ROMGAZ has issued the first tranche of 5-year international bonds, worth EUR 500 million, to support investment plans
ROMGAZ has issued the first tranche of 5-year international bonds, worth EUR 500 million, to support investment plans. The demand from investors exceeded the supply by more than 10 times, and the award interest stood at the level of 4.776%.
ROMGAZ, through the proceeds from this issue, will finance the Neptun Deep project as well as the transition to a low-carbon company, according to the strategy approved by the shareholders.
The ROMGAZ team, made up of the General Manager - Razvan Popescu, the Deputy General Manager - Aristotel Marius JUDE and the Economic Director - Gabriela Trânbițaș, FCCA, held a series of meetings with investors where the feedback was favorable, reflecting the confidence in the company's development plans.
"We are pleased to announce the success of our inaugural bond issuance, worth EUR 500 million, part of ROMGAZ's EMTN program, which honors us and shows investors' confidence in the company's development plans. The book building process meant not only a record number of international investors, but also a demand of over 5 billion euros, which marks a premiere for the corporate bond issuance market in Romania. It is an even greater joy to be able to say that ROMGAZ, a Romanian company, has achieved such a performance on international markets, consolidating its position as a strategic player in the regional energy sector. We thank the shareholders, and especially the majority shareholder, for the trust and support given in the issuance and approval of this bond program," said Razvan Popescu.
Aristotel Marius JUDE, Deputy General Manager said: "The success of this bond issue confirms that investors have confidence in ROMGAZ's current and future plans, in the context in which natural gas remains a transition fuel without which energy security and continuity in energy supply cannot be ensured. Neptun Deep, a national strategic project, will benefit from this funding, ROMGAZ thus being a factor of stability in ensuring energy security for both Romania and the region. We remain committed to achieving ROMGAZ's strategic objectives and confident in the company's future".
"The result obtained following the first bond issue carried out by ROMGAZ is a proof of the professionalism and dedication of the colleagues and consultants who assisted us in this transaction and of the credibility that the company enjoys domestically and internationally. The success of this show makes us happy and motivates us even more to carry out the projects we have committed to, in order to demonstrate to investors, whether we are talking about shareholders or, now, bondholders, that the trust with which they have credited us is fully justified", said Gabriela Tranbitas, FCCA, Economic Director.