Romania’s Transelectrica closes bond offer early, after it was oversubscribed

Romanian electricity carrier Transelectrica closed its bond offer worth some EUR 45 million, one day ahead of schedule, after the offer was oversubscribed. The broker for this issuance was BCR and the final interest rate was set at 6.1 percent per year. “Transelectrica’s bond offer was oversubscribed and becomes a reference point for similar issuers. The increased interest from local and international investors is the evidence of a balanced mix between the issuer’s quality, yield, liquidity and the possibility to diversify the portfolio through instruments with local fixed income,” reads a statement of the company. Transelectrica plans to issue bonds with a total value of RON 900 million (some EUR 200 million) in the following years. The state controls Transelectrica with a 58.7 percent of the shares via the Public Finance Ministry, while investment fund Fondul Proprietatea has a 13.5 percent share package, and SIF Oltenia, some 6.8 percent. Irina Popescu, irina.popescu@romania-insider.com