Hungary sold €3 billion ($3.43 billion) of Eurobonds in its first international bond issue since April elections, the government debt agency AKK said in a statement late on Monday.
The AKK said it sold €1.5 billion of five-year bonds and €1.5 billion of 10-year bonds, adding that the bond issue was nearly three times oversubscribed, with bids totalling more than €10 billion.
The five-year bonds had a 3.50% coupon at 80 bps above mid-swaps. The 10-year bonds carry a 4.25% coupon at 125 basis points over mid-swaps.
"The proceeds will be used for general financing purposes," the AKK said.
The bond issuance comes a week after Prime Minister Peter Magyar said that Hungary's 2026 budget deficit could exceed 7% of economic output. Magyar's government inherited a swelling budget after heavy pre-election spending by former Prime Minister Viktor Orban.
The centre-right Tisza government has pledged to submit an overhauled 2026 budget to parliament by the end of August, after an audit of public finances, as credit rating agencies are closely following efforts to restore credible fiscal planning.
At the end of last year, AKK flagged that it planned to sell $4.50 billion worth of bonds in 2026.
Hungary sold €3 billion ($3.43 billion) of Eurobonds in January, in line with its 2026 debt issuance plan.
($1 = 0.8750 euros)