On 20 September 2021, WING issued green bonds with a total face value of HUF 25.3 billion through the Bonds for Growth Scheme (NKP) of the Central Bank of Hungary (MNB). 506 bonds with a fixed 3% annual interest rate and 10 year maturity were subscribed for a total amount of HUF 24.5 billion, which was fully accepted by the issuer. The average yield was 3.43% at the auction. The bonds comply with international and Hungarian sustainability criteria, and in line with international standards and requirements, WING will use the funds raised through them solely for environmentally friendly projects and assets. The company agrees, among other things, to work towards at least BREEAM “Very good” or LEED “Gold” environmental certification for new properties developed from these funds. In addition, the company will spend part of the funds raised through the green bonds on the renovation of its existing properties, with the aim to decrease their greenhouse gas emission by at least 30%.

“WING has long been committed to environmentally friendly real estate development and property management. This issue of green bonds was an important milestone for us: environmental considerations have already been a part of our architectural and technical design phases, and now they have been introduced to financial planning as well. It is a key objective of ours to set an example with our activities as a market operator and contribute to a shift towards environmentally friendly property development in Hungary. In addition, buildings with green certification and companies with sustainable goals not only have higher social value, but also have higher investment value, which means investing in them has clear financial benefits. Accordingly, the green bonds issued contribute greatly to our future growth goals,” said Noah Steinberg, Chairman and CEO of WING.

The development of the Green Bond Framework related to the issuance of green bonds was supported by WING's cooperating partner, MKB Consulting Zrt. MKB Consulting is a complex financial advisor that helps its partners to contribute to a more sustainable and greener economy.

WING is one of Hungary’s leading property developers and investors with a significant presence in the regional property market. In the over 20 years since its establishment in 1999, the company has developed 1.2 million sq m of real estate in Hungary. The company is active in every segment of the real estate market, including the development of offices, industrial and retail properties, hotels and residential properties. WING is also a significant player on the East-Central European real estate market. It is the majority owner of Poland’s largest residential property development company, ECHO Investment, which is listed on the Warsaw Stock Exchange. On top of that, WING also owns two office buildings in Sofia, Bulgaria.