MOL issues HUF 35.5 bln BGS bond

Deals

Photo by MOL

Hungarian oil and gas company MOL issued HUF 35.5 billion of 10-year securities in the framework of the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB) on Thursday, according to a report by state news wire MTI.

The yield on the bonds, which carry a 1.9% coupon, was 1.926%, 67 bp under midswaps.

The bond is amortized: MOL will repay 10% in 2028, 10% in 2029, 10% in 2030 and 70% at maturity.

MOL said on Tuesday that it was considering another issue in the central bank bond scheme.

MOL raised HUF 36.6 bln in a BGS issue in September 2020. A year before that, it sold HUF 28.4 bln of bonds in the framework of the scheme.

The central bank launched the BGS in the summer of 2019 to beef up Hungary's relatively small corporate bond market. The program allocation stands at HUF 1.15 trillion.

ADVERTISEMENT

Companies Borrow HUF 256 bln in October Banking

Companies Borrow HUF 256 bln in October

MPs Approve Tax Changes Parliament

MPs Approve Tax Changes

Mahart Container Center Depot Opening at Budapest Airport Transport

Mahart Container Center Depot Opening at Budapest Airport

Countries Exchange Experiences for Better Production of Catt... Conferences

Countries Exchange Experiences for Better Production of Catt...

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.