Hungary issued USD 4.25bn of dollar bonds in a transaction that was four times oversubscribed, under favourable conditions, at a low interest rate and long, 10- and 30-year maturities, Finance Minister Mihaly Varga said in a video posted on Facebook on Wednesday.

Mr Varga said Hungary would sell more euro-denominated bonds on Wednesday, details of which will be announced later in the day.

The Government Debt Management Agency (AKK) said Hungary sold USD 2.25bn billion worth of 10-year bonds with a 2.125pc coupon and USD 2bn worth of 30-year bonds with a 3.125pc coupon, at 100 basis points and 150 basis points over corresponding US Treasuries.

The issue was lead managed by BNP Paribas, Citi, Goldman Sachs Bank Europe SE and J.P. Morgan.

AKK on Monday said it modified its 2021 issue plan to make room for an additional EUR 4.5bn of FX bond issue to help cover a likely delay in European Union COVID recovery fund money, certain government expenditures in 2021 and for partial pre-financing of the 2022 budget deficit.