Alteo Energiaszolgáltató [Energy Service Provider] Plc. is launching a HUF 7.5 billion bond issue under its previously announced bond program; the funds raised will be used mainly to finance investments in energy projects, to achieve growth targets, for working capital needs and to build up reserves, the company announced on the Budapest Stock Exchange (BSE) website on Monday.
According to the information, the bonds will be sold at a stock exchange auction on October 18. The bonds will have a nominal value of 10,000 forints, the lowest bid will be 1 million forints, i.e. 100 bonds, and the highest bid will be unlimited.
The interest rate on the fixed-rate bond is 15.50 percent per annum, payable annually in arrears. The interest calculation will start on 20 October 2022, the maturity date is 28 May 2024 and the maturity is 586 days. Redemption is at par value. The distributor is Erste Bank.
Alteo said that the published terms and conditions have not yet been approved by either the National Bank of Hungary or the Budapest Stock Exchange.
The company announced on September 14 that it intends to launch a HUF 20 billion bond program from autumn 2022. In the high yield environment, the company prefers to issue bonds with a shorter maturity of 1.5-3 years, with the bonds being listed on the stock exchange.
Alteo Plc's shares are listed in the premium category of the Budapest Stock Exchange (BSE). The paper closed Monday's trading at HUF 2,700, with a year-to-date high of HUF 3,200 and a low of HUF 1,465.


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