May 7, 2020 / 9:54 AM / 23 days ago

Hungary's banks can issue bonds worth up to HUF 150 bln -govt

BUDAPEST, May 7 (Reuters) - Hungary’s banks will be allowed to issue bonds worth up to 150 billion forints ($462.25 million) that the government will buy if they meet strict criteria to help lenders tackle the fallout of the coronavirus pandemic, the Finance Ministry said on Thursday.

It said any issuance cannot exceed 50 billion forints per bank and proceeds from bond sales can only be used to tackle financial fallout from coronavirus pandemic, helping banks to bolster their capital position and lending capacity if needed. ($1 = 324.5 forints) (Reporting by Gergely Szakacs)

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