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 Hungarian Government Bonds
General
information
The
Republic of Hungary (“the Issuer”), pursuant to the authorization set down in
the Government Decree No. 285/2001. (XII.26.) on bonds and in accordance with
the Act on the Budget for the given year issues Hungarian Government Bonds
(“Government Bonds”).
The Government Bond constitutes the obligation of the Issuer to pay the current
holder the predetermined interest of the principal and the principal indicated
in the Government Bond at the time and in the manner specified thereof.
No extinction shall be applied to the claim to the interest and the principal
of Government Bonds.
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
government bond constitutes a part of the government debt.
1. Terms and
Conditions of the Government Bond under issue
|
Name
(series):
|
Hungarian
Government Bond 2014/C
|
|
ISIN-code:
|
HU0000402193
|
|
Issue Date:
|
19. June
2003.
|
|
Redemption
Date:
|
12.
February 2014.
|
|
Base
Denomination:
|
HUF 10.000,-Ft
(Hungarian Forints ten thousand)
|
|
Form of
security:
|
dematerialised
|
2.
Terms and
Conditions of the Issue
The Government Bonds are issued through auction.
|
Date of the
Auction:
|
22.
January, 2004.
|
|
The bids to be submitted not later
than:
|
22. January,
2004.
|
|
Announced offering amount:
|
HUF
25.000.000.000 (Hungarian Forints Twentyfive Billion)
|
|
Settlement
Day:
|
28.
January, 2004.
|
|
Gross value
(price to be paid):
|
Net price
accepted at the auction accumulated with accrued interest (interest accrued
until 28. January, 2004: 3.3603%).
|
3. Interest, Interest Payment, Redemption
Interest:
The Government Bond is a fix rate security with annual interest
payments, the rate of interest is 5.50% p.a.
The first interest period is the time elapsed between the issue date
and first interest payment date (238 days), the payable interest is the
pro-rata amount of the annual interest.
|
The Interest Payment is effected annually at the following rates
on the following days:
|
2004. February 12.
|
3.59%
|
|
|
2005.
February 12.
|
5.50%
|
|
|
2006.
February 12.
|
5.50%
|
|
|
2007.
February 12.
|
5.50%
|
|
|
2008.
February 12.
|
5.50%
|
|
|
2009.
February 12.
|
5.50%
|
|
|
2010.
February 12.
|
5.50%
|
|
|
2011.
February 12.
|
5.50%
|
|
|
2012.
February 12.
|
5.50%
|
|
|
2013.
February 12.
|
5.50%
|
|
|
2014.
February 12.
|
5.50%
|
Redemption, repayment:
The redemption of the Hungarian Government Bonds shall be effected
in one amount. The issuer shall not redeem the Bond before the Redemption Date.
4. Eligible Investors
The Government Bond may be purchased by resident and non-resident
natural and legal persons, non-incorporated organisations. Non-residents may
purchase and transfer Government Bonds with obeying the regulations that are
set forth in the relevant Hungarian legislation on Foreign Exchange in force.
Other Information
General Terms and Conditions relating to issuing and distribution of
Government Bonds are set down in ”Prospectus on Public Offering of
Government Bonds (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.
15. January
2004, Budapest
Government Debt
Management Agency Ltd.
