The bonds were sold to a broad range of international institutional investors across Europe. The net proceeds will be used for repayment of existing Group indebtedness and general corporate purposes.
“It was our debut issue on the international capital markets and it was a nice surprise for us to see such strong interest of more than 80 investors. It is an expression of trust in our strategy and a confirmation of our strong position in the energy sector,” said Hana Hikelová, spokeswoman for ENERGO-PRO.
Investors’ great interest is illustrated by the fact that the orderbook was in excess of EUR 800 million.
ENERGO-PRO operates hydroelectric power stations in the Black Sea and Caucasus regions. Originally a Czech company, it gradually expanded to Bulgaria, Georgia, and Turkey. Total installed capacity of power stations owned by ENERGO-PRO is 854 MW and annual production of electricity exceeds 3 TWh. ENERGO-PRO is also active in distribution and sale of electricity, and owns and operates electricity distribution networks in Bulgaria and Georgia serving more than two million customers. The company is also active in cross-border power trading.
