Bank of China Hungary uses €500 mln bond to finance local company

Pharma

The Hungarian branch of the Bank of China will use proceeds from a €500 mln bond for upgrades at local chemicals company BorsodChem, a member of Chinaʼs Wanhua group, and the state-owned Hungarian Electricity Works (MVM) – as well as several other local businesses – news agency Xinhua said on Friday, citing the head of the branch. 

Chen Huaiyu said the bond issue showed the high level of confidence foreign investors have in the future economic progress of Hungary and Central and Eastern Europe.

The bond issue was an important step in the implementation of the memorandum of understanding between China and Hungary on their governmentsʼ support for the establishment of the Silk Road Economic Belt and the 21st Maritime Silk Road signed earlier in June.

The Hungarian branch of the Bank of China plans to accelerate the development of its Central European organizations, promoting the realization of new investment plans in the region by Chinese businesses, Xinhua said.

ADVERTISEMENT

Business confidence falls slightly in June Analysis

Business confidence falls slightly in June

Lawmakers approve 2022 budget Parliament

Lawmakers approve 2022 budget

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest launches revamped coupon card for visitors City

Budapest launches revamped coupon card for visitors

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.