State-controlled utility group Electrica (BVB: EL) on March 6 announced that it will seek shareholder approval for a green bond issue worth one billion euros (denominated in euros or other currency) during the period 2026-2027, according to a company note to investors. The maximum maturity of the bonds was set at 10 years.<\/p>\n
\u201cThe program may include one or more tranches\/series of bonds (issues), which may be green bonds or conventional bonds, or a mix thereof, denominated in RON, and\/or in other currencies, and may be issued on the Romanian or international capital market based on a flexible structure, with a fixed or variable interest rate. The bonds will be registered, non-convertible, unsecured, in dematerialised form by registration in the account, will be part of the same class of securities, and can be issued for a maximum maturity of up to 10 years,\u201d according to the note.<\/p>\n
The announcement comes after international rating agency Fitch on March 2 affirmed the BBB- assigned last July to Electrica\u2019s EUR 500 million 4.375% senior unsecured green notes due 14 July 2030.<\/p>\n
Electrica has a market capitalisation of nearly RON 9.7 billion (EUR 1.8 billion) after the price of its shares has more than doubled over the past year.<\/p>\n