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Opus plans HUF 39 bln BGS bond issue

MNB

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The board of listed holding company Opus Global will ask shareholders for authorization to issue a HUF 39 billion, 10-year bond in the framework of the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB) at an extraordinary general meeting on December 21, state news wire MTI reports, citing the EGM agenda published on Monday.

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Opus will use some of the proceeds from the issue to fund its planned acquisition of electricity distributor Titász from the local unit of Germanyʼs E.ON.

The company raised HUF 28.8 bln in a BGS bond issue in October 2019.

The central bank launched the BGS in the summer of 2019 to beef up Hungaryʼs relatively small corporate bond market. The program allocation stands at HUF 750 bln, according to the report.

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