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NBH TARGETS 110 POTENTIAL ISSUERS WITH CORPORATE BOND BUYING SCHEME

 

The National Bank of Hungary (NBH) is targeting 110 potential issuers with a 300 billion forint corporate bond purchase scheme, central bank deputy governor Márton Nagy said at an international conference organised by the Budapest Stock Exchange. Nagy said the details of the programme will be published late in April, while a presentation for the 110 potential issuers would take place early in May. Evaluations of the companies will start early in June and last no longer than two months, he added. The first bond auctions could start on July 1, according to plan, he said.

NBH policy makers unveiled the programme, dubbed the Bond Funding for Growth Scheme, after a monthly policy meeting in March. Under the scheme, the NBH will purchase 300 billion forints of bonds issued by domestic non-financial corporations with a credit rating of “at least B+”.