MOL issues HUF 35.5 bln BGS bond
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.
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