Hungary launches €1 billion offering of seven-year notes to yield mid-swaps plus 75 bps

By Rebecca Melvin

New York, Sept. 25 – The Republic of Hungary has launched a €1 billion offering of seven-year notes to yield mid-swaps plus 75 basis points, with final pricing expected later Tuesday, according to a market source.

Pricing was tightened from guidance of mid-swaps plus 85 and initial price talk of mid-swaps plus 100 bps.

Investor demand for the deal pushed the order book above €3.8 billion.

Deutsche Bank (billing and delivery), Erste Group and JPMorgan are bookrunners for the Regulation S notes.

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