The strong interest in Hungary's JPY25 billion Samurai bond forced the State Debt Management Agency to double the original offer, AKK announced. We recall that lead managers of the transaction are Daiwa Securities and NikkoCitigroup. The seven-year papers carry a 1.67% fixed rate and will be priced at par thus translating to yield of 10 basis points over Yen Libor. The pricing is in line with the nine to 10 bps guidance rumored last week. We note that in June 2005, Hungary carried another issue of the seven-year Samurai bond, which carried 0.96% annual coupon and was priced at 14bps over the benchmark. According to unconfirmed report on Dow Jones newswire, some 75% of the current order book came from Japanese investors, with the remaining divided between the rest of Asia and Europe.