Czech company ENERGO-PRO issued bonds worth EUR 250 million

Published: 03.05.2018 Related countries:  Indonesia Indonesia

ENERGO-PRO has placed EUR 250 million Eurobond issue in London, payable in 5 years with fixed coupon of 4.5% p.a.

ENERGO-PRO has placed a bond issue worth EUR 250m on the Irish Stock Exchange in London.
The Eurobonds are payable on May 4, 2024 and bear a fixed coupon of 4.5% p.a.  The net income will be used to refinance the existing loans and to general corporate loans.

S&P and Fitch assigned the bonds a rating of BB- and BB, respectively, in line with the corporate rating of ENERGO-PRO, which was assigned to the company in October last year (2017).

The ENERGO-PRO Group operates hydro power plants in Central and Eastern Europe, at the Black Sea and in the Caucasus. The total installed capacity of power plants owned by ENERGO-PRO is 854 MW; the annual electricity generation exceeds 2.5 TWh.

ENERGO-PRO is also active in distribution and sale of electricity and owns and operates electricity distribution networks in Bulgaria and Georgia serving more than 2.4 million customers. The company is also active in cross-border power trading.

Originally a Czech company, it gradually expanded to Bulgaria, Georgia, and Turkey. Total installed capacity of power stations owned by ENERGO-PRO is 854 MW and annual production of electricity exceeds 2.5 TWh. ENERGO-PRO is also active in distribution and sale of electricity and owns and operates electricity distribution networks in Bulgaria and Georgia serving more than 2.4 million customers. The company is also active in cross-border power trading.

Source: CIA News, ENERGO-PRO