Futureal issues green bonds under BGS
Shutterstock.com
Hungarian property developer Futureal issued a green bond with a nominal value of HUF 55 billion under the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB), according to gazdasagportal.hu.
Futureal said 70% of the issue was subscribed by institutional investors. In addition to the MNB, 12 banks, insurers, investment fund managers and assets management companies bought the papers.
Futureal founder and co-owner Gábor Futó said the developer is "proud to play an active role in re-starting the Hungarian economy," noting that it has more than one million square meters under development in the country. Auction data posted on the website of the Budapest Stock Exchange shows Futureal raised just over HUF 57.3 billion with the issue of the 10-year bond.
Futureal had offered HUF 50 bln of the securities and bids came close to HUF 57.8 bln. The average yield for the bond, which carries a 4% coupon, was 3.4652%, 100 basis points over midswaps.
Hungary Gasoline Prices 3% Over Regional Avg
Hungary to Address Future of Cohesion Policy During EU Presi...
Cordia’s Marina City Project Begins
Budapest Airport Wins 'Best Airport in Eastern Europe' for 1...
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.
