Alteo Shelves Bond Issue
Listed alternative energy company Alteo on Thursday announced a decision to shelve a bond issue, according to a report by state news wire MTI.
Alteo's board decided the company "does not currently wish to issue bonds" after weighing its current and "most likely" future financing sources and conditions.
The decision does not rule out the possibility that Alteo will issue a security at a later stage during its twelve-month bond program announced on October 10, 2022, the company added.
Alteo earlier postponed the auction of a HUF 7.5 billion bond, originally scheduled for October 18, for a maximum of 20 days because of the "volatile money and capital market situation".
In September, Alteo announced its intention to launch the HUF 20 bln bond program to ensure resources to grow its business, finance working capital, and boost security reserves to allow the company to react "with maximum flexibility" to future opportunities and challenges.
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