Hungary Exceeds Target in Auction of Debt Maturing in Three or More Years

Hungary today raised 57.5 billion forint ($265.4 million) in the sale of bonds, more than the 50 billion forint planned, as investors submitted bids nearly three times the tendered amount.

The government sold 20 billion forint of bonds due in 2014 at an average yield of 7.13 percent, compared with 6.92 percent on July 15, according to auction results on the debt management agency’s Bloomberg page. It sold 22.5 billion forint of 2016 notes at 7.14 percent versus 7.22 percent and 15 billion forint of 2023 bonds at 7.09 percent compared with 7.10 percent on May 6. Bids totaled 147.3 billion forint, the results showed.

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