Hungary might issue more than JPY 50bn in Samurai bonds on Jun 28. Although initial plans were for JPY 50bn Samurai bond issue, the actual offer might be higher depending on market conditions, said deputy CEO of the State Debt Management Centre (AKK) Laszlo Buzas as quoted by newswire Dow Jones.
Buzas is on a roadshow in Japan to promote two-tranche bond issue, which is expected to be launched on Jun 28. Earlier AKK said that the two tranches will be 5- and 7-year securities, but the size of each one is not decided yet. Lead managers of the deal are Daiwa Securities and Mizuho Securities.
According to Buzas, Hungary might raise the reminder of its planned gross issuance through the Samurai bond. So far this year Hungary has placed the equivalent of some EUR 2.9bn on international markets, while the 2005 plan of AKK calls for EUR 3.5bn gross issuance. In order to reach the full-year target amount, the offer should be some JPY 80bn.