The Hungarian Government has appointed Daiwa Securities SMBC and Nikko Citigroup as joint book runners for the issue of a 7-year Samurai bond. It will be launched on 17 March with a coupon of 1.67%.
The originally planned offer has been increased from Yen 25 to Yen 50 billion and the yield guidance narrowed from 5-15 bps to 9-10 bps above mid-swaps.
Hungary is currently rated ‘A-‘ by Standard & Poor’s; ‘A1’ by Moody’s Investors Service; and ‘BBB+’ by Fitch Ratings.