ROMGAZ is listing on the Bucharest Stock Exchange the second issue of bonds amounting to EUR 500 million
Societatea Națională de Gaze Naturale ROMGAZ S.A, the largest producer and main supplier of natural gas in Romania, company listed on the Bucharest Stock Exchange (BVB) for 12 years (ticker symbol SNG), is listing their second bond issue, worth EUR 500 million, on the Regulated Market of the Stock Exchange. The bonds are listed on the Bucharest Stock Exchange under the ticker symbol SNG31E and have a maturity of 6 years.
The bonds were previously admitted to trading on the Luxembourg Stock Exchange in November 2025. This issue, like the first one, is part of ROMGAZ's EMTN (Euro Medium Term Notes) program, which allows the company to access international capital markets for financing, with a total value of up to EUR 1.5 billion. At present, the value of the two bond issues is EUR 1 billion, the first of which was listed last year, on November 19, 2024.
The corporate bonds will reach maturity on November 4, 2031. The bonds have a fixed annual interest rate of 4.625% and have been assessed using the rating "BBB-" by Fitch Rating Agency. The subscription process for this bond issue took place on October 28, 2025.
The funds raised will support ROMGAZ in the development of the national strategic project, Neptun Deep in the Black Sea, which has the potential to turn Romania into the second largest natural gas producer in the European Union. At the same time, through projects such as Neptun Deep, ROMGAZ offers solutions to reduce carbon emissions at national level, making the transition from coal to natural gas.
„ROMGAZ has been a successful company on the local capital market ever since its debut in 2013, when it carried out one of the largest IPOs conducted by the Romanian state on the stock exchange. Currently, ROMGAZ ranks third by weight in the benchmark BET index and second in the sectoral BET-NG index, which includes companies listed on the BVB from the energy and related utilities sector. We are glad that ROMGAZ is actively involved in strategic projects at the national level, such as Neptun Deep, that it regularly makes use of capital market mechanisms to finance them, and thus contributes to the expansion of Romania’s investment environment”, said Radu Hanga, President of the Board of Directors of Bucharest Stock Exchange.
”In the 12 years of presence on the capital market, ROMGAZ has consolidated their important role in the local energy sector and in Romania's economic growth, being a key player in the strategic project of national importance, Neptun Deep. ROMGAZ is an example of performance among issuers listed on the Bucharest Stock Exchange, and we are confident that they will make a significant contribution to the recognition of the local capital market as an Emerging Market by MSCI. We congratulate ROMGAZ team on their second successful bond issue and stand by them in their ongoing development plans”, declared Remus Vulpescu, CEO of Bucharest Stock Exchange.
„The second bond issue is an integral part of ROMGAZ's strategy and reflects our ongoing commitment to transparency, corporate governance, and the sustainable development of the Romanian capital market. Through this initiative, ROMGAZ facilitates access for local and international investors to their financing instruments and strengthens the integration of the Romanian capital market into European financial flows. The bond issue is part of a prudent and diversified financing strategy designed to support the implementation of the company's strategic projects, in particular the Neptun Deep project, which has a direct impact on national and regional energy security, and on energy transition objectives as well. In this context, ROMGAZ places particular emphasis on financial discipline, maintaining a solid risk profile, and the efficient use of raised capital. By listing these financial instruments on the Bucharest Stock Exchange, we reassert ROMGAZ's role as a leading issuer on the Romanian capital market and a credible institutional partner for investors and authorities. The company will continue to use capital market mechanisms in a responsible and predictable manner, in line with the European regulatory framework and institutional investor expectations, while contributing to the consolidation of the local financial market.”, emphasized Răzvan Popescu, CEO ROMGAZ.
The listing of bonds on the BVB was achieved with the support of BT Capital Partners, a member company of the Banca Transilvania Financial Group, specialised in brokerage services, assistance with listing on the capital market and with attracting investors, consultancy for merges and acquisitions, attraction and structuring of complex fundings, market research and strategic consulting.
“In addition to strong financial results, share price appreciation, and the stability of ratings issued by specialized agencies, the recurrence in issuing financial instruments is one of the main mechanisms through which an issuer can reaffirm its positive trajectory on the capital market. With yet another successful bond issuance—featuring a longer maturity, a high level of oversubscription, and offering yields that are both attractive and lower compared to the previous exercise—ROMGAZ and the consortium, of which we are proud to be a part, have succeeded in marking a new important milestone along this path. As of today, the instrument becomes more easily accessible to local investors through its listing on BVB and supports the company in achieving objectives of strategic importance for Romania’s energy independence”, said Daniela Secară, CEO of BT Capital Partners.
The first bond issue of the company ROMGAZ (ticker symbol SNG29E) was listed a year ago, on November 19, 2024, as the first tranche of 5-year international bonds under the program EMTN (Euro Medium Term Notes) of ROMGAZ. The bonds will reach maturity in 2029.
ROMGAZ was listed on the BVB Regulated Market on November 12, 2013, after it had successfully implemented a cumulated initial secondary public offering of RON 1.7 billion, on the local exchange and the London Stock Exchange. For Romania, the company listing was one of the highest offers for sale of shares obtained by the Romanian State through BVB. The largest shareholder of ROMGAZ, owing 70% shareholding, is the Romanian State, through the Ministry of Energy.
Since December 2013, ROMGAZ shares have been included in the BET index, the BVB reference index comprising the 20 most traded companies on the local stock exchange, and afterwards in the BET-XT, BET-BK, and BET-NG indices as well. In the BET-NG sectoral index, which shows the trend of companies listed on the BVB regulated market, whose main business is energy and related utilities, ROMGAZ ranks second, having a rate of 19.8%. The company shares are also included in the BETPlus, BET-TR, BET-XT-TR, BET-TRN, BET-XT-TRN, BET-EF and ROTX indices. Moreover, ROMGAZ shares are included in the MSCI Frontier IMI (Investable Market Index) indices dedicated to frontier markets. On December 19, 2025, ROMGAZ had a market capitalization of RON 37.6 billion.
