Hungary Hires Banks For Bond Issue

Hungary’s government debt management agency, AKK, has appointed a group of lenders to arrange fixed income investor meetings, The Wall Street Journal reports. BNP Paribas, Citigroup and Deutsche Bank will organize the meeting in Europe and the U.S.

Hungary is planning to tap global bond markets to raise €4 billion in 2011. The issue may take place in several tranches. In January 2010, Hungary issued global bonds in dollars and raised $2 billion in 10-year bonds with a 6.25% annual coupon.

Click here for here for the story from The Wall Street Journal.