Over 100 investors participate in ENERGO-PRO bond issue led by J.P. Morgan and Citi

ENERGO-PRO Group positions itself as a company of strategic importance for the energy markets in the Black Sea region

Over 100 investors, including international financial institutions, banks, pension and investment funds and asset managers, took part in the ENERGO-PRO bond issue, successfully implemented jointly by J.P. Morgan and Citi on November 30, 2017.

ENERGO-PRO is positioned as a company of great strategic importance for the regional energy market, having diversified businesses, geographically diversified in Bulgaria, Georgia and Turkey, with a high percentage of stable revenues from regulated activities.

ENERGO-PRO debuted on the international debt markets, taking advantage of favorable market conditions. With this, the group increased its financial flexibility and switched to a centralized financing model.

The high interest in the issue, which was overwritten 2.2. times and generated orders of more than 800 million euros, is indicative of the success of the transaction.

53% of investors are asset managers, 17% - international financial institutions, 16% - banks, 11% - pension and investment funds.

The largest share of investors - 36% are from the UK, 15% are from Austria and Germany, another 15% are distributed in Western Europe, Central and Eastern Europe and the Commonwealth of Independent States, and 15% are from other Western European countries.

Taking into account the increased demand and the high quality of investors in the bond issue, ENERGO-PRO decided to increase the size of the bond in the negotiation process from 350 million euros to 370 million euros.