Hungary's Masterplast may issue bonds up to HUF 6 billion

Masterplast is to hold an EGM on 14 October 2019.

Shareholders are to take a decision on a bond issuance of up to HUF 6 billion in the framework of the central bank's (MNB) Bond Funding for Growth Scheme (BGS), and also on authorising the Board of Directors to determine the further necessary details and to execute the bond issue.

The funds to be raised in the bond issue are to be used to optimise the financing structure of the company.

A condition of the bond issuance is a rating of at least B+ at a credit rating agency. On 9 September, Scope Ratings assigned a B+ issuer rating to Masterplast, with a Stable Outlook. Senior unsecured debt is rated B+.

Masterplast's share price is close to its all-time high; it rose 15% so far this year.