In order to expand its investment portfolio and realise its growth plans, WING Zrt. will raise HUF 54.7 billion in funds through the Bonds for Growth Scheme of the Central Bank of Hungary. The term of the bonds subscribed by the Central Bank and other institutional investors is 10 years, with a yield of 3.56 percent. The success of the bond issuance reflects the market’s categorically positive assessment of WING’s professionalism, stability, reliability and market strength.
On Monday, May 18, WING Zrt., Hungary’s leading real estate development and investment company, had a successful bond auction under the Bonds for Growth Scheme launched by the Central Bank of Hungary, in which the Central Bank and qualified institutional investors subscribed corporate bonds totalling HUF 54.7 billion. The term to maturity is 10 years, while average bond yield is 3.56%. WING intends to use the funds raised to further expand its investment portfolio and implement its growth plans. The Central Bank of Hungary launched its corporate bond acquisition scheme last summer, raising its total allocation to 450 billion HUF last December.
In recent years, WING has become a leading actor of the Hungarian real estate market, today maintaining a significant regional presence covering all segments of the real estate market. In addition to core activities in the office building segment, WING’s portfolio includes industrial properties, commercial real estate, hotels and residential parks. WING is the market leading representative of the Hungarian office building sector, with world-class developments including the headquarters buildings of such leading global corporations as Magyar Telekom, Ericsson and Siemens-evosoft, whose HQ building is currently under construction. The company’s diversified real estate portfolio is a good reflection of WING’s prudent investment strategies. WING is active in development in Hungary and elsewhere in the region, including Poland. Additional WING investments currently underway include Liberty Offices, the BB Hotel, the Kassák Residence and Kassák Passage residential parks, as well as the Metropolitan Garden and Park West residential projects. In Poland, WING’s subsidiary, Echo Investment, is the country’s largest real estate developer. Its current projects include a number of residential and office buildings, including several mega projects defining their city’s image, such as the Brewery in Warsaw or Face2Face in Katowice. Achieving rapid growth in recent years, the property developer is expected to see further development in the coming years.