ENERGO-PRO a.s. has placed a EUR 250 million Eurobond issue


ENERGO-PRO a.s. issues Eurobonds worth 250 million in London. This is the second issue after the company sold a bond issue of 370 million in November. The proceeds will be used to repay current loans as well as for general corporate purposes, and will improve the effectiveness of the Group finances. The bonds mature on May 4, 2024, and carry a 4.5% annual coupon; the issue price is 100%.

The securities will be listed on the Irish Stock Exchange. S&P and Fitch have rated them BB- and BB respectively, in line with the corporate rating of the issuer ENERGO-PRO a.s.

The issue was distributed among more than 70 investors, representing both international and Bulgarian financial institutions. 54% of the investors are asset managers, 26% - banks and private banks, 19% - pension funds and insurance companies. The bonds purchased by Bulgarian financial institutions amount to over 15 million. The largest share of investors - 25% are from the UK, 21% from Austria and Germany, another 14% from France, the remaining 40% are distributed to Western, Central and Eastern Europe and the Commonwealth of Independent States.

The ENERGO-PRO Group has steady revenues from regulated activities, making it attractive on the international financial markets. The company is a significant investor in the energy sector. It operates hydropower plants and power distribution grids in Central and Eastern Europe and in the Black Sea and Caucasus regions.

Starting its operations in the Czech Republic, the company is gradually developing its operations in Bulgaria, Georgia and Turkey. The total installed capacity of the power plants owned by ENERGO-PRO is 854 MW, and the annual electricity generation exceeds 2.5 TWh. ENERGO-PRO is active in the distribution and sale of electricity and owns and manages power distribution grids in Bulgaria and Georgia serving more than 2.4 million customers. The company is also active in the cross-border trade in electricity.

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