June 29 (SeeNews) - Slovenian energy group GEN-I sold 30 million euro ($35.7 million) worth of 12-month commercial papers at an annual interest rate of 0.85%.
The proceeds from the new debt issue will go to finance the company's working capital and diversify its short-term financing sources, GEN-I said in a filing with the Ljubljana bourse on Monday.
Bids submitted by interested investors for the 12-month securities totalled 60 million euro, the statement read.
The bonds will be listed for trading on the Ljubljana bourse.
GEN-I last sold 25 million euro worth of 12-month bonds in July 2020 at an annual interest rate of 1.20%. Investor demand for the securities totalled 40 million euro.
GEN-I is a 50/50 joint venture companyof Slovenian state-owned energy group GEN Energija and its affiliate investment firm GEN-EL Nalozbe.
The group comprises GEN-I d.o.o. and its 14 subsidiaries, being present in Austria, Italy, Bulgaria, Serbia, Bosnia, Croatia, Macedonia, Kosovo, Albania, Greece, Turkey, Ukraine, Georgia and Slovenia.
($ = 0.83922 euro)
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