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CMS advises on the very first bond issue within the Bond Funding for Growth Scheme

18 September 2019

CMS Hungary advised OTP Bank Plc. (arranger) on issuing by Pannonia Bio the first Hungarian Forint Bond in line with the Bond Funding for Growth Scheme (BGS) announced by the Central Bank of Hungary back in July.

During this transaction, Pannonia Bio held a successful bond auction and managed to sell HUF 15 billion to the Central Bank of Hungary.

As part of the BGS, the Central Bank purchases bonds with good ratings issued by non-financial corporations as well as securities backed by corporate loans from a HUF 300 billion funding pool.

Congratulations to our Banking & Finance team which consisted of Partner, Erika Papp, Senior Consultant Árpád Lantos and Junior Associate Zsolt Beregi.