March 6 (SeeNews) - Romanian power supplier and distributor Electrica [BSE:EL] plans to issue green bonds with a maximum maturity of 10 years worth up to 300 million euro ($326.3 million), it said on Wednesday.
Electrica is proposing to its shareholders to approve a ceiling of up to 300 million euro for a green bond issue or several subsequent issues of green bonds or sustainability-linked bonds, or a mix thereof, at their general meeting that will be held on April 25, the company said a statement filed with the Bucharest Stock Exchange, BVB.
The non-convertible, non-guaranteed bonds may be denominated in both lei and other currencies, with a fixed or variable interest rate, and may be issued in the 2024-2025 period on the Romanian or international capital market (EU and USA).
This announcement comes in the wake of last week's admission of Electrica's shares for inclusion in the FTSE Russell indices.
In 2023, Electrica booked a preliminary consolidated net profit of 620.4 million lei on a revenue of 13.333 billion lei, according to its unaudited financial report filed with the Bucharest bourse in February.
Electrica Group includes the parent company Electrica, in which the Romanian state owns a stake of 48.8%, and seven subsidiaries. Electrica shares are listed on the Bucharest Stock Exchange and its Global Depositary Receipts are listed on the London Stock Exchange.
Electrica's shares traded 0.49% lower at 12.2 lei as at 1652 CET on Wednesday on the BVB.
($=0.9194 euro)