Appeninn repaid loans of almost HUF 7.5 billion

2019
December
20
News

Appeninn Vagyonkezelő Holding repaid different loans of almost HUF 7.5 billion, which constitutes 40% of the company’s bank loans. This measure was supported by the more than HUF 20 billion from the Bond Funding for Growth Scheme, which is intended to be used for the decrease of money market risks besides the support of the acquisition plans.


In the recent weeks, two subsidiaries of Appeninn Vagyonkezelő Holding Plc. repaid several bank loans, of an amount of almost HUF 7.5 billion. Appeninn E-Office Zrt. repaid loans of almost HUF 3.2 billion almost 6 years prior the maturity, as the original expiration was in 2025. Another subsidiary of Appeninn, Appeninn BLT Ltd. repaid bank loans of HUF 4.1 billion, the maturity of which was in 2021.

By the subsidiaries of Appeninn Vagyonkezelő Holding repaying the above loans, the group had further opportunities to use the different financing options for the expansion of the quality property portfolio.

According to Tamás Bernáth, the Chairman and CEO of Appeninn Plc., these repayments significantly decreased Appeninn’s loans by almost 40%. Besides shares and bonds financing, bank loans are still regarded as significant financing options by the company. These repayments allow the redemption of the bank loans to fixed interest resources to be repaid at the end of a 10-year maturity period.