Hungary
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Some CEE countries are already borrowing huge amounts in the Eurobond market -
Investors are feasting on extra spreads on offer in central and eastern Europe
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CEE banks are drawing heavy demand for new bonds
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Hungary has been borrowing in the yen market for 40 years
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Fair value is about 180bp over mid-swaps says a banker on the trade
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Issuers, especially banks, drew high demand
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Subordinated debt has formed most CEE FIG issuance since January
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At initial pricing MVM offered about 130bp over the sovereign curve
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CEE bank issuance far outstrips this time last year
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Kurali says investor green bond engagement has rocketed
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Deals away from the public market can offer cheaper pricing and new pockets of demand
