Hungary’s Eurobond Plan Suggests EU Dispute Will Drag On
- Country seeks to offer as many as four U.S. dollar, euro bonds
- Hungary more than doubled its FX bond issuance plan for 2021
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Hungary plans to offer a range of dollar and euro bonds to shore up its budget as it’s facing a potential delay in accessing European Union funds because of a feud with the bloc over democratic values.
The country may sell 10-year and 30-year bonds in dollars, as well as seven-year and/or 20-year bonds in euros, according to a person familiar with the matter, who asked not to be identified because they’re not authorized to speak about it. Hungary’s debt management agency on Monday increased its cap for 2021 foreign-currency borrowing to 4.5 billion euros ($5.3 billion) from 644 billion forint ($2.2 billion).