State-controlled Romanian natural gas and energy group Romgaz (BVB: SNG) published the Base Prospectus for the EUR 1.5 billion Euro Medium Term Notes (EMTN) Programme, approved on September 20 by the market regulator in Luxembourg.<\/p>\n
“The largest bond issue by a company with majority state capital is thus launched. This move comes after the company previously obtained an excellent rating from Fitch (BBB- investment grade), a move that I personally supported in several discussions with the rating agency,” minister of energy Sebastian Burduja announced on Facebook.<\/p>\n
Romgaz is expected to launch an inaugural EUR 500 million bond under the EMTN scheme this month.<\/p>\n
The company’s management disclosed in July that this first issue may have a maturity of seven years and will most likely be denominated in euros. However, the final decision depends on the market circumstances at the time of the issue.\u00a0<\/p>\n
The company’s management also said that the bonds may be ‘passported’ to the Bucharest market.<\/p>\n
The EMTN is aimed at financing the Neptun Deep offshore gas project developed by Romgaz in a 50:50 partnership with OMV Petrom, but other projects as well. The first issue will allow the company to finance the development of Caragele (onshore) deposits, a photovoltaic park, and other future decarbonization plans.<\/p>\n
Romgaz has a market capitalization of RON 21.3 billion (EUR 4.3 billion) after its shares rose by 25.4% over the last year. The company distributed dividends from last year’s profit resulting in a 2.58% yield.<\/p>\n
iulian@romania-insider.com<\/em><\/p>\n (Photo source: Inquam Photos\/Adel Al-Haddad)<\/em><\/p>","protected":false},"excerpt":{"rendered":" State-controlled Romanian natural gas and energy group Romgaz (BVB: SNG) published the Base Prospectus for the EUR 1.5 billion Euro Medium Term Notes (EMTN) Programme, approved on September 20 by the market regulator in Luxembourg. “The largest bond issue by a company with majority state capital is thus launched. This move comes after the company […]<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1784","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/1784","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1784"}],"version-history":[{"count":0,"href":"https:\/\/ofero.news\/index.php?rest_route=\/wp\/v2\/posts\/1784\/revisions"}],"wp:attachment":[{"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1784"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1784"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ofero.news\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1784"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}