IN THE LATE 1990s, when the EU accession programme was laid out for 10 eastern and central European countries, Hungary soon established itself as the hot issuer. In terms of volume and sophistication it was the leading borrower among the accession states and so the most sought after client for investment bank mandate hunters.
However, Hungary has not been to the foreign-currency bond market for two years and Poland has now established itself as the new leader.
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