Wingholding Zrt. has successfully issued bonds worth EUR 43.2 million euros.
According to Wing, “the company has accepted offers for a nominal value of EUR 43.2 million at a yield of 6.50% under a EUR 100 million bond program with a 3-year maturity, with significant oversubscription. The company intends to use the funds raised through the successful capital raising to exploit new investment opportunities and launch new real estate development projects.”
A total of 43,200 bonds, each with a nominal value of EUR 1,000, were subscribed during Wing’s bond issue, which closed on May 6. The group also informed investors that it had initiated the listing of all bonds issued during the subscription on the Budapest Stock Exchange.
“It is of utmost importance for Wing to provide funds to implement its growth strategy in a transparent manner, in line with market needs, and under internationally competitive conditions,” said Noah Steinberg, Chairman and CEO of Wing Zrt. “Through bond issuances, we not only strengthen investor confidence, but also offer our investors the opportunity to benefit from the results of the Hungarian real estate market as well as from our successful international investments with a professional partner. The strong investor interest and the more than double oversubscription clearly confirm Wing’s market leadership and its strong and stable position in the Central European real estate market.”