The Extraordinary General Meeting of Appeninn Nyrt. has been successfully held, authorizing the company to issue bonds of up to HUF 20 billion under the Growth Bond Programme announced by the Hungarian National Bank. The real estate investment company, which is listed in the Premium category of the Budapest Stock Exchange, obtained the qualification required to participate in the bond programme already in early October. The Company intends to use the proceeds of the issue primarily to support its acquisition targets in line with the implementation of its strategic plan.

Appeninn Asset Management Holding Plc held an extraordinary general meeting on 5 November, during which the company's shareholders authorised the Board of Directors to start the preparation of the planned bond issue under the Growth Bond Programme announced by the Hungarian National Bank. Following lengthy professional discussions, on 1 October 2019 the Company received the necessary rating for participation in the Growth Bond Programme from the international rating agency Scope Ratings GmbH, which assigned the bonds a BB- rating and the company itself a B+ rating.

The company would issue bonds worth up to HUF 20 billion. The company plans to issue bonds with a maximum maturity of 10 years this year. Scope Ratings in its evaluation highlighted, among other things, the 97 percent occupancy rate of Appeninn's real estate portfolio and its ambitious plans for acquisitions.

According to Tamás Bernáth, CEO of Appeninn, the upcoming bond issue is a significant step forward in the life of the company. With favourable conditions fixed for the long term, they will be able to raise funds that will enable a quantum leap in growth. The company's aim is to concentrate more on integrating higher quality, high-yielding properties into its portfolio.