News Article bond Budapest financing green GTC Hungary investment issue
by Property Forum | Investment

On 3 December 2020, GTC’s subsidiary, GTC Real Estate Development Hungary Zrt., issued 792 pieces of senior unsecured bonds, with the nominal value of HUF 50 million each and the total value of HUF 39.6 billion (approximately €110 million). The bonds will be fully guaranteed by GTC S.A.

The tenor of the bonds is 10 years and the final maturity date was set for 7 December 2030. The bonds will be amortized 10% per annum starting from year 7th.

The bonds will be green bonds and proceeds from the bonds will be used to finance and refinance acquisition, construction or refurbishment of buildings which meet recognised green building standards, such as BREEAM (Very good and above) and LEED (Gold and above) in line with Group’s Green Bonds Framework.