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Wingholding raises HUF 24.5 bln from BGS bond sale

MNB

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Hungarian property developer Wingholding raised HUF 24.5 billion from the sale of a 10-year bond under the Bond Funding for Growth Scheme (BGS) of the National Bank of Hungary (MNB), according to auction data posted on the website of the Budapest Stock Exchange.

Wingholding had offered HUF 25 bln of the securities with a 3% annual coupon.

Bids reached HUF 25.3 bln. Average yield was 3.44%, 27 basis points over mid-swaps.

In August, Wingholding published a framework for the issue of green bonds to increase its investments in "green and sustainable" projects by developing new buildings with improved energy efficiency and upgrading the energy efficiency of existing buildings. Wingholding raised HUF 54.4 bln with a BGS bond issue in the spring of 2020.

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