{"id":438,"date":"2021-10-20T11:13:00","date_gmt":"2021-10-20T11:13:00","guid":{"rendered":"https:\/\/moore-hungary.eu.moore-global.com\/?p=438"},"modified":"2025-12-03T14:04:49","modified_gmt":"2025-12-03T14:04:49","slug":"bayer-constructs-kotvenykibocsatasa-has-been-hit-with-a-bust","status":"publish","type":"post","link":"https:\/\/www.mooreglobal.hu\/en\/tuljegyzessel-zarult-a-bayer-construct-kotvenykibocsatasa\/","title":{"rendered":"BAYER CONSTRUCT BOND ISSUE OVERSUBSCRIBED"},"content":{"rendered":"

The construction group raised nearly HUF 30 billion in new funds at the auction held under the MNB's Growth Bond Programme<\/strong><\/p>\n\n\n\n

With significant investor interest, Bayer Construct Zrt. issued bonds yesterday with an oversubscription of almost 10 percent at par value. In the course of the transaction, carried out within the framework of the Hungarian National Bank's Growth Bond Programme (NKP), the company raised HUF 29.62 billion for new investments and refinancing of its previous loans. The average yield of the 10-year bonds at the auction was 3.9211 percent.<\/strong><\/p>\n\n\n\n

Moore Hungary Financial Advisory Kft. was the financial advisor responsible for the preparation of the information documents required for the issue, while Equilor Befektet\u00e9si Zrt. acted as the arranger and distributor.<\/p>\n\n\n\n

\u201eThe funds raised through the bond issue will be used to redeem previously raised working capital loans and to make new investments,\u201d said Istv\u00e1n Nemes, CFO of Bayer Construct Zrt. - This fundraising provides a very favourable opportunity to take full advantage of the opportunities offered by the current construction boom. Our Group has not been lacking in technological developments, and in recent years we have succeeded in implementing a number of world-class manufacturing processes in our domestic factories. The construction industry is in a state of flux and a major change of mindset is needed to sustain growth and income generation, which is difficult to achieve without investment.\"<\/p>\n\n\n\n

\u201eThe Growth Bond Programme provides domestic companies with a very favourable and long-term predictable source of financing,\u201d explained Gabriella Huth, Managing Partner of Moore Hungary, \"Our firm has participated in several similar projects, and our common experience has been that the favourable returns achieved in the auctions strengthen the growth potential of the issuing companies.\"<\/p>\n\n\n\n

\u201eThe pricing of Bayer's NKP issue is very favourable, practically in line with the 10-year zero-coupon government bond yield,\u201d points out Zal\u00e1n Volk, Corporate Finance Advisor at Equilor, \"Such a fixed-rate long-term structure is an outstanding advantage for the issuer in the current continuously rising yield environment.\"<\/p>\n\n\n\n

Bayer Construct Zrt. and its subsidiaries is one of the most influential groups in the Hungarian construction, contracting and development market, with more than 20 years of experience. It is the contractor of large-scale projects such as the Pusk\u00e1s Arena, Etele Plaza and Agora Budapest, and has significant references in the fields of residential and office construction, industrial facilities, commercial facilities, sports facilities, transport development, as well as earthworks and hydraulic engineering. Its activities cover the entire construction and real estate development vertical, from building materials production, real estate development and general construction to real estate sales and operation, in a unique way in the Hungarian market.<\/p>\n\n\n\n

Under the MNB's Growth Bond Programme, launched on 1 July 2019, the central bank will purchase a total of HUF 1,550 billion of bonds issued by domestic non-financial corporations with a good (at least B+) rating, thus helping domestic companies to rely on other forms of financing in addition to bank loans.<\/p>\n\n\n\n

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Moore Hungary<\/h2>\n\n\n\n

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Moore Global, which started in a London office more than 110 years ago, is now one of the world's leading consulting and audit networks. Present in over 100 countries worldwide, the network has more than 600 independent offices and over 30,000 employees. The group's turnover for the last financial year exceeded $3 billion.<\/p>\n\n\n\n

Moore Global's services will be directly available in the domestic market from March 2021. <\/strong>Moore Hungary has been offering a full range of consulting services in the fields of business, financial, tax, accounting and auditing with a team of almost 100 experts since its inception.<\/p>\n\n\n\n

In our fast-changing world, Moore provides strategic guidance and practical advice to help clients navigate and understand the complex regulatory and changing market environment and industry conditions, and thereby find the best solutions.<\/p>\n\n\n\n

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