Romania's Chimcomplex to issue Eurobonds this year

Chimcomplex (CRC) is launching its first international bond issue and plans a capital increase of EUR 225 mln, said Stefan Vuza, president of Chimcomplex, in a press conference organized at the Bucharest Stock Exchange.

The company has been listed, since January 17, on the main market of BVB.

"The two capital actions mentioned are aimed at starting the strategic investments for relaunching the lines of chemicals in conservation. Both chemical platforms use only 20% of their capacity. We are also considering the construction of new product lines, which Romania is currently importing at exaggerated prices," said Vuza, quoted by daily Adevarul.

Chimcomplex's 2022-2030 Strategic Plan provides a total investment of EUR 2.5 bln and is the largest investment package in the chemical industry in 30 years, divided into three stages, Vuza added. The first package consists of the bond issue of EUR 350 mln (the largest international bond issue in Romania to date), followed by those on the capital market of EUR 225 mln.

In 2020, Chimcomplex had a turnover of RON 1.2bn, and in the first nine months of 2021, it reported a turnover of RON 1.7bn.

Chimcomplex Borzesti is owned by CRC Alchemy Holding, with 85% of the shares, and by the Romanian State, through the Authority for the Administration of State Assets, with 8.9%. The rest of the share capital, of about 5%, is owned by legal and retail investors.

(Photo courtesy of the company)