The Capital Markets News section is powered by the Bucharest Stock Exchange 

 

BSE

 

Romania’s utility firm Electrica prepares EIB and bank financing to boost distribution network

22 October 2024

Romanian electricity utility firm Electrica (BVB: EL) convened its shareholders on December 11 to clear the extension of guarantees for a EUR 200 mln credit that its subsidiary handling the distribution network DEER seeks to contract from the European Investment Bank (EIB) for financing its three-year investment plan, according to a note to investors.

At the same time, Electrica’s shareholders are required to extend the terms of a RON 450 mln (EUR 90 mln) facility agreement contracted with Erste Group Bank and Raiffeisen Bank in November 2021. The availability date will be prolonged by one year, and the terminal date will be extended by four years.

The EIB loan, which can be signed in one or several agreements, will be guaranteed by Electrica through an independent first-call guarantee (or another form), valid until the full fulfillment of the obligations arising from the agreement/ guarantee.

In the first half of the year, Electrica reported operating revenues of RON 4.7 bln, down 29% y/y, and a net profit of RON 102 mln, RON 40 mln below the level of the similar period of 2023.

The company’s market capitalization is RON 4.6 bln (EUR 0.9 bln) and is 49.8% owned by the Romanian state through the Ministry of Energy. 

iulian@romania-insider.com

(Photo source: Florin Brezeanu/Dreamstime.com)

Normal

Romania’s utility firm Electrica prepares EIB and bank financing to boost distribution network

22 October 2024

Romanian electricity utility firm Electrica (BVB: EL) convened its shareholders on December 11 to clear the extension of guarantees for a EUR 200 mln credit that its subsidiary handling the distribution network DEER seeks to contract from the European Investment Bank (EIB) for financing its three-year investment plan, according to a note to investors.

At the same time, Electrica’s shareholders are required to extend the terms of a RON 450 mln (EUR 90 mln) facility agreement contracted with Erste Group Bank and Raiffeisen Bank in November 2021. The availability date will be prolonged by one year, and the terminal date will be extended by four years.

The EIB loan, which can be signed in one or several agreements, will be guaranteed by Electrica through an independent first-call guarantee (or another form), valid until the full fulfillment of the obligations arising from the agreement/ guarantee.

In the first half of the year, Electrica reported operating revenues of RON 4.7 bln, down 29% y/y, and a net profit of RON 102 mln, RON 40 mln below the level of the similar period of 2023.

The company’s market capitalization is RON 4.6 bln (EUR 0.9 bln) and is 49.8% owned by the Romanian state through the Ministry of Energy. 

iulian@romania-insider.com

(Photo source: Florin Brezeanu/Dreamstime.com)

Normal
 

facebooktwitterlinkedin

1

Romania Insider Free Newsletters