Hungary has issued a USD 400 million (approx. HUF 160 billion) foreign currency bond issue in a closed loop in response to direct requests from investors. As announced by the Government Debt Management Agency, ÁKK, the term is up to 2041.
In March 2011, ÁKK issued a 30-year USD bond in two tranches for a total of USD 1.25 billion. Now, the bond has unexpectedly been increased by $400 million, bringing the total outstanding to $1.65 billion. The original interest rate is 7.625%, which still seems relatively expensive in the current environment.