Appeninn Asset Management Holding has repaid almost HUF 7.5 billion of its various loan debts, thus prepaying 40 percent of its outstanding bank loans. The move was made possible, among other things, by the more than HUF 20 billion raised under the Growth Bond Programme, which the company intends to use to support its acquisition plans and reduce its financial market risks.

In recent weeks, two subsidiaries of Appeninn Asset Management Holding Plc. have successfully prepaid their various bank loans for a total of almost HUF 7.5 billion. Appeninn E-Office Zrt. repaid its loan of more than HUF 3.2 billion - originally due in 2025 - nearly 6 years before maturity. Another subsidiary of Appeninn, Appeninn BLT Kft., repaid its bank loan, originally due in 2021, for a total of HUF 4.1 billion.

With the repayment of these loans by the subsidiaries of Appeninn Asset Management Holding, the Group has additional opportunities to use the various financing options to further expand its portfolio of quality real estate.

According to Tamás Bernáth, CEO of Appeninn Nyrt., the early repayment significantly reduced Appeninn's bank loans by almost 40 percent. In addition to equity and bond financing, the company continues to see bank loans as an important financing option. The recent repayments have allowed them to replace their previously borrowed bank loans with fixed-rate funds repayable at the end of the 10-year term.