Duna Aszfalt to redeem 400 million USD in bonds linked to GED Africa project

Duna Aszfalt Zrt. has announced the voluntary redemption of bonds totaling approximately 400 million USD (roughly 126 billion HUF) plus interest, to be paid to EXIM Bank and MFB Bank. This move is linked to the financing of the GED Africa project, specifically the Kasomeno-Mwenda infrastructure development involving a bridge and border crossing between the Democratic Republic of the Congo and Zambia.

The redemption is intended to stabilize the project's financing structure and protect the international economic credibility of the Duna Group and Hungary. By repaying these bonds, an 80 percent state guarantee worth approximately 101 billion HUF will also be terminated, reducing financial risk for the Hungarian state.

While the company frames the decision as a move to ensure long-term stability and trust, the transaction follows an investigation by EXIM Bank that identified several cases of suspected abuse involving approximately one trillion HUF. Officials have indicated that further investigations are needed to determine how such high-risk, state-backed financing was approved for this construction.