Hungary Central Bank Scandal Spreads to Developer GTC’s Bond
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A crisis engulfing a Hungarian central bank foundation is causing ripple effects at Polish real estate developer Globe Trade Centre SA.
The yield on GTC’s euro-denominated bond surged last week and stood around 13% on Monday — almost five percentage points higher than a week ago. The company’s Warsaw-listed stock price has dropped as much as 8.3% over the last three sessions.