Erste Bank Hungary issues debut, HUF 10.43 bln green bond

Banking

Erste Bank Hungary on Monday announced the issue of a HUF 10.43 billion green mortgage bond, the lender's first, according to a report by state news wire MTI.

Offers for the securities came to HUF 16.95 bln.

The average yield for the bonds was 4.27%. The bonds will mature on May 23, 2029.

Proceeds from the issue will be used over the next two years to refinance retail mortgage loans for homes meeting the strict energy efficiency requirements set in international standards, the bank said.

Chairman-CEO András Kármán said the green bond issue will contribute to making Hungarian homes more energy-efficient and sustainable. 

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