Hungary to Sell 4.5 Bln Euros of Bonds in 2012, Dow Jones Says

Hungary plans to sell 4.5 billion euros ($6.2 billion) of foreign debt and raise 900 billion forint ($4.3 billion) from local-currency bonds next year, Dow Jones Newswires reported, citing Gyula Pleschinger, the chief executive officer of the state debt management agency.

Hungary seeks to draw new investors, such as Russia, China and Arab countries, to its bond market, Pleschinger said, adding that Saudi Arabia is unlikely to “directly subscribe” to local debt, Dow Jones reported.