Transelectrica didn’t specify an exact date for the bond issue. However, earlier this year the company said the bond would probably be launched in the second half of November. The funds will be used to refinance older loans and replenish investment funds.
Transelectrica’s shareholders approved an overall budget of up to RON900 million for potential bond issues in 2013-2017, both in lei and in foreign currency.
The power grid operator is majority-owned by the Finance Ministry, which controls 58.69% of the shares. Other shareholders include investment fund Fondul Proprietatea (FP.RO), with a 13.5% stake, and regional investment fund SIF Oltenia (SIF5.RO), with 6.3% of the shares.
At around 11:30 am, Transelectrica traded up 0.73% at RON13.75 a share in Bucharest.