Russia and Hungary enter euro bond market for last minute cash

By Mariam Meskin
12 Nov 2020

The Russian Federation and the Republic of Hungary brought euro-denominated trades on Thursday, taking the opportunity to get funding done during good conditions in the run-up to the US Thanksgiving holiday, after which liquidity is expected to dry up.

Hungary issued a Reg S dual tranche 10 and 30 year €2.5bn bond. A €1.25bn November 2030 clip carried initial price thoughts of 110bp area over mid-swaps before being priced at 85bp over, while a €1.25bn November 2050 piece was marketed at mid-swaps plus 185bp and priced at 160bp ...

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