AutoWallis raises HUF 6.7 bln with BGS green bond issue

Automotive

Listed car seller AutoWallis secured HUF 6.7 billion of financing with the issue of a green bond in the framework of the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB), auction data posted on the Budapest Stock Exchange website show.

AutoWallis offered HUF 6 bln of the 10-year bonds at the auction on Friday. Bids reached 10.8 bln.

The average yield for the bond, which carries a 3% coupon, was 2.89%, 37 bp over mid-swaps.

Earlier in July, AutoWallis announced plans to raise financing to make green investments at its dealerships and e-mobility developments, including installing more EV charging stations and adding more EVs and hybrids to its rental fleet as well as its owns fleet.

AutoWallis is rated B+ by Scope Ratings.

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