Hungary
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Hungary is planning a €1bn bond this year, but is also still looking for a window in the near future in which to issue a dim sum transaction.
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Hungary will not issue a dim sum bond until a period of sustained stability is seen in the Chinese markets, said bankers on Wednesday.
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Hungary will meet investors in Hong Kong and Singapore as it prepares to issue the first ever sovereign dim sum bond from the CEEMEA region.
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Hungary will meet investors in Hong Kong and Singapore as it prepares ground to issue the first ever sovereign dim sum bond from the CEEMEA region.
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In the last RMB round-up of 2015, HSBC became the first foreign bank to issue RMB-denominated CDs to corporates in China, Hungary plans RMB bonds in 2016 and Russian bank VTB saw a big boost to its RMB business in 2015. Plus, a recap of GlobalRMB’s top stories this week.
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Hungarian Development Bank (MFB) printed on Tuesday a €300m 2.375% six year bond, in line with price guidance released earlier that day, bringing a fresh euro benchmark to the country.
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The Hungarian Development Bank has mandated three banks for a global investor call in the hope of drumming up enough demand to print a euro-denominated Reg S bond.
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Hungary is planning a renminbi-denominated government bond in the hope of laying the foundation for eastern European entities to borrow from the RMB market and encourage related investment activity, its Ministry for National Economy said this week.
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CLS Group added the Hungarian forint to the list of currencies eligible for settlement. The group, which settles trillions of dollars in foreign exchange transactions a month, now settles payment instructions in 18 currencies.
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In this round-up, Hong Kong RMB clearing dropped in September, Macau's RMB deposits and cross-border settlement also fell in July, South Korea's RMB deposits kept contracting in September, and Bank of China Budapest branch formally launched RMB clearing services.
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Private equity firm Pamplona has completed the syndication of a €217m debt facility to buy Budapest-headquartered Partner in Pet Food (PPF).