Disclaimer: The Hungarian language version of this Public Offer
shall be exclusively legally binding and controlling in each and every respect.
The following text serves information purposes only. The non-binding English
translation is as follows:
PUBLIC OFFER
on issuing of Discount Treasury Bills
General information
The Republic of Hungary („the Issuer”),
pursuant to the authorization set down in the Government Decree 286/2001.
(XII.26.) on treasury bills and in accordance with the Act on the Budget of the
Republic of Hungary for the given year issues treasury bills („Discount
Treasury Bills”) .
The Discount Treasury Bill constitutes the obligation of the Issuer to pay the
current holder the principal indicated in the Discount Treasury Bill at the
time and in the manner specified thereof.
No extinction shall be applied to the claim to the principal of Discount
Treasury Bills.
The proceeds of the issue will be used to finance the central budget deficit
each year and to renew the maturing government debt. The debt incorporated by
discount Treasury bill constitutes a part of the government debt.
1. Terms and Conditions of the Discount Treasury Bill
under issue
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Range number:
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D040428
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ISIN-code:
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HU0000514583
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Issue Date:
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28.01.2004
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Redemption Date:
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28.04.2004
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Base Denomination:
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HUF 10.000 (Hungarian Forint ten thousand)
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Type of security:
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dematerialised form
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2.
Terms and Conditions of the Issue
The Discount Treasury Bills are sold
through auction.
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Date of the Auction:
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20.01.2004
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The bids to
be submitted not later than:
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20.01.2004. 11.00 a.m.
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Announced
offering amount:
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HUF 20.000.000.000, say HUF twenty Billion
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Settlement Day:
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28.01.2004.
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3. Repayment, redemption:
The principal shall be repaid on the
redemption date in one single amount. The Issuer shall not redeem Discount
Treasury Bills before redemption date.
4.
Eligible investors
The Discount Treasury Bill may be purchased
by and can be freely traded among resident and non-resident natural and legal
persons, non-incorporated economic associations before maturity. Non-residents
may purchase and transfer the Discount Treasury Bill with obeying the
regulations that are set forth in the relevant Hungarian legislation on Foreign
Exchange in force.
Other information
The actual yield rate (unified security yield rate -
UYR) available through secondary market purchases is contained in the price
table displayed in the sales offices in line with the Government Decree no.
41/1997 (III. 5.).
The general terms and conditions relating
to issuing and distribution of Discount Treasury Bills are set down in ”Prospectus
on Public Offering of Discount Treasury Bills, dated 26 May, 2003” which
may be inspected at the premises of the branch network of the Hungarian State
Treasury and the primary dealer companies.
14.
January, 2004 Budapest
Government
Debt Management Agency Ltd.
