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BUCHAREST - Romanian energy company Electrica has mandated multiple international banks to arrange investor meetings for a potential inaugural euro-denominated green bond offering, according to a press release statement issued Tuesday.
The company, which holds a BBB- stable rating from Fitch, has appointed Banca Comerciala Romana, BNP PARIBAS, Citi, ING, J.P. Morgan and Raiffeisen Bank International as Joint Global Coordinators and Joint Bookrunners. BT Capital Partners (WA:CPAP), IMI-Intesa Sanpaolo, Societe Generale (OTC:SCGLY) and UniCredit will serve as Joint Bookrunners.
Fixed income investor meetings are scheduled to begin Tuesday, with a potential Regulation S unsecured bond issuance to follow, subject to market conditions. If issued, the bonds are expected to receive a Fitch rating.
The securities would be offered exclusively to qualified investors as defined under European Union regulations and would be listed on the regulated markets of both the Luxembourg Stock Exchange and Bucharest Stock Exchange.
Electrica has published a Green Finance Framework along with a Second Party Opinion from Sustainable Fitch on its website. BNP Paribas (OTC:BNPQY) and ING acted as Joint Structurers for the framework’s establishment.
The bonds would not be available to private individuals who are Romanian tax residents and would be offered outside the United States in compliance with Regulation S under the U.S. Securities Act.
Alexandru Aurelian Chirita serves as Electrica’s Chief Executive Officer, while Stefan Alexandru Frangulea is the company’s Chief Financial Officer.
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