according to a market source.
The deal, increased from ¥50 billion, was comprised of ¥30 billion in five-year bonds and ¥45 billion of seven-year bonds.
The five-year tranche priced at par to carry a coupon of 0.62%.
Meanwhile the seven-year tranche priced at par to bear a coupon of 0.96%.
Daiwa Securities SMBC and Mizuho Securities were the lead managers.
Proceeds from the sale will be used to refinance public debt maturing in 2005.
| Issuer: | Republic of Hungary
|
| Issue: | Two-tranche offering of samurai bonds
|
| Total amount: | ¥75 billion
|
| Pricing date: | June 28
|
| Settlement date: | July 12
|
| Rating: | Fitch: A-
|
|
|
| Five-year tranche
|
| Amount: | ¥30 billion
|
| Maturity: | July 12, 2010
|
| Coupon: | 0.62%
|
| Issue price: | Par
|
| Spread: | 12 basis points more than yen-Libor rate
|
|
|
| Seven-year tranche
|
| Amount: | ¥45 billion
|
| Maturity: | July 12, 2012
|
| Coupon: | 0.96%
|
| Issue price: | Par
|
| Spread: | 14 basis points more than yen-Libor rate
|
|
|
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