October 26 (SeeNews) - The European Bank for Reconstruction and Development (EBRD) said it has invested 15 million euro ($15 million) in a 12-month commercial paper issue by Slovenian energy group GEN-I.
The commercial paper issue will support the immediate liquidity needs of GEN-I due to a significant increase in working capital requirements for its operations, the EBRD said in a project summary document on Tuesday.
On October 21, GEN-I said it sold 15.7 million euro worth of commercial paper in a reopening of the issue to three investors.
In May, GEN-I sold securities of the same issue worth a nominal 60 million euro. The company received binding offers from interested investors in a record-high amount of some 70 million euro, which led to the increase of the originally set borrowing amount of 50 million euro by 10 million euro.
GEN-I is an integrated supplier and trader of electricity and natural gas and provider of green energy services in Slovenia and Southeastern Europe (SEE).
($ = 0.99987 euro)
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