Hungary to issue euro-bond

BUDAPEST: Hungary will price a new 7-year euro-bond later on Wednesday and the guidance is in the 280 basis point area over mid-swaps, Thomson Reuters news and market analysis service IFR Markets said.

Hungary's Debt Management Agency AKK confirmed in a statement that it had mandated Deutsche Bank, ING and UniCredit to lead manage a euro benchmark bond issue.

Citing the bookrunners, IFR said the euro-bond is likely to take up the remainder of Hungary's 4 billion euro ($6 billion) foreign currency financing need for 2011, after issues worth $4.25 billion earlier this year.