Romania’s state-controlled Electrica seeks EUR 1 bln bond issue

State-controlled utility group Electrica (BVB: EL) on March 6 announced that it will seek shareholder approval for a green bond issue worth one billion euros (denominated in euros or other currency) during the period 2026-2027, according to a company note to investors. The maximum maturity of the bonds was set at 10 years.

“The program may include one or more tranches/series of bonds (issues), which may be green bonds or conventional bonds, or a mix thereof, denominated in RON, and/or in other currencies, and may be issued on the Romanian or international capital market based on a flexible structure, with a fixed or variable interest rate. The bonds will be registered, non-convertible, unsecured, in dematerialised form by registration in the account, will be part of the same class of securities, and can be issued for a maximum maturity of up to 10 years,” according to the note.

The announcement comes after international rating agency Fitch on March 2 affirmed the BBB- assigned last July to Electrica’s EUR 500 million 4.375% senior unsecured green notes due 14 July 2030.

Electrica has a market capitalisation of nearly RON 9.7 billion (EUR 1.8 billion) after the price of its shares has more than doubled over the past year.

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