Hungary Sells $4 Billion in Bonds to Fund Orban’s Budget Gap

Hungary sold $4 billion in a three-part dollar debt deal on Monday after the government decided to boost overseas borrowing to fund its budget.

The country garnered combined bids of more than $14 billion for the offering, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak publicly. The deal comprised $1.5 billion of long five-year notes, a $1 billion-sized long 10-year tranche and a $1.5 billion sale of 2055 maturity debt.