Romania’s Restart Energy One, an independent energy supplier that is also developing renewable energy projects, announced plans to issue 5-year bonds denominated in euros with a 9.5% coupon attached “to finance the company’s accelerated expansion.”<\/p>\n
It is not clear whether the bond issue is replacing or preceding the IPO announced by the company last October.<\/p>\n
The offering of the new corporate bonds is brokered by Tradeville. The offer will be conducted through a private placement addressed to a maximum of 149 retail investors.<\/p>\n
The company issued RON 16.4 million (EUR 3.3 million) 5-year bonds, denominated in local currency, in April 2021. The bonds, traded at Bucharest Exchange, were issued with a 9% coupon attached and are traded currently at a yield-t-maturity of 10.42%.<\/p>\n
The company says that, in the past two years, it has shifted its focus from energy supply to energy transition \u2013 meaning the development of renewable energy projects.\u00a0<\/p>\n
Restart Energy, one of the largest independent electricity suppliers in Romania, which has a bond issue underway on the Bucharest Stock Exchange (BVB), is preparing to raise “several tens of millions of euros” through a new share listing on the exchange in the spring of 2024, according to an announcement made by Valentin B\u00e2rg\u0103u, Restart Energy’s VP of corporate operations, at a conference last October.<\/p>\n
“We aim to list on the main market a package of about 30% through a capital increase. It’s a process we’re going through now,” he said.<\/p>\n
The funds obtained through the listing will be directed toward the development of all business lines.<\/p>\n