ÁKK Rt. has given mandate to lead manage a JPY bond issue for the Republic of Hungary

The Government Debt Management Agency Ltd. (ÁKK Rt.) has mandated Daiwa Securities SMBC Co. Ltd. and Mizuho Securities Co. Ltd. to lead manage a 2-tranche Samurai bond issue with 5 and 7 year maturity for the Republic of Hungary. The total size of the transaction will be JPY 50 billion.

The launch and pricing of the bond is expected in late June.

The proceeds - in line with the financing plan - will be used to re-finance public debt maturing in 2005.

Budapest, 13 May 2005