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BUCHAREST - Romanian energy company Societatea Energetică Electrica S.A. announced Monday it is offering €500 million in five-year green senior unsecured notes, with J.P. Morgan SE serving as stabilization coordinator.
The offering, which will be listed on the Luxembourg Stock Exchange, is being managed by a consortium of nine financial institutions including J.P. Morgan SE, Banca Comerciala Romana, BNP Paribas (OTC:BNPQY), Citigroup (NYSE:C), ING, Raiffeisen Bank International, BT Capital Partners (WA:CPAP), IMI-Intesa Sanpaolo, and Societe Generale (OTC:SCGLY).
According to the press release, the stabilization period is expected to begin July 7, 2025, and end no later than August 7, 2025. During this period, the stabilization managers may over-allot securities not exceeding 5% of the aggregate nominal amount to support the market price.
The green bonds will be offered in denominations of €100,000, with the offer price yet to be determined. The securities will be available only through Regulation S registration and are categorized as Category 1.
The company noted that stabilization may not necessarily occur, and if begun, could cease at any time. Any stabilization action must end no later than 30 days after the issue date or 60 days after the allotment date, whichever comes first.
The securities have not been registered under the United States Securities Act of 1933 and will not be offered or sold in the United States.
This represents Electrica’s entry into the green bond market, joining other European utilities that have issued similar sustainable finance instruments.
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