The company will issue up to 65,000 dematerialized, non-guaranteed, non-convertible bonds with a maturity of five years, at a nominal value of 100 euro apiece, it said in a press release filed with the Bucharest Stock Exchange, BVB.
The bonds will have a coupon rate of 9.5% and an early pay-back premium of 1.5% of the bond loan value.
Restart Energy plans to use the proceeds from the bond issuance to continue its accelerated development, as per the statement.
"In the coming years, the Company aims to consolidate its business in the rooftop segment, complete and commercialize Utility Scale projects developed through SPVs, expand its portfolio of large and very large industrial clients, and increase the share of green energy supplied by developing its own photovoltaic parks," Restart Energy said.
The company currently has one bond [BSE:REO26] issue trading on the BVB.
Last week, Restart Energy said that subsidiary Agrovoltaics signed a grid connection contract worth 56 million lei ($12.1 million/11.3 million euro) with Romania's power grid operator Transelectrica [BSE:TEL].
In 2023, Restart Energy's net profit plunged by 77% to 5 million lei.
Blue-chip Transelectrica's shares traded 1.23% lower at 36.05 lei as at 1250 CET on Monday on the Bucharest bourse.
(1 euro=4.9765 lei)