New Issue: Hungary sells €1 billion seven-year bonds at mid-swaps plus 12 bps

By Reshmi Basu

New York, Oct. 25 - The Republic of Hungary priced €1 billion seven-year bonds (A1/A-) at 99.454 with a 3 5/8% coupon to yield 3.715%, or mid-swaps plus 12 basis points, according to a market source.

The deal came in line with price talk of mid-swaps plus 12 basis points.

JP Morgan and Dresdner Kleinwort Wasserstein are running the Regulation S deal.

Issuer:	Republic of Hungary
Amount:	€1 billion
Issue:	Eurobond
Maturity:	Oct. 28, 2011
Coupon:	3 5/8%
Issue price:	99.454
Yield:	3.715%
Spread:	Mid-swaps plus 12 basis points
Pricing date:	Oct. 25
Settlement date:	Oct. 28
Lead managers:	JP Morgan, Dresdner Kleinwort Wasserstein
Ratings:	Moody's: A1
	Standard & Poor's: A-

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