Alteo Announces Intent to Launch HUF 20 bln Bond Program

Green Energy

Listed alternative energy company Alteo on Wednesday announced its intention to launch a HUF 20 bln bond program from the fall, according to a report by state news wire MTI.

Alteo aims to tap the market for as much as HUF 15 bln in Q4 2022, in the first phase of the bond program. It could issue bonds denominated in forints or euros with a term of between 1.5 to 3 years.

As part of the proceeds will be used for "green" investments, green bonds could be issued in the framework of the program.

The securities would be listed on the Budapest Stock Exchange's XBond platform. 

With the program, Alteo aims to ensure the resources to grow its business, finance increased needs for working capital, and boost security reserves to allow the company to react "with maximum flexibility" to future opportunities and challenges in the extraordinary market situation. 

Erste Bank Hungary is supporting Alteo with the bond program.

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